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LTCG on Shares: Assumptions without substantial evidence of error shouldn’t trigger action u/s 263

June 27, 2024 303 Views 0 comment Print

Read the detailed analysis of the ITAT Delhi verdict in Pooja Mittal vs PCIT case, addressing the issues of Long Term Capital Gain and supervisory jurisdiction under Section 263.

Deeming Provisions of Section 50C Not Apply to Leasehold Rights: ITAT Delhi

June 26, 2024 417 Views 0 comment Print

ITAT Delhi rules that Section 50C deeming provisions cannot be applied to leasehold rights in the Shivdeep Tyagi vs ITO case.

Section 263 revisionary power can’t be invoked solely on improper inquiry allegations

June 26, 2024 252 Views 0 comment Print

Detailed analysis of Dharam Singh Vs PCIT (ITAT Delhi) case where ITAT Delhi ruled that revisionary power can’t be invoked solely on improper inquiry allegations by AO.

Procedural lapses in filing Form 67 do not justify disallowing of FTC: ITAT Delhi

June 25, 2024 306 Views 0 comment Print

Detailed analysis of the ITAT Delhi order on Isha Mago vs ADIT, focusing on the appeal regarding disallowance of foreign tax credit due to late filing of Form 67.

Rule 128(9) not provide for disallowance of FTC in case of delay in form 67 filing

June 25, 2024 210 Views 0 comment Print

Explore the ITAT Delhi’s ruling in Rameshwar Prasad Shrivastava vs ITO, detailing the disallowance of foreign tax credit due to procedural lapses, implications under DTAA, and judicial precedents.

Foreign Tax Credit cannot be denied for delay in filing Form 67: ITAT Delhi

June 25, 2024 96 Views 0 comment Print

Read a comprehensive analysis of Ajay Kumar Mishra Vs DCIT case at ITAT Delhi regarding disallowance of foreign tax credit under Indian tax law. Understand the implications and legal arguments presented.

Form 67 submission Not Mandatory for Availing  Foreign Tax Credit: ITAT Delhi

June 24, 2024 435 Views 0 comment Print

Read the full text of the ITAT Delhi order in Suchi Agrawal vs. ITO, where the requirement of Form-67 for foreign tax credit was debated and its procedural nature clarified.

Deeming provision of 56(2)(x) cannot be invoked in case of Purchase of agricultural land

June 24, 2024 564 Views 0 comment Print

ITAT Delhi rules Section 56(2)(x) can’t be invoked for agricultural land purchases, providing relief to taxpayers in similar situations.

ITAT quashes re-assessment proceedings: Partners property incorrectly assumed as Firms property

June 24, 2024 213 Views 0 comment Print

ITAT Delhi quashes reassessment proceedings against Chaudhary Stone Crusher, ruling on sale of partners property before IT notice under section 148.

Section 801B(10): Deduction for Housing Projects Not Tied to Separate Approvals for Eligible Units

June 21, 2024 627 Views 0 comment Print

Detailed analysis of Shipra Estate Ltd. & Jai Krishan Estate Developers Pvt. Ltd. vs ACIT case by ITAT Delhi on eligibility for deduction under section 80IB(10) of the Income Tax Act, focusing on the project completion method and built-up area criteria.

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