ITAT Delhi rules interest on enhanced compensation for acquired agricultural land is taxable as ‘income from other sources,’ dismissing exemption claims.
ITAT Delhi dismissed revenue appeals against Jindal Pipes Ltd., upholding deletion of disallowances on technical know-how fees and captive power expenses and restricting Section 14A disallowance.
ITAT Delhi rules in favor of assessee, deleting Section 68 additions for unsecured loans from director and another company, citing sufficient evidence.
ITAT Delhi held that software expense has not given any benefit of enduring nature and hence the same is not capital in nature. Accordingly, software expense allowed as revenue expenditure.
Delhi ITAT remands Kishan Lal’s appeal, ordering a new probe into a Rs. 50 lakh robbery case, urging verification of farmers’ claims over the cash.
Delhi ITAT orders fresh consideration for Krishnavi Charitable Trust’s 12A registration application, pending trust deed modification and providing a fair hearing.
Delhi ITAT sets aside additions, orders re-examination of Rs. 2.5 crore unsecured loans and Rs. 1.66 crore property advances for AY 2010-11 and 2011-12.
The ITAT Delhi has deleted a Rs. 96.62 lakh penalty imposed on Pawan Kumar Gupta, ruling that Section 271(1)(c) is not applicable to additions based on estimated income.
Delhi ITAT rules business expenses with genuine payments and TDS cannot be disallowed solely for payees’ lack of GST registration.
ITAT Delhi held that disallowance of club expenditure on the basis of nomenclature of the expenditure without demonstrating it as non-business expenditure not sustainable in law. Accordingly, the club expenditure is allowed as business expenditure.
