ITAT Delhi held that the assessee has not committed any violation of provision of Chapter XVII B of the Act by making payment towards External Development Charges (EDC) to Directorate of Town and Country Planning, Haryana (Haryana Government) (DGTCP) through banking channel favoring Haryana Urban Development Authority (HUDA).
ITAT Delhi held that rejection of books of accounts u/s. 145(3) of the Income Tax Act justifiable as there was number of defects and discrepancies in the same.
ITAT Kolkata held that PCIT cannot exercise the revisionary jurisdiction to set aside the assessment where the AO has conducted enquiries and taken a plausible view accepting the contentions of the assessee.
ITAT Delhi held that as National Company Law Tribunal (NCLT) has admitted application filed by the assessee u/s. 14 of the Insolvency and Bankruptcy Code, 2016, the present appeal filed by the revenue deserves to be dismissed.
ITAT Mumbai held that since the assessee has not earned any dividend income from its equity investment during the year disallowance of expenditure under section 14A of the Income Tax Act read with Rule 8D of the Income Tax Rules is not sustainable.
ITAT Ahmedabad’s order in Lincoln Pharmaceuticals Ltd. vs. DCIT, confirming addition due to insufficient evidence for promotion expenses.
Read about ITAT’s decision to direct Tera Naturals Resources Pvt. Ltd. to deposit Rs 25,000 in PM Relief Fund due to non-compliance behavior during appellate proceedings.
Read the full text of ITAT Delhi’s order in Super Alloy Castings P. Ltd vs. ACIT regarding higher depreciation on electrical fittings and rejection of personal use charges.
Read the full text of the ITAT Kolkata order in the case of Philips India Limited vs. ACIT regarding the grant of 30% depreciation on business-owned moulds.
Read about the ITAT Kolkata case of Popular Complex Advisory Pvt. Ltd. vs. ITO involving TDS credit in amalgamation schemes approved by HC.
