ITAT Delhi held that by mere putting a seal as approving statement is not sufficient for initiation of reassessment proceedings u/s 147. It proves that approving authority has granted the approval in mechanical manner without application of mind and hence initiation of reassessment proceedings invalid.
ITAT Delhi held that the provisions of a DTAA (Double Taxation Avoidance Agreement) supersedes the provisions of the income tax Act in case their application is more beneficial.
Pawan Raj Goyal Vs DCIT (ITAT Delhi) ITAT Delhi held that addition of unexplained money under section 69A of the Income Tax Act via rectification order passed under section 154 stating there was mistake apparent from record is based on surmises and conjectures and hence unsustainable. Facts- Assessee has preferred the present appeal contending that […]
ITAT Delhi held that ESOP (Employees Stock Option) expense is allowable expense under section 37(1) of the Income Tax Act in computing the income in profit and loss of business or profession.
ITAT Delhi condoned delay of 306 days in filing of an appeal based on the reasonable cause that firstly assessee was in prison and when released it was lock-down.
ITAT Delhi held that reassessment proceedings without issuance of notice under section 143(2) of the Income Tax Act is bad in law and liable to be quashed.
Assessee gets his accounts audited & furnished section 44AB audit report before finalization of assessment order, so section 271B Penalty deleted
ITAT denies condonation of delay & held that Preferring appeal does not mean mere formally filing it but also taking all steps to effectively pursue the appeal
ITAT held that receipts from Satellite Transmission Services cannot be treated as royalty & not taxable at the hands of assessee in India
ITAT Delhi directed fresh adjudication to verify whether notice was served upon to the legal heir after the death of the assessee and also to verify the correct name of the assessee.
