ITAT Delhi directs inclusion of Magma Advisory Services Ltd. in Honda R&D’s comparable list, rejecting TPO’s reasons and DR’s functional disparity claims.
ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed citing judicial precedents.
ITAT Delhi dismisses DCIT’s appeal against Naresh Kumar Garg due to low tax effect, citing CBDT’s Rs. 60 lakh threshold in Circular No. 9/2024.
ITAT Delhi rules against Income Tax Department’s new claims post-resolution plan approval for GAIL Mangalore Petrochemicals Ltd., citing Supreme Court precedents.
ITAT Delhi rules that interest on enhanced land acquisition compensation under Section 28 is part of compensation, not taxable income, exempting it from TDS provisions.
ITAT Delhi modifies the net profit addition after book rejection, limiting the increase to ₹1 lakh instead of ₹4 lakh for AY 2020-21.
ITAT Delhi allows 80IC deduction as Form 10CCB was filed before completion of 143(1) proceedings, ruling procedural delay does not warrant denial.
ITAT remands case regarding taxability of interest income earned before business commencement, citing need for fresh adjudication and consideration of precedents like Tuticorin Alkali.
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.
