2023-TIOL-335-ITAT-RAJKOT
Naresh Kantilal Thacker Vs ITO
Whether CIT(A) had erred in law in confirming addition being profit on sale of agricultural land and treating it as adventure in nature of trade, when it is proved that he assessee converted the agricultural land into non-agricultural purpose and then entered into a sale agreement - NO: ITAT
- Assessee's appeal dismissed: RAJKOT
2023-TIOL-334-ITAT-MUM
DCIT Vs Jay Properties Pvt Ltd
Whether rental income earned by the assessee, as incidental to ots business of real estate, is to be treated as 'business income' - YES: ITAT Whether CIT(A) erred in allowing the expenses u/s 37(1) on the ground that the income from rental activities are already held to be business income - NO: ITAT
- Revenue's appeal dismissed: MUMBAI ITAT
2023-TIOL-333-ITAT-DEL
ITO Vs Rajdarbar Beverages Pvt Ltd
Whether CIT(A) has erred in deleting the addition made by A.O. as unexplained investment in unlisted equities when assessee has proved the credibility and genuineness of entities from whom funds were taken to invest - NO: ITAT
- Revenue's appeal dismissed: DELHI ITAT
