ITAT Delhi considers penalty for alleged inaccurate income particulars concerning a Section 54F exemption claim, with conflicting views on concealment versus incorrect claim.
ITAT Delhi rules rental income from leased property is taxable as ‘House Property’ for IHDP Globals, upholding consistency rule in tax assessment.
Assessee is a foreign company and a tax resident of Mauritius. The assessee is carrying on investment activity in India by way of investments in shares and debentures of Indian companies through recognized stock exchanges in India.
ITAT Delhi overturns PCIT’s revision order against Umesh Garg, ruling the original assessment wasn’t erroneous or prejudicial to revenue, citing sufficient inquiry.
ITAT Delhi grants Tata Teleservices significant tax relief, ruling pre-operative expenses for telecom expansion and customer acquisition costs as revenue expenditure.
Delhi ITAT confirms Delhi Bureau of Text Books’ educational activity, allowing Section 11 exemption despite surplus from subsidized textbook sales, citing consistent rulings.
ITAT Delhi rules in favor of Spicejet, upholding the deletion of supplementary aircraft rent disallowances, citing consistent past judgments.
Delhi ITAT voids search assessments for Kumar Nayyar, citing mechanical Section 153D approval. Orders lacked judicious application of mind for each assessment year.
ITAT Delhi held that income earned by GoDaddy.com from providing domain name registration services to Indian Customers is not taxable in India. Further, income from provision of non-domain service fall outside ambit of Fee for Technical Services and hence not taxable.
Aggrieved by CIT(A)’s order, Revenue filed an appeal before ITAT. Revenue argued that AO’s disallowances were justified, particularly the allocation of interest to joint venture accounts and the disallowance of management and land development expenses due to insufficient evidence.
