Understand the grounds of appeal in the case against the final assessment order under the Income Tax Act, 1961, for AY 2017-18, involving taxability of employee cost reimbursements and more.
In the case of Rajni Dua Vs ACIT, ITAT Delhi orders reassessment due to discrepancies in property ownership and leasehold rights. Detailed analysis provided.
ITAT Delhi rules non-resident’s salary for services rendered abroad not taxable in India, providing significant relief under India-Australia DTAA.
Read the detailed analysis of Amit Katyal Vs DCIT (ITAT Delhi) where no corroborative evidence was found to prove a Rs. 5 crore payment, leading to deletion of the addition.
Reassessment proceedings initiated by officers without jurisdiction and completed by different officers without recording fresh reasons are legally untenable.
ITAT observed that reasons recorded by AO for reopening assessment did not mention name of assessee’s broker or specific details implicating assessee in fraudulent CCM transactions. Information provided did not establish a direct link between assessee and alleged tax evasion practices.
DCIT Vs J. K. Techno soft Ltd (ITAT Delhi) Conclusion: Forward mark contracts on foreign currency was incurred during the normal course of business and the losses incurred were the part and parcel of the business activity of assessee, which were allowable as business expenditure and not speculative in nature, thus any expenditure incurred for […]
Explore the detailed analysis of ITAT Delhi’s ruling on the appeal filed by ACIT against Dish Infra Services Pvt. Ltd., covering unexplained cash credit, debenture issue expenditure, and interest disallowance.
Tribunal concluded that assessee was not real beneficiary of transaction but merely acted as a facilitator. Therefore, additions made under section 56 of Act were deemed arbitrary and were overturned.
Explore the case of Snapdeal Ltd. vs. ACIT, involving a dispute over the tax treatment of business promotion expenses. Detailed analysis of ITAT Delhi’s decision provided.
