Uttam Enterprises Pvt. Ltd. Vs ACIT (ITAT Delhi) Assessee had filed its return of income under Section 139(1) on 13.09.2013. Thus, as per proviso to Section 143(2) of the Act, as it existed prior to its amendment by Finance Act, 2016 w.e.f. 01.06.2016, no notice under Section 143(2) of the Act shall be served on […]
ACIT Vs GP Global Energy Pvt. Ltd. (ITAT Delhi) In so far as bench marking the international transactions using customs data is concerned we sustain the order of the Ld. CIT(Appeals) as the Ld. CIT(A) observed that the Chennai Bench of the Tribunal in the case of Coastal Energy Pvt. Ltd. Vs. ACIT (supra) held […]
EY Global Services Ltd. Vs ACIT (ITAT Delhi) ITAT finds itself in agreement with the submissions made by the ld. DR for the Revenue. AO has only followed the ruling of AAR in assessee’s own case and as per the provisions of section 245S of the Act, ruling of Hon’ble AAR is binding upon the […]
South West Pinnacle Exploration Ltd. Vs ACIT (ITAT Delhi) Rectification under section 154 of the Act can only be made when glaring mistake of fact or law has been committed by the officer passing the order becomes apparent from the record. Rectification is not possible if the question is debatable. Moreover, the point which was […]
If very initiation of penalty proceedings on a defective notice is invalid and it do not warrant imposition of penalty u/s.271(1)(c) of the Act on the assessee.
GSR Ventures Private Limited Vs DCIT (ITAT Hyderabad) Once any TDS is effected in accordance with the provisions of the Act and paid to the Central Government, such an amount shall be treated as a payment of tax on behalf of the person from whose income the deduction was made, and, therefore, a credit of […]
Bistro Hospitality Pvt. Ltd. Vs ACIT (ITAT Delhi) Disallowance of Rs.4,00,000/- was made by the AO on adhoc basis on the ground that the amounts claimed under the expenses are neither fully vouched nor fully verifiable, so it cannot be said that the same are wholly and exclusively incurred for the purpose of business. The […]
Addition for difference in Share of profit from Partnership due to Mistake in lowering the profit in revised Return same not sustainable
Income from Sale of Shares treated as Business Income as Assessee himself treated the same as Business Income in earlier & Subsequent years
Praveen Kumar Chauhan Vs ITO (ITAT Delhi) Revenue submitted that the assessee failed to explain the source of cash deposits. The only contention of the assessee before the authorities below was that the amount was received as a gift from his father. He submitted that the assessee has merely filed an affidavit. However, creditworthiness of […]
