ITAT Delhi held that the reassessment notice issued under Section 148 is clearly time barred owing to non compliance conditions prescribed on 1st proviso to Section 147 of the Act. Accordingly, re-assessment proceeding is illegal and without jurisdiction.
ITAT Delhi case where Catvision Ltd was wrongfully demanded Dividend Distribution Tax by the AO despite timely payments.
ITAT Delhi nullifies Section 271B penalty on Parag Jain, asserting that only difference in non-delivery derivative transactions should be taken into account when determining turnover for a tax audit.
ITAT Delhi held that maintenance charges not connected to the rental income cannot be considered as part of rental income. Accordingly, maintenance charge collected is taxable as business income.
ITAT Delhi held that addition u/s 69 of the Income Tax Act towards unexplained investment untenable as source of investment made by the appellant stands sufficiently explained.
ITAT Delhi held that as per provisions of section 44 of the Income Tax Act there is no requirement of head wise bifurcation while computing income u/s 44 in case of insurance company. Thus, provisions of section 14A are not relevant to make a disallowance.
ITAT Delhi allows INX News Pvt Ltd to claim a business loss, asserting the Assessing Officers failure to comprehend the nature of the companys business activity.
Analyzing the recent ITAT Delhi verdict in the Inter Globe Air Transport Vs ACIT case, highlighting the re-adjudication directive due to improper verification under Section 154 of the Income Tax Act.
Analysis of a significant case – Manohar Lal Sarraf and Sons Pvt Ltd Vs Pr. CIT, where ITAT Delhi overturned a revision order under Section 263 of the Income Tax Act due to lack of jurisdiction. Dive into the details of the ruling
ITAT Delhi partially approves the appeal by the assessee in Sudha Vs ITO, eliminating additional cash deposit sourced from past savings and agricultural activities.
