ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act is not justifiable since proper enquiry and examination was made and therefore, there is no error in the order of the AO thus, it is not pre-judicial to the interest of the Revenue.
The ITAT Delhi has held that purchasing a residential plot and subsequently constructing a house on it fulfills the conditions for capital gains exemption under Section 54F of the Income Tax Act.
The ITAT Delhi has set aside a penalty imposed on a taxpayer, ruling that penalties cannot be levied on additions to income that are based on estimation. This decision follows a precedent in the same case.
ITAT Delhi has dismissed a revenue appeal, confirming that a CIT(A) can set aside an ex-parte assessment and remand case for fresh adjudication, citing a recent amendment to tax law.
The ITAT Delhi ruled that a charitable society’s tax exemption cannot be denied if its registration remains valid. The tribunal emphasized the need for consistency, setting aside a demand based on a factual error.
ITAT Delhi deleted MAT addition on goodwill amortisation in SC Johnson case, noting it was recorded under a court-approved scheme and fully disclosed in audited accounts.
ITAT Delhi held that assessment order u/s. 144 of the Income Tax Act is in violation of mandatory provisions of section 153D since mechanical approval is granted without application of mind. Accordingly, order is set aside.
ITAT Delhi quashes ₹8.11 Cr addition, ruling reassessment void due to mechanical approval by JCIT. AO’s lack of independent mind also cited. Safeguards are not rituals.
ITAT Delhi quashes assessments under Section 153A due to “mechanical” Section 153D approval by the Additional CIT. The tribunal emphasized that this approval is a mandatory safeguard, not a mere formality, and its lack of application of mind renders assessments void.
Delhi ITAT reduces a Rs.3.50 Cr bogus creditor addition to Rs.45 lakh, ruling that purchases were genuine despite suspicious cash payments to unverified parties.
