Imported seaweed extract provisionally released on bond only; declaratory rejection set aside; appellate decision due within section 128-A(4-A) three ...
Page of 4823
Press 'Enter' after typing page number.
9341 to 9360 of 96456 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT held that the addition of capital gains to the taxpayer's individual assessment was unsustainable and allowed the appeal. The Tribunal found, on the basis of the will, sale deed and bank receipts, that the immovable property was owned and sold by the taxpayer's HUF and trust, not by the taxpayer in his individual capacity; the tax authority failed to rebut these documentary facts. The Tribunal rejected reliance on the mere mention of the taxpayer's PAN on the sale registration as insufficient to establish individual ownership. Consequently, the capital gains could not be taxed in the taxpayer's hands and the addition was set aside.
ITAT held that the addition of capital gains to the taxpayer's individual assessment was unsustainable and allowed the appeal. The Tribunal found, on the basis of the will, sale deed and bank receipts, that the immovable property was owned and sold by the taxpayer's HUF and trust, not by the taxpayer in his individual capacity; the tax authority failed to rebut these documentary facts. The Tribunal rejected reliance on the mere mention of the taxpayer's PAN on the sale registration as insufficient to establish individual ownership. Consequently, the capital gains could not be taxed in the taxpayer's hands and the addition was set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4823 
Join Channel 
