DCIT vs. M/s. State Farms Corporation of India Ltd. (ITAT Delhi) Reasons had been taken from the facts disclosed in the assessee’s balance sheet as well as reflected in the Profit & Loss account which were also before the AO at the time of original assessment
According to Section 151(1) proviso if the Assessing Authority who is below the rank of Assistant Commissioner or the Deputy Commissioner want to reopen the ‘case after the expiry of 4 years unless the Commissioner is satisfied that it is a fit case for issue of that notice. In the present case
The present appeals filed by the Revenue are directed against the orders of CIT(A), Faridabad, dated 27.12.2011 and 20.12.2012 passed for the assessment years 2007-08 and 2008-09 respectively. The Revenue raised the following grounds of appeal in ITA No. 1321/Del/2012
Hari Om Sewa Dal Vs. CIT(Exemptions)-ITAT Delhi- We find from the order of the Commissioner of Income Tax (Exemptions) that the registration under Section 12AA of the Act was denied to the appellant society solely on the ground that the appellant society had been claiming
The ITAT Delhi in the case of Fashion Design Council of India vs. Assistant DIT held that accumulation of income for utilization in future is allowable as deduction when the same is accumulated for meeting an object stated in trust’s charter document AND AO cannot treat the same as accumulation for general & indefinite purpose merely because that object had been most pursued one by the trust.
ACIT vs Advert Communication ( ITAT Delhi) 1.If addition has to be made for bogus purchases then sales should also be disturbed ; 2.Until and unless both parties don’t confirm the cessation of liability then addition cannot be made u/s 41(1); 3.
ITAT Delhi held In the case of DCIT vs. M/s. Spice Retail Ltd. that the expenditure incurred by the assessee on advertisement has been treated as revenue in nature. It is not open for the AO to treat an expenditure as party revenue in nature and balance 25% as deferred revenue expenditure.
ITAT Delhi held In the case of M/s SRK Education & Research Charitable Trust vs. CIT that it is clear in this case that the CIT refused to grant the trust registration because there was no dissolution clause in the trust deed and also the assessee had not done any charitable activity.
ITAT Delhi held In the case of Jaipal Singh Sharma Trust vs. CIT that it is well settled that at the stage of grant of registration, the non-commencement of the activities by the Trust cannot be a ground for refusal of registration u/s 12AA.
ITAT Delhi held In the case of Luxmi Rice Mills vs. ITO that there is no TDS liability on the assessee on account of reimbursement of expenses. In the present case, the assessee reimbursed the expenses to the bank and the bank ought to have deducted the TDS when there was a contract in between the bank and the NBHC
