Delhi Tourism and Transport Development Corporation Ltd. Vs DCIT (ITAT Delhi) It was obvious that if no deduction was claimed, there can be no question of disallowance under section 40(a)(i), therefore, matter was remitted to file of the AO for considering assessee’s claim about not having claimed any deduction for this sum in computation of […]
DCIT Vs. M/s. Erawat Infotech Pvt.Ltd. (ITAT Delhi) In the instant case, the information is specific having detail of value of the amount of accommodation entry taken, the instrument and date through which entry was taken, name and account number of the entry provider were available before the Assessing Officer and thus we cannot hold the information […]
Where special auditor was appointed under section 142(2A) at fag-end of expiry of limitation to pass assessment order and for sole purpose of extending limitation period for assessment order, i.e., just before 23 days in expiry limitation under section 153(1) such appointment was illegal and invalid therefore, to be quashed.
Shri Niranjan Dass Vs ITO (ITAT Delhi) All facts when considered with reasons recorded for reopening of the assessment would lead to only one conclusion that the reasons recorded for reopening the assessment are devoid of any application of mind. In our considered opinion, such reopening cannot be upheld. We, accordingly, quash the notice u/s […]
Rudraksha Agencies Co. Ltd. Vs DCIT (ITAT Delhi) Once it is found that assessment is framed in the name of non-existing entity, it does not remain a procedural irregularity of that nature which could be cured by invoking the provisions of section 292V of the Act. Framing of assessment against a non-existing entity/person goes to […]
ACIT Vs Sh. Bhavi Chand Jindal (ITAT Delhi) Since no specific query was raised, at the time of recording statement under section 132(4) and during the assessment proceedings, however, the manner was substantiated by filing written submission and also referring relevant documents relating to undisclosed income, which were found and seized. Therefore, assessee was not […]
ATS Infrastructure Ltd. Vs ACIT (ITAT Delhi) Completed assessments can be interfered with while making assessment under section 153A only on the basis of some incriminating material unearthed during search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made […]
Maruti Countrywide Auto Financial Services Pvt. Ltd. Appeal: Loss On Foreclosure Of Loan Held To Be Deductible While Computing Its Income
DCIT Vs HMS Real Estate Pvt. Ltd. (ITAT Delhi) It is held that when an assessee whose business is to develop real estates, is in a position to perform certain acts towards the acquisition of land, that would clearly show that it is ready to commence business and, as a corollary, that it has already […]
M/s OSE Infrastructure Ltd. Vs ACIT (ITAT Delhi) When the revised return is accepted and the income is assessed as per the revised income, there is no scope for penalty. In the case of Kirit Dahyabhai Patel vs ACIT, (2017) 80 Taxmann.com 162 (Guj), the Hon’ble High Court held that in view of specific provision of Section […]
