It was held that transactions and FAR of assessee were similar to AY 2021-22 and as per the records brought to our notice, there was no change in the activities carried out by assessee in the current assessment year and subsequent assessment years.
ITAT Delhi rules in favor of Mahadev Dairy Pvt. Ltd., deleting ₹25 lakh addition under Section 68. The loan from promoters was found genuine.
ITAT Delhi removes erroneous ₹19,253 double addition made by CPC in HPL Mercantile Pvt. Ltd. case. The amount was already included in taxable income.
ITAT Delhi held that the assessee has duly explained the source of his share of the investment made in the property purchased. Accordingly, addition towards unexplained investment under section 69 of the Income Tax Act is directed to be deleted.
ITAT Delhi held that addition based on documents seized from third party is liable to be set aside since assessing officer failed to tie contact between seized material and the assessee company. Accordingly, appeal allowed and addition deleted.
ITAT Delhi dismisses Revenue’s appeal in ACIT vs Hindukush Construction Pvt. Ltd. (AY 2016-17) due to low tax effect under CBDT Circular No. 09/2024.
Key ITAT Delhi decision in ACIT Vs Hella India Lighting Ltd.: Analysis of Section 69C addition, expense disallowance, and foreign exchange loss claims for AY 2017-18.
ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, appeal of assessee dismissed and order of CIT(A) being well reasoned is upheld.
ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustified since source of cash deposits duly explained. Hence, addition liable to be deleted.
ITAT Delhi sets aside search assessment in Amit Gupta & Sons HUF case, citing lack of proper approval under Section 153D of the Income Tax Act.
