DCIT Vs Sahara India Sahkari Awas Samiti Ltd. (ITAT Delhi) In DCIT v. Sahara India Sahkari Awas [ITA Nos.2481 & 2482/Del/2011 and CO Nos.221 & 222/Del/2011 decided on July 19, 20201] Sahara India Sahkari Awas (Respondent), a cooperative society of Sahara India group and is engaged in the business of development and construction of residential […]
The Hon’ble ITAT, New Delhi in DCIT v. Planman HR Pvt. Ltd. (ITA No.5152/Del/2017, dated July 15, 2021) disposed of the appeal filed by the Revenue Department (Respondent) and upheld the order passed by the Commissioner of Income Tax (Appeals) (CIT Appeals), deleting the disallowance of INR 54,31,041/- being interest on late payment of service […]
Addl. CIT Vs Gillette Diversified Operations Pvt. Ltd. (ITAT Delhi) Section 32 requires that the assessee must use the asset for the ‘purposes of business’. It does not mandate usage of the asset by the assessee itself. As long as the asset is utilized for the purpose of business of the assessee, the requirement of […]
ACIT Vs M/s Sur Buildcon Pvt. Ltd. (ITAT Delhi) LANDMARK ORDER – Bhushan group companies get big relief by ITAT DELHI – First Of This Kind Where Addition under section 68 Quashed on Sole Ground of Violation of Natural Justice. – No Second Innings Given. Addition under section 68 deleted of Rs.36.50 Crore in three […]
Falcon Business Resources Pvt. Ltd. Vs DCIT (ITAT Delhi) The lower authorities while deciding the issue whether the depreciation is allowable on mobile phones @ 15% or considering the mobile phones computers @ 60%. This issue has been decided by the solitary decision of Hon’ble Kerala High Court in the case of Federal Bank Ltd. […]
Raj Veer Singh Vs ACIT (ITAT Delhi) We are of the considered view that no doubt provisions contained u/s 234E under which late fee has been levied for defaults of period in filing the TDS/TCS statements/returns but coordinate Benches of the Tribunal have followed one approach, though there are conflicting decisions of different High Courts […]
No action appears to have been taken in the preceding assessment year treating the purchase of the shares as bogus. Therefore, once such bogus purchase is sold then the entire amount, in my opinion, cannot be added u/s 68 of the IT Act, 1961.
Addl. CIT Vs Jatinder Mehra (ITAT Delhi) It is apparent that assessee does not own any share capital in case of Watergate advisors Limited as well as it also does not controls the above company as he does not have any shareholding or management rights in that With respect to the mention of the name […]
Sh. Chand Singh Vs DCIT (ITAT Delhi) n the present case it is an undisputed fact that there was a failure by the AO to comply with the mandatory requirement of disposing of the objections raised by the assessee to the reopening of assessment in terms of the law laid down by the Hon’ble Supreme […]
Yum! Restaurants Marketing Private Ltd. Vs ITO (ITAT Delhi) The assessee’s first claim with respect to the income of the assessee not chargeable to tax because of principles of mutuality has already been decided by the Hon’ble Supreme Court in assessee’s own case reported in 424 ITR 630. The Hon’ble Supreme Court dismissed the appeal […]
