ITAT Delhi allows Birlasoft’s claims on lease equalization and business loss write-offs, rejecting tax authority’s disallowances for AY 2014-15.
Delhi HC disposes of Gurpreet Singh’s plea against GST registration cancellation notice, directs swift conclusion of SCN proceedings within three weeks.
ITAT Delhi held that addition under section 68 of the Income Tax Act by treating LTCG as bogus merely on the basis of assumption and conjecture is not sustainable in law since purchase and sale of shares were made via banking channel.
ITAT concluded that merely a time gap between withdrawal and deposit does not warrant an addition under Section 69, especially when the revenue could not establish any other use of the withdrawn funds.
ITAT Delhi quashes reassessment order against Nitin Jain due to invalid service of notice under Section 148, sent to the wrong email ID.
ITAT Delhi quashes assessment orders against Splendor Landbase and its director, faulting the JCIT’s mechanical approval under Section 153D.
ITAT Delhi dismisses Ankush Garg’s appeal, upholding CIT’s order for fresh assessment due to lack of inquiry on cash deposits.
ITAT Delhi cancels reassessment in Jagbir Singh’s case due to invalid approval under Section 151. Legal jurisdiction under Section 147 found to be flawed.
ITAT Delhi sets aside reassessment order against Tirlok Singh citing jurisdictional errors in notice issued under Section 148 by ITO Kurukshetra.
ITAT Delhi held that addition merely on the basis of entries found in the seized diary without any corroborative evidence and without any independent enquiry by AO is not sustainable. Accordingly, addition made by AO is deleted.
