Shri Abdul Hakeem Vs ITO (ITAT Delhi) ITAT notice that the assessee has filed the appeal belatedly where the number of days delayed has not been specified. The delay in our understanding is about 14 months 10 days. No explanation worth the name has been provided to justify the delay. It is trite that the […]
The tide up grants for a specific purpose would only mean that the assessee which was voluntarily organization, had agree to act as a trustee of a special fund granted by the donor with the result that it need not be pooled or integrated with the assessee is normal income or corpus.
ITAT Delhi held that amendment to section 36(1)(va) are effective from 1st April 2021 and hence disallowance of employees’ contribution to EPF and ESI paid before due date of filing return of income is unsustainable
TDS credit was allowed as the commission income was not managerial service under India Germany Double Taxation Avoidance Agreement (DTAA).
Circular No. 723 dated 19.09.1995 – Section 172 applies to payments made to agents of foreign shipping companies so, section 194C not applies
Held that electricity is capable of abstraction, transmission, transfer, delivery, possession, consumption and use like any other movable property. Hence, additional depreciation u/s. 32(1)(iia) available to the assessee on activity of power generation.
Held that interest payment on late payment of TDS is not eligible business expenditure for deduction and it is not compensatory in nature.
Geo Connect Ltd Vs DCIT (ITAT Delhi) The factual matrix reveal that the assessee is in real estate business and for that purpose it purchased an agricultural land from one Sh. Ugma, an old man of 75 years. Towards sale consideration of the said land, the assessee issued bearer cheques for an amount of Rs. […]
Section 249(4)(b) of Income Tax Act, 1961 cannot be invoked when return of income filed by assessee was selected for scrutiny and assessment
No addition was called for more so, when no evidence about the expenses being bogus in nature has been brought on record by the Revenue.
