Delhi Call Centre Private Limited Vs DCIT (ITAT Delhi) The only objection to the allowance of depreciation by the Lower Authorities is that the assessee could not produce copy of purchase invoice of the vehicle. It is undisputed that the Department has allowed interest on vehicle loan as well as has also allowed the expenditure […]
WGF Financial Services Pvt. Ltd. Vs ACIT (ITAT Delhi) The assessee is engaged in the business of financing which included lending, advancing money, standing guarantor etc. and in its ordinary course of business, the assessee gave guarantee to the borrowings made by CIPL. As per the Agreement, CIPL was supposed to transfer shares held by […]
Barnala Steel Industries Ltd Vs ACIT (ITAT Delhi) Consolidated Issue of Notice In Search Case For Different Assessment Years Makes Entire Assessment Order Invalid We have heard both the parties and perused all the relevant material on record. From the perusal of the notice issued u/s 153A r.w.s. 153C/143(2) of the Act, it is a […]
USG Buildwell Pvt. Ltd. Vs Additional CIT (ITAT Delhi) The Ld. DR submitted that the disallowance u/s 37 on account of additional payment for purchase of land was righty made as the assessee could not establish his case as the expenditure was incurred without any substantial evidence produced before the Assessing Officer to that effect […]
Sungrow Impex Private Limited Vs ITO (ITAT Delhi) Conclusion: CIT had recorded his satisfaction for reopening of the assessment in a most mechanical manner without considering even the assessment records or the return of income filed by assessee and his satisfaction appeared to be in a ritualistic and formal rather than meaningful. Therefore, such approval […]
Only those investments which had yielded dividend income for computing the average value of investments would be considered for the purpose of computing the amount of disallowance u/s 14A.
Sarita Singh Vs Addl. CIT (ITAT Delhi) Section 273B of the I.T. Act provides that no penalty shall be imposable on the persons or the assessee as the case may be for any failure referred to in section 271D of the I.T. Act, if he proves that there was a reasonable cause for the said […]
DCIT Vs Hero Fin Corp Ltd. (ITAT Delhi) The assessee is earning lease rent from the lease charges of cars, plant & machinery given on hire to M/s Hero MotoCorp. The AO held that the income of the hire charges are to be chargeable under the head “income from other sources” but not under the […]
Amadeus India challenges ITAT Delhi’s transfer pricing adjustment on AMP expenses and disallowance under section 14A. Full text of the ITAT order provided.
DCIT Vs Realistic Realitors Pvt. Ltd. (ITAT Delhi) In this case the A.O. in the light of information emanating from the search of Shri Praveen Agarwal came to the conclusion that assessee has wrongly claimed deduction on account of sub-brokerage paid to M/s. Taral Vincom Pvt. Ltd., The A.O. in the entire assessment order did […]
