Smt Motwani successfully claimed Section 54F tax exemption after buying her husband's Mumbai property for Rs 7.5 crore, with ITAT Mumbai ruling that transactions between spouses are not automatically considered sham for tax evasion.
ITAT Mumbai upheld a builder's firm's claim of Rs 8 crore as a business expense for tenant compensation, rejecting the Income Tax Department's contention that it was a contingent liability.
Mrs. Saudagar from Mumbai won her case at ITAT Mumbai, overturning an Income Tax Department notice for an unexplained property investment. The department questioned Rs 80 lakh paid by her Dubai-based husband directly to the seller, but ITAT accepted her comprehensive evidence.
Mumbai-based IT professional Sophia Rick successfully challenged a Rs 3.36 lakh tax demand at ITAT Mumbai after her employer failed to deposit Rs 3.91 lakh in deducted TDS. The tribunal ruled that taxpayers cannot be denied credit if they prove TDS deduction, even if the employer defaults.
