Property Purchase

Income Tax

ITAT Remands Addition Made on Property Purchase Value Difference And Directs Fresh Examination of the Addition under Section 56(2)(x) | Biz Flow Kit
Byadmin June 25, 2026

ITAT Remands Addition Made on Property Purchase Value Difference And Directs Fresh Examination of the Addition under Section 56(2)(x) The Income Tax Appellate Tribunal (ITAT), Ahmedabad, has directed a fresh examination of the addition under Section 56(2)(x) and upheld the disallowance of the deduction claimed under Section 80GGC in respect of a donation made to…

Read More ITAT Remands Addition Made on Property Purchase Value Difference And Directs Fresh Examination of the Addition under Section 56(2)(x) | Biz Flow Kit
Income Tax

ITAT Deletes Rs 24.70 Lakh Addition for Alleged On-Money Payment as AO Failed to Prove Cash Transaction | Biz Flow Kit
Byadmin June 4, 2026

ITAT Deletes Rs 24.70 Lakh Addition for Alleged On-Money Payment as AO Failed to Prove Cash Transaction The Income Tax Appellate Tribunal (ITAT) Mumbai held that an addition under Section 69 for alleged on-money payment cannot be sustained merely on the basis of third-party statements or seized documents unless the Revenue establishes actual payment through corroborative…

Read More ITAT Deletes Rs 24.70 Lakh Addition for Alleged On-Money Payment as AO Failed to Prove Cash Transaction | Biz Flow Kit
Income Tax

ITAT Allows Section 54 Exemption on Unregistered Property Purchase with Possession | Biz Flow Kit
Byadmin April 2, 2026

ITAT Allows Section 54 Exemption on Unregistered Property Purchase with Possession The assessee, Anju Madhan, along with her husband, owned a property in Greater Kailash, New Delhi, which was developed and sold during AY 2016–17 for Rs. 8.40 crore. She claimed exemption under Section 54 on long-term capital gains amounting to Rs. 6.68 crore by…

Read More ITAT Allows Section 54 Exemption on Unregistered Property Purchase with Possession | Biz Flow Kit