Tag Archives: IN THE ITAT LUCKNOW BENCH

Deemed Application of Income Spent on Immovable Property Does Not Require Schedule-I Disclosure under Form I-TR7

By | June 27, 2026
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Deemed Application of Income Spent on Immovable Property Does Not Require Schedule-I Disclosure under Form I-TR7 Issue Whether the addition of approximately ₹4.00 crores was sustainable under Section 11 of the Income-tax Act, 1961, when the assessing authorities disallowed a valid utilization of “deemed application” of income from the preceding year solely due to its… Read More »

Adjustments retained in a final assessment order must be adjudicated on merits during appeals.

By | June 25, 2026
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Adjustments retained in a final assessment order must be adjudicated on merits during appeals. Issue Whether the Commissioner (Appeals) is legally justified in refusing to decide the merits of a tax adjustment simply because the assessee did not file a separate appeal against the initial Section 143(1) intimation, even though that same adjustment was formally… Read More »