The ITAT Chandigarh ruled that a co-purchaser of property is not liable to deduct TDS under Section 194-IA if their individual share is below ₹50 lakh, even if total consideration exceeds the limit.

The Tribunal held that use of surplus for land purchase in the society’s name reflects genuine educational intent. It rejected the view that recurring surplus amounts to profit motive and found the ...

The order reiterates that mere unusual price movement or high returns do not convert a scrip into a penny stock. With identical facts earlier examined and accepted, the Tribunal followed precedent and ...

ITAT Chandigarh ruled that CAD software with a short lifecycle and frequent upgrades qualifies as revenue expenditure, enabling full Section 80IC deduction. AO and CIT(A) orders were set ...