Analysis of DCIT vs. Thulasi Mohan Constructions Pvt. Ltd. case, where capital gains in a business slump sale were contested. Learn legal intricacies and conclusions.
ITAT Jodhpur’s decision regarding the condonation of delay in filing Form No. 10 within the due date of ITR under Section 139 of the IT Act. No addition made.
In an appeal against CIT(A)-14, New Delhi’s order, ITAT Delhi dismisses revenue’s case due to low tax effect as per CBDT Circular No. 17/2019 for AY 2011-12
In the SoftwareONE Pte. Ltd. vs. ACIT case, the ITAT Delhi ruled that sales of software without any service component are not liable to be taxed as Fees for Technical Services (FTS) under the India-Singapore DTAA.
ITAT Surat held that revisionary order passed under section 263 of the Income Tax Act without considering reply of the assessee and without granting an opportunity of being heard is unsustainable in law as against the principles of natural justice.
ITAT Raipur held that interest income earned is not equal to the percentage of interest expenditure incurred cannot be reason for disqualifying expenditure within the provision of section 57(iii) of the Income Tax Act.
ITAT Delhi held that it is settled principle of law that the disallowance under section 14A of the Income Tax Act cannot exceed the exempt income.
ITAT Delhi held that addition towards unexplained cash credit under section 68 of the Income Tax Act unjustified as necessary details explaining the source of credit entries duly provided.
ITAT Delhi held that disallowance of foreign travel expenditure justified as assessee failed to prove the business expediency of foreign trip and therefore assessee failed to discharge the primary onus.
ITAT Pune held that income derived from twin land transactions deserves to be treated as ‘business income’ and cannot be treated as ‘capital gains’.
