The Goods and Services Tax Appellate Tribunal (GSTAT) has extended its relaxed scrutiny guidelines for filing appeals until December 31, 2026. This measure aims to prevent procedural technicalities from hindering justice, allowing the registry to focus on significant defects while taxpayers navigate the digital appellate system.
A husband successfully appealed a tax decision that denied him set-off for his wife's stock market losses. The ITAT Lucknow ruled that losses from derivative trading funded by his gift were deductible from his income, reaffirming clubbing provisions.
The Income Tax Appellate Tribunal (ITAT) Chennai ruled Smt Dolly Khanna is an investor, not a trader. Her Rs 54 crore short-term capital loss was classified as a capital loss, not a business loss, aligning with her consistent investment history and a CBDT circular.
A Chennai woman successfully appealed a tax notice after selling her apartment for Rs 35.5 lakh and buying a new one from her son-in-law. The ITAT Chennai ruled in her favor, upholding registered documents and bank transactions, deleting additions made under Section 69A.
