Explore the ACIT Vs Zodiac Transport case as ITAT Delhi directs fresh adjudication on protective additions, influenced by the SVP Group entities recent partial relief.
ITAT Delhi decision in ACIT vs. Foot Mart Retail clarifies that liabilities, outstanding for years, not written off, cannot be added under section 41(1). Detailed analysis of the case.
Bank guarantee commission cannot be said to be a commission as intended to u/s 194H of the but it is in the nature of Bank charges charged by the bank for provision of services to the assessee. TDS not deductible.
Explore the ITAT Delhi ruling in Garg Acrylics Ltd case. Detailed analysis of alleged bogus purchases, challenges to statement validity, and successful reversal of unjustified additions.
The undisputed fact is that none appeared before the ld. CIT(A) who was convinced that the assessee did not want to pursue the appeal and, therefore, drew support from the decision of the Hon’ble Supreme Court in the case of B.N. Bhattachargee and Other [supra].
Explore the ITAT Delhi ruling in Neelam Dhingra vs. DCIT. Invalid reassessment notice against a deceased person. Legal fallacies leading to quashing of the order.
Aditya Saraf HUF Vs ITO (ITAT Delhi) It is observed, as per the investigation conducted in relation to the shares of the company, on which, the assessee offered long term capital gain, it was found that it is a penny stock company. It was also found that due to price manipulation and rigging, there was […]
ITAT held that penalty under section 271AAA(1) cannot be imposed in a case where the assessee has offered the undisclosed income in the statement recorded under section 132(4) of the Act, specifying the manner in which such income has been derived and if the assessee pays the tax along with interest of such income.
Hewitt Associates (India) Private Limited Vs ACIT (ITAT Delhi) Setoff of unabsorbed depreciation should be allowed against income from other source. Facts- The assessee, Hewitt Associates (India) Private Limited, engaged in providing support services to its associated enterprises (“AEs”). The services are software development support services and Business Process Outsourcing (BPO) services. The assessee had […]
ITAT Held that at the stage of granting registration u/s. 12AA of the Act, authority cannot examine whether the conditions for availing exemptions under Section 11 of the Act are fulfilled or not.
