ITAT Delhi upholds CIT(A) decision, ruling reassessment under Section 147 beyond jurisdiction due to lack of failure on the assessee’s part to disclose facts.
ITAT Delhi rules reassessment invalid as AO initiated it while rectification proceedings were pending. Cites Supreme Court ruling in SM Overseas Pvt. Ltd. case.
ITAT Delhi deletes Rs 33.9L Sec 69 addition for Ankur Goyal (AY 12-13) citing mother’s accepted assessment. Remands Sec 24 interest issue for verification.
ITAT Delhi rules in favor of Schenker India, allowing CSR donations under Section 80G despite mandatory nature. Read key takeaways from the case.
ITAT Delhi allows Kapil Dev a ₹1.5 Cr tax exemption on a one-time benefit from BCCI under Section 56(2)(vii). Read details of the ruling and legal arguments.
ITAT Delhi orders deletion of ₹26.35 lakh addition on cash deposits during demonetization but upholds ₹7.52 lakh addition for unreconciled purchases.
ITAT Delhi held that disallowance under section 14A of the Income Tax Act is liable to be deleted in as much as fresh investment is made out of sufficient own interest free funds in the shape of reserve and capital.
ITAT Delhi sets aside CIT(E) order rejecting Raj Krishan Jain Trust’s 12A registration due to a typographical error, directing fresh adjudication.
The assessee is a Public Sector Undertaking of Government of India and is in the business of Non-Life Insurance, The assessee offers insurance covers for large projects like power plants, petrochemical, steel and chemical plants.
ITAT Delhi held that re-assessment proceedings under section 147 of the Income Tax Act initiated due to change of opinion without having any fresh material on record is liable to be quashed. Accordingly, appeal of revenue dismissed.
