ITAT Delhi held that unadjusted cenvat credit left on closure on manufacturing unit, which cannot be utilised further, is allowable as business expenditure under section 37(1) of the Income Tax Act
An in-depth analysis of the ITAT Delhi’s order in the case Poonam C/o Sanjeev Anand vs ITO, focusing on the significance of the ruling that assessees should be given a chance to establish non-receipt of statutory notices.
An in-depth analysis of ITAT Delhi’s verdict in the case of Captive Commerce Pvt. Ltd. Vs ACIT. The tribunal quashes the reassessment order under Section 148 of Income Tax Act for vague reasons.
ITAT Delhi held that towards unexplained money u/s. 69A of the Income Tax Act merely on the basis of unsigned unexecuted draft agreement to sale without any other collaborative evidence is unsustainable in law.
ITAT Delhi deleted TP adjustment on payment of model fee for export to AEs stating that scope of TPO is limited to determination of arm’s length price and TPO cannot adjudge commercial expediency of a transaction.
Analysis of the Shiv Charan Vs ITO case by ITAT Delhi, where a fresh adjudication was ordered on income tax addition u/s 68, focusing on procedural fairness.
ITAT Delhi held that provisions of section 11(3) states that donations given out of accumulated funds u/s 11(2) of the Income Tax Act of earlier previous years are not allowable as application of income for charitable or religious purposes and the same shall be deemed to be income of the assessee.
ITAT Delhi held that estimation of profit at 10%, instead of 8% as adopted under presumptive scheme of taxation provided u/s. 44AD, justified as the same is guided by the principles of objectivity, fairness and consideration of justice.
Analysis of ITAT Delhi’s decision in Sheo Chand Yadav vs ITO, where the tribunal deleted the income tax addition related to cash deposits during demonetization.
Explore a detailed analysis of ITAT Delhi ruling on Subhash Tandon Vs ITO, which sheds light on taxability of ULIP redemption as capital gains.
