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ITAT Delhi

Section 40(a)(i) not applicable if TDS is deducted & paid within prescribed time

May 30, 2024 3372 Views 0 comment Print

The ITAT Delhi deletes Rs. 1.83 crore addition in the case of Ayesa Ingenieria Y Arquitectura, confirming TDS on expat salaries was duly deposited.

ITAT Delhi Upholds Bonafide of Cash Sales During Demonetisation

May 30, 2024 3921 Views 0 comment Print

ITAT Delhi confirms ACIT vs. Delhi Spot Bullion Trading Co. cash sales during demonetisation were legitimate, dismissing Revenue’s appeal.

ITAT Orders Re-adjudication Due to Arbitrary Profit Estimation

May 30, 2024 573 Views 0 comment Print

ITAT Delhi directs re-adjudication of J.M. Voith SE & Co. KG Vs DCIT case regarding taxability of offshore supplies and profits attribution to PE in India.

Reassessment Notice Under Section 148 Invalid If Issued After Four Years

May 28, 2024 12981 Views 0 comment Print

Learn why a reassessment notice issued under Section 148 beyond the four-year period from the end of the relevant assessment year is deemed invalid, with insights from a recent ITAT decision.

Section 154(1A): AO cannot rectify any matter already decided in Appeal proceeding

May 27, 2024 2871 Views 0 comment Print

Discover the ITAT Delhi ruling in Anurag Singh vs. ITO, where it was decided that AO cannot rectify issues already settled by CIT(A). Full case analysis and implications.

ITAT Deletes Section 271DA Penalty: Bonafide Mistake in New Legislation

May 27, 2024 2352 Views 0 comment Print

ITAT Delhi rules no penalty for All Fresh Supply Management Pvt. Ltd. under Section 271DA, acknowledging no intent to evade tax. Read the full judgment here.

Additions solely based on undated, unsigned & unrelated loose papers not justified

May 27, 2024 1866 Views 0 comment Print

Discover how the ITAT Delhi deleted the addition u/s 69 in Vipul Gupta vs DCIT, highlighting the significance of evidence and agreements in tax assessments.

No Section 68 Addition for Explained Cash Deposits in Lender Bank Account

May 27, 2024 3105 Views 0 comment Print

Devki Nandan Maheshwari vs ACIT (ITAT Delhi) case: Exploring how cash deposits in lender’s bank account were accepted as explained sources, justifying an unsecured loan under Section 68 of Income Tax Act.

No Section 56(2)(viib) Addition Required for Discrepancy of less than 10%

May 24, 2024 1341 Views 0 comment Print

Discover the ITAT Delhi’s ruling on Sakshi Fincap Pvt. Ltd. vs. ITO, addressing valuation discrepancies and retrospective amendments under Section 56(2)(viib) of the Income Tax Act.

No section 271(1)(c) penalty for mere section 35(2)(AB) claim disallowance

May 24, 2024 813 Views 0 comment Print

xplore DCIT Vs Polyplex Corp. Limited case. Learn why penalty for disallowed tax claim isn’t justified. Details & key takeaways here.

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