Rahil Marketing Pvt. Ltd. Vs DCIT (ITAT Ahmedabad) -
In a significant ruling, ITAT Ahmedabad declares an assessment order void, passed in the name of a non-existent entity after a court-approved amalgamation....
Smt. Madhu Devi Jain Vs ITO (ITAT Hyderabad) -
ITAT Hyderabad held that claim of deduction under section 54F of the Income Tax Act not available as the flats sold are not hold for a minimum period of 3 years....
ITO Vs Ashapura Petrochem Marketing Pvt. Ltd (ITAT Ahmedabad) -
ITAT Ahmedabad held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as source of cash deposit on account of sale of petrol, diesel and other petroleum products duly proved....
Hyundai Motor India Ltd. Vs ACIT (ITAT Chennai) -
ITAT Chennai held that subsidy received from Government of India under the Focus Market Scheme is Revenue in nature. The same cannot be at any stretch of imagination considered as capital in nature....
HP Services [Singapore] PTE Ltd Vs DCIT (ITAT Delhi) -
Receipts from providing information technology related support services could not be considered as royalty and/fees for technical services as while running the services, assessee had not made available any technical knowledge, experience, skill in terms of Article 12(4)(b) of the DTAA and as such, receipts in question were not FTS liable ...
Agni Estates and Foundations Private Limited Vs DCIT (Madras High Court) -
Madras High Court held that clause (xi) to Explanation to Section 153B of the Income Tax Act relating to the exclusion of the period taken for handing over seized material to the assessing officer is effective prospectively from 01.04.2021. Accordingly, prior assessment years are held to be barred by limitation....
Citygold Education Research Limited Vs DCIT (ITAT Mumbai) -
Held that the entries in the books of account of amalgamating companies prior to amalgamation cannot be part of the additions made under section 153A in the hands of the assessee (i.e. amalgamated company). Accordingly, additions deleted....
ACIT Vs Delmos Aviation Pvt. Ltd. (ITAT Delhi) -
AO without bringing any material or reasons before making any addition, simply added back the opening balances of the trade payables without making any verification from the parties and he had failed to discharge the preliminary onus and had made the addition in summary manners, therefore, CIT(A) had committed no error in deleting the add...
PCIT Vs Manoj Kapoor (Jharkhand High Court) -
Jharkhand High Court held that interest under Section 234B of the Income Tax Act has to be charged on the assessed income and not on the returned income of an Assessee....
ITO Vs Kapurba and Company (ITAT Pune) -
ITAT Pune case: Delayed possession and unresolved disputes led to non-applicability of Section 2(47), sparing the taxpayer from capital gains tax. Learn more....