ITAT Delhi held that addition towards long term capital gain sustained as assessee failed to furnish confirmation from the purchaser company as lower sale consideration was claimed by assessee.
ITAT Delhi held that invocation of revisionary power u/s 263 of the Income Tax Act without satisfying two conditions i.e. order was erroneous and it was prejudicial to the interest of revenue is unsustainable in law and liable to be quashed.
ITAT Delhi held that rejection of valuation merely on the ground that on the date of issue of shares, DCF method was not there in Rule 11UA of the ITAT Rules is unjustified in as much as AO failed to demonstrate that methodology adopted by the assessee was not correct.
ITAT Delhi held that maintenance charges received from corporate members is exempt on principle of mutuality. The said receipt doesn’t become taxable merely because it was subjected to deduction of tax at source.
ITAT Delhi held that addition u/s. 68 towards unexplained unsecured loan unsustainable as the onus which lays upon the assessee to explain that the entries made are real and not fictitious, has been duly discharged.
In case of Maharaja Ganga Mahal vs. ITO (TDS) in ITAT Delhi, where TDS exemption was claimed for interest payments to AU Financiers. Learn outcome and implications
ITAT Delhi held that addition under section 68 of the Income Tax Act treating share application money from undisclosed source unsustainable as burden duly discharged by filing confirmation, affidavit, copy of income tax return and bank statement of respective parties.
In case of Prtatap Singh Yadav Vs DCIT (ITAT Delhi) assessment order was declared invalid due to non-compliance with CBDT Circular No.19/2019.
Explore the case of Brandix Mauritius Holdings Ltd vs DCIT, where a missing Document Identification Number (DIN) led to the invalidation of an income tax assessment order
Aamor Inox Ltd’s appeal against the IT department’s order on MEIS License treatment under the Income Tax Act is directed for denovo adjudication by ITAT Delhi.
