ITAT Delhi

Expense cannot be disallowed merely for not having direct bearing on earning

Loesche India Pvt. Ltd. Vs. Addl. CIT (ITAT Delhi)

Loesche India case: it is not necessary that all the payments/expenditure incurred by the assessee should have direct bearing on earning of income, but some payments are also made under certain business expediency...

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Addition U/s 68 not justified for Mere Non-Production of Director of Share Holder Company

Moti Adhesives P. ltd. Vs ITO (ITAT Delhi)

Moti Adhesives P. ltd. Vs ITO (ITAT Delhi) Mere non production of Director of said share holder company cannot justify adverse inference u/s 68 of the Act. Even if there was any doubt if any regarding the creditworthiness of the share applicants was still subsisting, then AO should have made enquiries from the AO of […]...

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Addition U/s. 68 for Receipt of share capital not justified when Identity, creditworthiness & genuineness proved

Asstt. CIT Vs Ravnet Solutions (P.) Ltd. (ITAT Delhi)

ACIT Vs Ravnet Solutions (P.) Ltd. (ITAT Delhi)  Where assessee, in receipt of share capital, had established onus cast on it to explain identity and creditworthiness of subscribers and genuineness of impugned share transactions by filing evidences such as copies of confirmations, ITRs, PANs and bank statements, etc. AO was not justified...

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Delay in filing appeal with ITAT due to time barring assessment work not acceptable

ITO Vs Gisil Designs (ITAT Delhi)

It is simply stated in the application for condonation of delay that due to time barring assessment, the impugned order was overlooked and got barred by limitation....

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Penalty for Delay in Filing TDS Statement- Non-Availability of Staff not a valid defence

Delhi Development Authority Vs JCIT (ITAT Delhi)

Moreover, the change /lack of staff with the assessee-organization is not found substantiated by any evidence on record and such a reason, in our considered opinion, does not constitute to be a reasonable cause to file the TDS statements with such an inordinate delay....

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Expenditure incurred on software eligible for depreciation @60%

Make My Trip (India) Pvt. Ltd. Vs DCIT (ITAT Delhi)

Expenditure incurred on the software is eligible for depreciation @60%, depreciation on the block of assets of website development cost eligible @ 60%: Re: appeal A.Y. 2006-07 of Make My Trip (India) Pvt. Ltd....

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Section 14A will not apply if no exempt income

McDonald's India Pvt. Ltd. Vs Addl. CIT (ITAT Delhi)

McDonald's India case: Section 14A of the Income-tax Act, 1961 will not apply if no exempt income has been received or receivable during the previous year in question...

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‘Second leg contract’ cannot be denied applicability of section 44BB

DDIT Vs Louis Dreyfus Armateures SASn (LDA) (ITAT Delhi)

There is no provision u/s.44BB to support the Assessing Officer’s interpretation of the so called ‘second leg contract’ so as to deny the applicability of the section to the assessee. Only requirement of the section is plant and machinery is given on hire is used or to be used in the prospecting /extraction/production of mineral oil...

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Reopening based on change of opinion is not permissible under law

Motorola Inc, USA Vs DDIT (ITAT Delhi)

Motorola Inc, USA appeal before Delhi ITAT: When no intangible material came to the notice of the AO to form the opinion that the income of the assessee company has escaped assessment and all the facts and figures have been brought on record by the assessee company during assessment proceedings and same had been explained: The reassessmen...

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Penalty U/s. 271(1)(c) invalid if Not specifically mentioned in assessment order as to which limb penalty was imposed

ABR Auto (P) Ltd. Vs ACIT (ITAT Delhi)

As neither the assessment order nor the show cause notice stated the specific charge of alleged concealment and/or furnishing of inaccurate particulars of income vis-a-vis addition made by AO, entire penalty proceedings under Section 271(1)(c) were vitiated....

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