Integlobe Aviation Ltd. Vs ITO (ITAT Delhi) The Delhi Bench of Income Tax Appellate Tribunal (ITAT) ruled that the bonafide assessee is not liable to pay the interest on the amount of shortfall in tax deducted at source (TDS). The Assessee, M/s. Interglobe Aviation Ltd. claimed that short deduction in case of M/s. Federal Travel […]
Vedvan Consultants Pvt. Ltd. Vs DCIT (ITAT Delhi) 1. In view of what has been discussed above and following the decision rendered by the Hon’ble jurisdictional High Court in case of CIT vs. Bharat Hotels Ltd. (supra), we are of the considered view that the assessee company is not entitled for deduction of Rs.4,29,110/- u/s […]
Smt. Abha Bansal Vs. Pr. CIT (Central) (ITAT Delhi) Taxability of the compensation received by the assessee for non-delivery of the Villa under Builder-Buyer Agreement The compensation received by the assessee on cancellation of the Builder-Buyer Agreement is capital receipt and taxable as capital gains. The view of the A.O. was, therefore, in accordance with […]
TDS on payment towards lease line charge was liable to deduct under section 194J as against under section 194I as lease line services were standard automatic services which were availed by any telecom service provider for the transmission of data and was not under any exclusive arrangement.
R N Khemka Enterprises (P) Ltd. Vs ITO (ITAT Delhi) Co-ordinate Benches of the Tribunal are taking the consistent view that when there is non-application of mind by the AO to the report of the Investigation Wing, such reassessment proceedings are not in accordance with law and such reopening proceedings have been quashed. Since, in […]
HCL Comnet Ltd. Vs DCIT (ITAT Delhi) It is settled principle of law that generic dissatisfaction as to the correctness of the claim of the assessee without assigning any reason is not a valid satisfaction which is mandatory under section 14A(2) of the Act, as has been held by Hon’ble Supreme Court in case of […]
ITAT Delhi upholds addition of Rs. 18.75 crore as deemed dividend in Anil Nanda’s case, citing substantial shareholding and indirect benefits. Appeal dismissed.
Addl. CIT Vs Airports Authority of India (ITAT Delhi) Perusal of the order passed by the ld. CIT (A) shows that the ld. CIT(A) deleted the penalty on two grounds : (i) that no valid notice u/s 274 of the Act has been issued to the assessee so as to inform the assessee as to […]
HCL Technologies Ltd. Vs DCIT (ITAT Delhi) Levy of penalty in this case is unsustainable because mere preferring a claim which is unacceptable to the Revenue does not ipso facto lead to levy of penalty. Here in this case, Form No. 56F duly signed by the Chartered Accountant justifies the plea of bona fide belief […]
Premier Book Company Vs Addl. CIT (ITAT Delhi) M/s Premier Book Company (Appellant) has filed the current appeal challenging the order by the Commissioner of Income Tax (Appeals) (CIT(A)) dated June 03, 2016 pertaining to Assessment Year (A.Y) 2010-11, which upheld the disallowance of depreciation on tenancy rights. The Assessing Officers disallowed the claim under […]
