ITAT Delhi deleted TP adjustment on payment of model fee for export to AEs stating that scope of TPO is limited to determination of arm’s length price and TPO cannot adjudge commercial expediency of a transaction.
Analysis of the Shiv Charan Vs ITO case by ITAT Delhi, where a fresh adjudication was ordered on income tax addition u/s 68, focusing on procedural fairness.
ITAT Delhi held that provisions of section 11(3) states that donations given out of accumulated funds u/s 11(2) of the Income Tax Act of earlier previous years are not allowable as application of income for charitable or religious purposes and the same shall be deemed to be income of the assessee.
ITAT Delhi held that estimation of profit at 10%, instead of 8% as adopted under presumptive scheme of taxation provided u/s. 44AD, justified as the same is guided by the principles of objectivity, fairness and consideration of justice.
Analysis of ITAT Delhi’s decision in Sheo Chand Yadav vs ITO, where the tribunal deleted the income tax addition related to cash deposits during demonetization.
Explore a detailed analysis of ITAT Delhi ruling on Subhash Tandon Vs ITO, which sheds light on taxability of ULIP redemption as capital gains.
ITAT Delhi held that addition under section 69C of the Income Tax Act towards unexplained expenditure based on dumb documents not sustainable in law.
ITAT Delhi held that deduction under section 54 of the Income Tax Act is allowable based on handing over of possession and not based on payment of consideration. Date of handing over of possession of new property is relevant for deduction u/s. 54.
In the case of Metro Filling Station vs. ITO (ITAT Delhi), an addition for unexplained cash deposits was challenged. The tribunal ruled in favor of the assessee.
An in-depth analysis of the case between Majestic Properties Pvt. Ltd and PCIT at ITAT Delhi. The case examines the limitations of revisionary power under section 263 based on audit objections. Discover key outcomes and implications.
