Since, appellant company is a sick industrial company for impugned assessment year, any profit derived from said industrial companies can be deducted while computing book profit.
Appeals filed against PCIT orders under section 12AB(4)(ii) of Income-tax Act, 1961. Learn why assessees contest rulings affecting registration status and application of law.
Explore the detailed analysis of ITAT Delhi’s ruling on the appeal filed by ACIT against Dish Infra Services Pvt. Ltd., covering unexplained cash credit, debenture issue expenditure, and interest disallowance.
ITAT observed discrepancies between appellant’s claimed sales and commission received, as per Form 26AS, subject to TDS deductions. Tribunal concluded that issue required examination by AO, considering reconciliations with Form 26AS, and remitted matter back to AO for fresh consideration.
Tribunal concluded that assessee was not real beneficiary of transaction but merely acted as a facilitator. Therefore, additions made under section 56 of Act were deemed arbitrary and were overturned.
Can penalty under Section 271(1)(c) be imposed if self-assessment tax was paid before notice u/s 148? Read the detailed analysis of Smt. Kavita Sachdev Vs ITO (ITAT Indore).
Read the detailed analysis of the ruling by ITAT Bangalore on the appeal filed by Chandrappa Nalina against the treatment of cash deposits during demonetization. Understand the assessment and CIT(A) decisions.
Assessing Officer to exclude flats already sold or for which advances were received from the stock held by the assessee. For the remaining flats held as stock in trade, the municipal ratable value should be adopted for determining the income from house property.
ITAT Hyderabad grants partial relief to agriculturist in cash deposit case during demonetization, citing agricultural income sources. Addition reduced to Rs. 2 lakhs.
Explore the case of Snapdeal Ltd. vs. ACIT, involving a dispute over the tax treatment of business promotion expenses. Detailed analysis of ITAT Delhi’s decision provided.
