ITAT Delhi held that permission of initiation of reassessment proceedings u/s. 148 of the Income Tax Act beyond the period of three years is to be obtained only from Pr. Chief Commissioner of Income Tax. Here, permission obtained from Pr. Commissioner of Income Tax is invalid.
ITAT Delhi held that addition under section 69A of the Income Tax Act towards cash deposited during demonetization period deleted to the extent of cash sales which is accepted. Accordingly, appeal partly allowed.
ITAT Delhi rules an income tax assessment is invalid if the Section 143(2) notice was not issued in the CBDT’s mandatory revised format. This jurisdictional defect voids the entire assessment proceeding.
ITAT Delhi ruled Rasha Welfare Foundation’s EV initiative is charitable, not commercial, upholding 12AA & 80G registration. Focus on genuine activity, not incidental income.
ITAT Delhi addresses AT&T’s appeals, quashing adjustments for notional interest on receivables, mark-up on domestic services, and TDS on seconded employee reimbursements.
Delhi ITAT rules India-Hong Kong DTAA exchange of information clause not retrospective, quashing assessments beyond limitation period in Sanjay Jain Vs DCIT case.
ITAT Delhi dismisses revenue appeal, deleting Rs. 1.35 Cr addition to Bhola Nath Radha Krishan, citing lack of corroborative evidence and denied cross-examination.
Delhi ITAT sets aside a Section 263 revision after ruling the underlying reassessment order was void from the start. Reassessment initiated during active regular assessment period is invalid.
Delhi ITAT nullifies an assessment, ruling that an Assessing Officer lacks jurisdiction without a valid Section 127 transfer order. Absence of the order makes proceedings invalid, affirming procedural adherence.
Disallowance of trading losses due to SEBI’s ad-interim order and lack of detailed scrutiny by tax authorities.
