Delhi ITAT rules that the requirement of filing Form 10B is procedural, allowing Section 11 exemption for an educational trust despite delayed filing.
ITAT Delhi ruled that penalties for income misreporting cannot be imposed if there’s no malafide intention. Pranav Vikas India Pvt Ltd Vs DCIT.
n Legal Initiative For Forest And Environment (LIFE Trust) Vs PCIT (ITAT Delhi), the stay application was denied as the test for irreparable loss was not met.
ITAT Delhi held that the condition of make available was not satisfied for services when provided by assessee did not enabled the AEs to apply the technology independently. Thus, technical service provided to AEs not taxable.
ITAT Delhi rules against Instronics Limited’s bad debt claim, asserting NBFC loan was merely fund transfer, upholding Rs. 53.11 lakh disallowance.
ITAT Delhi ruled that timely EPF/ESI deposits are crucial for claiming tax deductions under Section 36(1)(va). Learn more about the Kanwar Enterprises Pvt. Ltd. case.
Assessee, a resident of USA, filed his return claiming refund of Rs.58,57,820/-. During assessment year, assessee had sold two properties for consideration of Rs.1,95,00,0000/- and Rs.72,36,552/- respectively.
The assessee had filed return of income of Rs.92,06,590 which was selected for complete scrutiny and during the course of assessment proceedings, AO had examined the expenses debited in regard to the sets under consideration.
ITAT Delhi held that passing of an order ex-parte by CIT(A) without affording adequate opportunity of hearing is unjustified. Accordingly, matter restored to the file of Ld. CIT(A).
ITAT Delhi held that addition towards excess stock merely on the basis of recorded statements and without any corroborative evidence of unaccounted sales is untenable in law. Accordingly, addition deleted.
