ITAT Delhi ruling: DCIT Vs Jah Developers Pvt. Ltd. ITAT deletes addition of notional rental income. Detailed analysis of the case and its implications.
ITAT Delhi held that details of business promotion expenditure duly produced and it is also demonstrated that company being FMCG distribution/advertisement expenses for substantial part of expenditure. Accordingly, disallowance u/s 37 of the Income Tax Act unjustified.
In a case involving Anand Persad Jaiswal, ITAT Delhi ruled that interest income earned by a non-resident Indian (NRI) from a foreign bank is not taxable in India under section 5(2) of the Income Tax Act.
In the cases related to Sunder Lal vs. ITO (ITAT Delhi) for AY 2011-12 and 2012-13, the ITAT directs re-adjudication due to lack of effective representation and challenges to additions.
In the case of Rai Bahadur Narain Singh Sugar Mills Ltd. vs. ACIT, ITAT Delhi rules that no disallowance can be made for delay in EPF payment due to technical issues.
In the case of J.R. Rice India Pvt. Ltd. vs. ACIT, ITAT Delhi removes Income Tax addition under section 68 for cash deposits during demonetization, citing no abnormal sales.
ITAT Delhi held that disallowance of interest u/s. 36(1)(iii) of the Income Tax Act to be restricted to the borrowed amount which is not used for business purpose.
ITAT Delhi held that the assessee failed to produce books of account before AO as well as before CIT(A). Books were produced before Tribunal. Accordingly, matter restored back to AO with direction to consider the documents produced and adjudicate the issue accordingly.
ITAT Delhi held that invocation of revisionary power u/s. 263 of the Income Tax Act unsustainable as Assessing Officer duly carried out all the inquiry before passing assessment order u/s. 143(3) of the Income Tax Act.
ITAT Delhi affirms penalty under section 271(1)(c) of Income Tax Act against Amandeep Singh Sran for concealing income. Analysis of the case and its implications.
