The Tribunal dismissed the assessee’s appeal, confirming that opting for Section 115BAA overrides the 20% LTCG rate under Section 112.
ITAT Delhi directed the AO to compute Annual Letting Value (ALV) only for the portion of the house property actually rented out (third/fourth floors). Taxing the entire property based on assumptions, ignoring the owner’s self-occupation, was held to be unjustified.
Tribunal held that cost-to-cost reimbursements for IT support services do not qualify as Fees for Included Services (FIS) under Article 12 of the India-US DTAA, as no technical knowledge was “made available” to the Indian affiliate.
ITAT Delhi deleted a ₹45.69 lakh disallowance made by CPC under Section 43B for unpaid GST/Service Tax. Tribunal held disallowance was invalid because assessee had not claimed taxes as an expenditure in Profit and Loss Account.
Tribunal ruled that high-rate tax under Section 115BBE cannot be applied to assessment year 2017-18 cash deposit, as section applies only to transactions on or after April 1, 2017. Decision directs AO to compute consequential tax liability under normal provisions.
ITAT Delhi deleted a ₹31.35 lakh addition for alleged inflated purchases, ruling that an assessment cannot rest solely on third-party search data. The Tribunal emphasized that the Revenue failed to conduct any independent enquiry or provide corroborating evidence linking the assessee to the alleged cash transactions.
ITAT Delhi remanded the addition of 12.5% profit on alleged bogus sales because the CIT(A) sustained the amount (₹20.16 lakh) without providing adequate reasoning or opportunity to the assessee. The Tribunal directed the CIT(A) to pass a fresh, speaking order after considering all submissions.
ITAT Delhi condoned a significant delay in filing appeals, ruling the cause was bona fide as the accountant’s linked email ID led to the non-receipt of assessment and penalty notices. The Tribunal set aside the ex-parte assessment and penalty, remanding the case for a fresh hearing on merits.
The ITAT Delhi set aside an addition of Rs.44.50 lakh, alleged as commission income on fund routing transactions, due to the CIT(A)’s failure to pass a speaking order. The Tribunal remanded the case to the AO for a fresh, de novo assessment to verify documents and provide reasoned findings, ensuring compliance with natural justice.
ITAT Delhi held that cash seized during search operations can be adjusted against self-assessment tax. The order distinguishes between advance tax and self-assessment tax, directing deletion of demand raised by CPC.
