The Delhi ITAT has quashed reassessment proceedings against an advocate for AY 2012-13 to 2015-16, citing invalid, mechanical approvals under Section 151 of the Income Tax Act.
ITAT Delhi following the decision of Delhi HC in assessee’s own case held that profit earned on sale/redemption of investment is not chargeable to tax. Accordingly, appeal allowed to that extent.
The ITAT Delhi quashed a rectification order against Avia Xpert, ruling the disallowance of employee PF/ESI contributions was illegal due to a lack of prior notice and the issue being a debatable matter at the time.
ITAT Delhi upheld the quashing of Ashish Gupta’s reassessment, citing the AO’s failure to issue Section 143(2) notice and furnish reasons, reinforcing procedural compliance.
ITAT Delhi quashes a Rs. 418 crore reassessment order for AY 2009-10 because the notice for reopening under Section 148 was not validly served on the assessee.
The Delhi ITAT has quashed a reassessment based on “borrowed satisfaction,” ruling that the tax department acted without independent inquiry and on suspicion, not tangible material.
The ITAT Delhi upheld the genuineness of a long-term capital gain, ruling that an LTCG exemption cannot be denied solely based on suspicion, if the transaction is supported by documentary evidence
The ITAT Delhi has upheld the deletion of an addition for alleged bogus loss from Client Code Modification. The tribunal ruled that the mere non-response of a broker to an inquiry is not enough to prove connivance without concrete evidence
The ITAT Delhi has ruled that a charitable institution’s Section 11 exemption can’t be fully denied for a violation under Section 13. Exemption is restricted only to the extent of the offending amount.
ITAT Delhi annuls Mahagun Group assessments, ruling that the mandatory approval u/s 153D was given mechanically and without proper application of mind, defeating the legislative intent.
