ITAT Delhi held that interest receipt under Technology Upgradation Fund Scheme (TUFS Scheme) being capital in nature needs to be excluded while working out the book profits under section 115JB of the Income Tax Act.
ITAT Delhi ruled in favor of appellant, holding that they had indeed complied with statutory notice and therefore levy of penalty under section 272A(1)(d) of the Act was not justifiable
ITAT Delhi’s verdict in the case of Gawar Constructions Co. Vs DCIT, illuminating the importance of clear particulars in the imposition of tax penalties. Understand how discrepancies between the initial ‘satisfaction’ and the grounds for penalty can lead to quashing of penalty orders.
ITAT Delhi’s decision in case of Sumita Devi Vs ITO, showcasing how chronic health conditions can impact filing of appeals and lead to ex parte orders.
In the landmark case of ACIT vs Kamal Kapoor, ITAT Delhi invalidates reassessment order for lack of thorough examination and due diligence
ITAT Delhi held that as the original return was only processed u/s 143(1), AO can duly initiate re-opening of proceedings under section 147 of the Income Tax Act so as to bring the escaped income into tax.
In Sharon Agarwal Vs ITO, ITAT Delhi deletes addition of cash gifts received from mother. Explore implications of this landmark decision
ITAT Delhi held that assessment order based on notice issued under section 148 not by the jurisdictional AO is unsustainable and liable to be quashed.
ITAT Delhi held that expenditure towards gift to persons who work for the assessee company during Diwali occasion is held for the purpose of business as per the principle of commercial expediency and accordingly allowable as business expenditure.
ITAT Delhi held that it is settled principle of law that crates and bottles have been allowed depreciation. Accordingly, the claim of depreciation is allowable.
