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ITAT quashes income addition of Rs 40 lakh in hands of non-resident, holds agreement-value of flat as valid

India Business News: The tax tribunal held that a sum of Rs 40.45 lakh which was the difference between the stamp duty value on the date of registration of the flat and th ....

Shyamkumar Madhavdas Chugh , Income Tax Appellate Tribunal , Business News , Rs 40 Lakh , Non Resident , Income Addition , Agreement Value ,

ITAT quashes income addition of Rs 40 lakh in hands of non-resident, holds agreement-value of flat as valid, ET RealEstate

The tax tribunal held that a sum of Rs 40.45 lakh which was the difference between the stamp duty value on the date of registration of the flat and the agreement value cannot be taxed in the hands of Shyamkumar Madhavdas Chugh hands as ‘Income from other sources’. ....

Shyamkumar Madhavdas Chugh , Adhavdas Chugh , Delhi Bench , Appellate Tribunal ,

ITAT upholds cap-gain exemption to Mauritius entity, for shares acquired prior to April 1, 2017 | India Business News

India Business News: The ITAT Mumbai bench has upheld the exemption of long-term capital gains on the sale of equity shares of an Indian company by Comstar-Mauritius. The shares were acquired prior to April 1, 2017, and the Mauritius entity had a valid tax residency certificate. The decision overturns the revisionary order passed by the Commissioner of Income-tax (Appeals). ....

Financial Services Commission , Income Tax Appellate Tribunal , Business License , Central Board , Direct Taxes , Business News , Mauritius Entity , Cap Gain Exemption , April 1 ,

Mere disallowance of a tax sop should not trigger penalty for concealment or furnishing inaccurate particulars of income, states Mumbai ITAT

India Business News: The Income Tax Appellate Tribunal (ITAT) Mumbai ruled that a denied claim does not constitute concealment of income or furnishing inaccurate particula ....

Ramprasad Kamtaprasad Nigam , Supreme Court , Income Tax Appellate Tribunal , It Act , Business News , Supreme Courts , Reliance Petroproducts ,