ITAT Delhi

Subsidy based on reimbursement of sales tax – revenue or capital receipt?

PepsiCo India Holdings Pvt. Ltd, (erstwhile Pepsi Foods Pvt. Ltd.) Vs Addl. CIT (ITAT Delhi)

ITAT, Delhi held that the subsidy received by the assessee from the subsidy received under the West Bengal Incentive Scheme of 2004 was capital in nature and could not be taxed as revenue receipts. ...

Read More

Mere Object clause in MOA not sufficient to claim rent as Business Income

New Horizon Logiware (P) LTD Vs ITO (ITAT Delhi)

New Horizon Logiware (P) LTD Vs ITO (ITAT Delhi) AO has discussed the facts in detail and the relevant clauses of the lease deed and also mentioned that the said warehouse was already rented to present tenant (Tupperware) by earlier owner from whom assessee has purchased this building in this year. As per AO, the […]...

Read More

Advance rent & security deposit cannot be treated as deemed dividend

Shri Jinendra Kumar Jain Vs ACIT (ITAT Delhi)

Shri Jinendra Kumar Jain Vs ACIT (ITAT Delhi) It is, therefore, clear from the evidence on record that assessee in fact, has let-out the joint property to the tenant company and has received advance as well as security deposit of the aforesaid amounts. The authorities below rejected the claim of assessee because the amount of […]...

Read More

Deduction U/s. 80P to cooperative society on Interest earned on FDs and saving bank deposit

Jawala Cooperative Urban Thrift & Credit Society Ltd. v. ACIT (ITAT Delhi)

Jawala Cooperative Urban Thrift & Credit Society Ltd. Vs ACIT (ITAT Delhi) Funds kept in bank could be said to be ready for utilization by the assessee, cooperative society, in its business of providing credit facilities to its members, and therefore, the income from such monies, kept in bank, were attributable to the business of [&he...

Read More

Issuance of notice U/s. 153C is mandatory for assessment u/s. 153C

BNB Investment & Properties Ltd. Vs DCIT (ITAT Delhi)

Issuance of notice under section 153C is mandatory and a condition precedent for taking action against assessee under section 153C, therefore, assessment order under section 153C issued without issuing a notice under section 153C was bad in law....

Read More

ITAT directs CIT (A) to condone delay in e-filing of Appeal due to technical issues

Shri Gurinder Singh Dhillon Vs Income Tax Officer (ITAT Delhi)

Shri Gurinder Singh Dhillon Vs ITO (ITAT Delhi) Assessee filed the appeal before the ld. CIT (A) manually within time as per the old provisions. Later on, the manner of furnishing the appeal in Form No.35 before the ld. CIT (A) was amended vide Notification No. 5/2016 dated 06.04.2016 and the procedure was laid down. […]...

Read More

Assumption of jurisdiction U/s. 153A invalid if No incriminating material found

Moon Beverages Ltd. Vs. ACIT (ITAT Delhi)

Since no assessment was pending on the date of search and addition had been made on basis of post-search enquiries and statements recorded under section 132(4) on various persons, therefore, AO had no power to assume jurisdiction under provisions of section 153A as no incriminating material was found....

Read More

Purchase & Sale of Group Company share cannot be treated Bogus if same was done to book loss and off-set capital gains

The ACIT Vs M/s. R J Corp. Ltd. (ITAT Delhi)

ACIT Vs M/s. R J Corp. Ltd. (ITAT Delhi) The A. O. has made a observation that the short term capital loss has been incurred on share of group companies and such shares have also been sold to group companies in such a manner that the entire shareholding of the investee company remains with the […]...

Read More

Section 12AA registration cannot be denied by giving vague reasons

Rastriya Saksharta Mission Innovative Technologies Education, Khesra Vs. CIT (ITAT Delhi)

Rastriya Saksharta Mission Innovative Technologies Education, Khesra Vs. CIT (ITAT Delhi) Section 12AA of the I.T. Act provides that ‘Pr.CIT or CIT on receipt of an application for registration of a trust or institution under section 12A, shall after satisfying himself about the objects of the trust or institution and the genuineness of...

Read More

No penalty for delay in TDS return filing due to reasonable cause

M/s. Haryana Distillery Limited Vs JCIT (ITAT Delhi)

M/s. Haryana Distillery Limited Vs JCIT (ITAT Delhi) Section 272A(2)(k) of the I.T. Act provides penalty for failure to deliver or cause to deliver a copy of the statement within the time specified in sub-section (3) of Section 200 or the proviso to sub-section 3 of Section 206(c) of the I.T. Act. Section 273B of […]...

Read More

Browse All Categories

CA, CS, CMA (3,934)
Company Law (4,145)
Custom Duty (7,114)
DGFT (3,786)
Excise Duty (4,171)
Fema / RBI (3,547)
Finance (3,750)
Income Tax (28,351)
SEBI (2,986)
Service Tax (3,413)

Featured Posts