The ITAT Delhi has ruled that a tax reassessment against Upneet Singh Arneja for AY 2016-17 was invalid because it was initiated beyond the three-year limit with improper approval from a lower-ranking authority.
The ITAT Delhi has quashed income tax assessments for Tarun Gupta and others, citing a vague satisfaction note and the reliance on an unsigned agreement as grounds for invalidating the proceedings.
The Delhi ITAT upholds the deletion of a ₹9.84 crore addition, ruling that cash deposits during demonetisation were genuine sales. Suspicion cannot be substituted for evidence.
The ITAT Delhi deleted an addition for bogus purchases against Deepak Pawar. The tribunal ruled that since sales were accepted and purchases were supported by evidence, a profit estimation was invalid.
The ITAT Delhi has deleted a ₹5.15 lakh tax addition for cash deposits during demonetization. The Tribunal ruled that the funds were explained by agricultural income and land sale proceeds.
ITAT Delhi has ruled in favor of Lucky Exports, confirming that commission to foreign agents is not ‘Fees for Technical Services’ and that legal fees for services rendered abroad are not taxable in India.
The ITAT Delhi has ruled that a charitable trust’s surplus funds kept in a current account with a scheduled bank qualify as a valid investment under Section 11(5) of the Income Tax Act, thereby allowing the trust’s exemption claim.
Delhi ITAT has quashed assessments for seven years, ruling that the approval granted under Section 153D was a mechanical and invalid sanction.
The ITAT Delhi has ruled that no penalty can be sustained on estimated income, deleting the penalty levied on an individual for discrepancies found in his Form 26AS.
ITAT Delhi quashes an assessment order for the Shilpi Sardana case, ruling that the Section 143(2) notice was invalid as it did not conform to the CBDT’s mandated format.
