ITAT Delhi

Stamp duty on lease deed for carrying on of business allowable

Fiserv India Private Limited Vs ACIT (ITAT Delhi)

Period of lease for which the property has been taken cannot be regarded as a decisive test to determine the nature of the expenditure. It is not disputed that the stamp duty amount has been paid on lease deed for the carrying on of the business of the assessee and therefore the amount of stamp duty paid for has to be allowed as revenue ...

Read More

Framing Assessment against Non-Existent Amalgamating Entity is Unsustainable

Genpact India Pvt. Ltd. Vs DCIT (ITAT Delhi)

Genpact India Pvt. Ltd. Vs DCIT (ITAT Delhi) The issue under consideration is whether the framing of an assessment against a non-existent amalgamating entity is sustainable in law?...

Read More

No section 68 Addition if Asessee proves Genuineness & Creditworthiness of Creditors

Prayag Polytech Pvt. Ltd. Vs Addl. CIT. (ITAT Delhi)

The issue under consideration is whether the addition on account of advances from customers treating the same as unexplained liability (Section 68) is justified in law?...

Read More

No income tax on Revenue from IDC/Management /Referral Agreement under India-Singapore DTAA

Edenred Pte Ltd Vs DDIT (International Taxation) (ITAT Delhi)

The issue under consideration is whether income tax levied on revenue received from IDC agreement, management agreement, and referral agreement as per the India-Singapore DTAA?...

Read More

Penalty Order in Name of erstwhile Dissolved Company is invalid

V3S Infratech Ltd. Vs DCIT (ITAT Delhi)

Impugned penalty order passed by the AO in the name of erstwhile dissolved company is a substantive illegality and not a procedural violation of the nature adverted to in Section 292B;...

Read More

TP Adjustment for notional Interest on outstanding receivables

Global Logic India Ltd. Vs ACIT (ITAT Delhi)

Global Logic India Ltd. Vs ACIT (ITAT Delhi) Now coming to the next issue raised in the present appeal against the transfer pricing adjustment made on account of interest due on receivables outstanding. The said issue stands covered in favour of the assessee by the decision of the Tribunal in assessee’s own case for Assessment […...

Read More

Depreciation allowable on Actual Cost of Assets without reducing Subsidy

DCIT (LTU) Vs Nestle India Ltd (ITAT Delhi)

Where the Government subsidy is intended as an incentive to encourage entrepreneurs to move to backward areas and establish industries, the specified percentage of fixed capital costs, which is the basis for determining the subsidy, is only a measure adopted in the scheme to quantify the amount of subsidy and it is not a payment directly ...

Read More

No TDS on payments to NRI for Purchase of Raw Materials

Honda Cars India Ltd Vs DCIT (ITAT Delhi)

The issue under consideration is whether the provisions of deduction of tax at source (TDS) would be applicable in case of payments made to non-resident Indian for the purchase of raw materials?...

Read More

Unlisted shares sold before 11.07.2014 eligible for benefit of short holding period

Mrs. Neelu Analjit Singh Vs The Addl. Commissioner of Income tax (ITAT Delhi)

The issue under consideration is Unlisted shares sold after holding for 23 months considered as Long Term Capital Gains or Short Term Capital Gains?...

Read More

No addition for sale consideration outside books of account on mere presumptions

The DCIT Vs M/s. Prominent Realtech Pvt. Ltd. (ITAT Delhi)

In the present case, the A.O, came to the conclusion that since assessee company purchased the same shares just after 05 days from TIDCL at a much lower price, therefore, assessee must have paid the sale consideration outside the books of account. Accordingly, A.O. in the assessment order held that assessee has paid to TIDCL outside books...

Read More

Browse All Categories

CA, CS, CMA (4,867)
Company Law (6,341)
Custom Duty (7,854)
DGFT (4,266)
Excise Duty (4,379)
Fema / RBI (4,287)
Finance (4,528)
Income Tax (33,875)
SEBI (3,593)
Service Tax (3,577)