Microsoft Regional Sales Pte. Ltd. Vs ACIT (ITAT Delhi) While in the A.Y. 2018-19, the protective addition has been made in the hands of the assessee and the substantive addition has been made in the Mol Corporation during the A.Y. 2019-20, the substantive addition has been made in the case of assessee as the case […]
Devinder Gupta & Sons (HUF) Vs CIT (ITAT Delhi) It is an admitted position that the assessee had taken loan from the lender in the earlier years, a part of which has been repaid during the year albeit in cash. The amount of loan has been consequently reduced. A confirmation whereof from the lender has […]
ITAT Delhi held that in absence of any reasonable cause for taking cash loan (i.e. contravening provisions of section 269SS of the Income Tax Act), penalty under section 271D of the Income Tax Act duly leviable.
ITAT Delhi held that disallowance of Electricity Duty payable by the assessee by invoking provisions of section 43B of the Income Tax Act, 1961 is unwarranted and unjustified.
ITAT Delhi held that when the investment in house property is done jointly, claim under section 54 of the Income Tax Act is restricted to the 50%.
ITAT Delhi held that capital gain cannot be taxed in the hands of the person who sold the property as attorney of the owner. The same is taxable only in the hands of the owner of the property.
ITAT Delhi held that TDS under section 194C of the Income Tax Act is deductible on payments made towards bus hire charges and wharfage charges.
ITAT held that Interest under section 234B and 234C not chargeable, if entire income of the assessee was subjected to TDS.
ITAT Delhi held that TDS under section 194A of the Income Tax Act duly deductible on interest paid by subsidiary company to its holding company.
ITAT Delhi held that interest income on income tax refund is chargeable at the rate of 10% as per Article 11 of India – Japan tax treaty.
