The appellant failed to offer any explanation properly in support of the grounds raised in this appeal nor any supporting evidence were produced despite adequate opportunity having been provided. Since, in the instant case the appellant has not be able to show that the decision of the AO
M/s Steer Engineering Pvt. Ltd. Vs Addl. CIT (ITAT Bangalore) M/s. Steer Engineering Pvt. Ltd. (Appellant) acquired the business of two companies namely Concord United Products Pvt. Ltd., and M/s. Aditya Precision Deposition Moulding Pvt. Ltd. and incurred Rs.1,20,820/- as professional fees for drafting business transfer agreements and legal opinions. The Appellant claimed it as […]
Durga Charitable Society Vs JCIT (ITAT Delhi) Charitable Society providing hostel facilities to staff and students is integral part of ‘Educational Activities’, and Section 11 exemption allowed Durga Charitable Society (Appellant) is a Society duly registered under Society Registration Act, 1860 and is engaged in running various educational institutions, medical colleges and charitable hospitals. Assessing […]
Aanya Real Estate Pvt. Ltd. Vs DCIT (ITAT Mumbai) In M/s. Aanya Real Estate Pvt. Ltd. v. Deputy CIT [IT A No. 115/Mum/2020 decided on July 20, 2021] M/s. Aanya Real Estate Pvt. Ltd. (“the Appellant”) is a real estate company. During assessment, it was noted that the Petitioner had disclosed payment for Exchange Server […]
DCIT Vs Sahara India Sahkari Awas Samiti Ltd. (ITAT Delhi) In DCIT v. Sahara India Sahkari Awas [ITA Nos.2481 & 2482/Del/2011 and CO Nos.221 & 222/Del/2011 decided on July 19, 20201] Sahara India Sahkari Awas (Respondent), a cooperative society of Sahara India group and is engaged in the business of development and construction of residential […]
Commissioner issued a show cause notice under section 263 and ultimately passed impugned order; by that time the alleged domestic transaction of purchase from related party was not required to be considered as a specified domestic transaction under section 92BA of the Act. It has been omitted, and therefore, no proceedings under section 263 should have been undertaken by the ld. Commissioner.
The Hon’ble ITAT, New Delhi in DCIT v. Planman HR Pvt. Ltd. (ITA No.5152/Del/2017, dated July 15, 2021) disposed of the appeal filed by the Revenue Department (Respondent) and upheld the order passed by the Commissioner of Income Tax (Appeals) (CIT Appeals), deleting the disallowance of INR 54,31,041/- being interest on late payment of service […]
M/s. Vijaya Bank Employees Housing Co-operative Society Ltd. Vs ACIT (ITAT Bangalore) Conclusion: In present facts of the case it was observed by the Hon’ble Bench that where a deduction is necessary in order to ascertain the profits and gains, such deductions should be allowed. Profits should be computed after deducting the expenses incurred for […]
Addl. CIT Vs Gillette Diversified Operations Pvt. Ltd. (ITAT Delhi) Section 32 requires that the assessee must use the asset for the ‘purposes of business’. It does not mandate usage of the asset by the assessee itself. As long as the asset is utilized for the purpose of business of the assessee, the requirement of […]
No addition could be made under section 69B because the two pieces of evidence relied on by Revenue Authorities viz., the data retrieved from the Pen-drive and the admission by the vendors of the property though might have a persuasive value but would not have much substantive evidentiary value in order to make additions in the hands of the assessee.
