ITAT Delhi held that the revenue authorities are not entitled to appropriate the taxes which have been paid in excess of the due taxes to be paid by the assessee. Accordingly, reducing refund by withdrawing benefit of TDS on advance rent received is unjustified.
ITAT held that in the absence of an ascertainable amount and identifiable payee, the machinery provisions of recovering tax deducted at source falls flat
ITAT Delhi held that hollow and cosmetic approval accorded under section 153D of the Income Tax Act without application of mind is unenforceable in law and hence liable to be quashed.
ITAT Delhi held that reopening of assessment proceedings merely on the basis of information received from the investigation wing is invalid and bad in law and hence liable to be quashed.
ITAT Delhi held that assessee would be entitled for deduction on account of bad debts written off as part of the sales amount is not received.
ITAT Delhi held that cost of new property for the purpose of exemption under section 54 has to be assumed to be value of interests and share in the new construction, as per the collaboration agreement and the sale deed terms.
ITAT Delhi held that disallowance under section 14A of the Income Tax Act cannot exceed the exempt income.
ITAT Delhi held that as payments made to the non-resident service providers not chargeable to tax in India, thus disallowance u/s 40(a)(ia) of the Income Tax Act on account of non-deduction of TDS is unsustainable.
ITAT Delhi held that expenses in relation to import of rubber process oil, loss on price fluctuation, freight and retention charges are incurred in the course of carrying on business and hence allowable as deduction u/s 37(1) of the Income Tax Act.
ITAT Delhi held that as per definition of block of assets u/s. 43(6)(c) of the Income Tax Act there is no condition that the plant and machinery must have been put to use.
