ITAT Delhi’s decision in the case of Sumaitri Bima Distributors Pvt. Ltd vs. ITO regarding non-applicability of S.40(a)(ia) for TDS on salary before AY 2015-16.
ITAT Delhi rules addition u/s 69A for excess jewelry during a search operation unsustainable as the assessee belonged to a wealthy family and received jewelry on occasions
ITAT Delhi held that passing of final assessment order without complying with the terms of section 144C of the Income Tax Act, 1961 is untenable in law.
ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income.
ITAT Delhi rules that payments by a builder to allottees as compensation for delays are not interest under the Income Tax Act, relieving them from TDS obligations.
Discover the ITAT Delhi’s ruling on the issuance of DIN numbers on tax communications and its importance in ensuring their validity.
ITAT Delhi held that initiation of reassessment proceedings u/s. 147 of the Income Tax Act by AO based on incorrect facts and without any verification, examination and evaluation of report of Investigation Wing and other material is invalid and unsustainable in law.
ITAT Delhi held that notice issued initiating the penalty proceeding without specifying the limb of section 271(1)(c) of the Income Tax Act is bad-in-law and liable to be quashed.
ITAT Delhi held that disallowance under section 40A(2)(b) of the Income Tax Act on merely estimating that more income should have been earned from sub-contracting without bringing any comparable figures is unsustainable in law.
ITAT Delhi held that the booking fee received by the assessee from non-resident airlines is taxable as ‘business income’ and not as ‘royalty’ u/s. 9(1)(vi) of the Income Tax Act and Article 13(3) of Indo-Spain DTAA.
