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If assessee has b/fd loss not set off against profits, eligible profits u/s 80IA would be determined after setting off the business loss/ unabsorbed depreciation in the year the deduction is claimed.
Petronet LNG Ltd Vs DCIT
(2022) TaxCorp(LJ) 29586 (ITAT-DELHI) · Section 80IA
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Once the Rule 8D has been made applicable, the disallowance is automatic and there is no option left with the Assessing Officer except to estimate the disallowance as per rules.
NESTLE R & D, Centre India Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29585 (ITAT-DELHI) · Section 14A
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Revenue had decided the issue of beneficial ownership of interest only on the basis of information of assets and liabilities provided in the return of income which was mistakenly reported by assessee as Nil.
Betoking Ltd Vs ACIT
(2022) TaxCorp(LJ) 29583 (ITAT-DELHI)
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Notice issued by the revenue is bad in law if it did not specify under which limb of section 271(1)(c).
FCI Asia Pte Ltd Vs DCIT
(2022) TaxCorp(LJ) 29574 (ITAT-DELHI) · Section 271(1)(c)
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Any expense or allowance shall not be allowed from the income assessed u/s 69 but, this Section does not indicate that set off of brought forward business losses shall not be allowed from income assessed u/s 69 for the purpose of calculating tax u/s 115BBE.
ACE Infracity Developers P. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29572 (ITAT-DELHI) · Section 115BBE
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As soon as insolvency proceedings commenced under IBC 2016, all litigations are to be pursued by IRP and not by the company.
Three C Shelters P. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29571 (ITAT-DELHI)
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Whether corporate death of an entity on amalgamation invalidates a tax assessment order ordinarily cannot be determined on a bare application of Section 481 and will depend on facts of each case.
Dwarka Portfolio Pvt. Ltd Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29521 (ITAT-DELHI)
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Consultancy charges paid for introduction of client located and engaged in the business in India was in the nature of FTS, making assessee liable to withholding tax.
Hemera India Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29516 (ITAT-DELHI)
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Trade advances, which are in the nature of commercial transactions would not fall within the ambit of the word advance in section 2(22)(e) of the Act.
Today Hotels Pvt. Ltd. Vs Asstt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29509 (ITAT-DELHI) · Section 2(22)(e)
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In the professional field there are innovative ways visualized by the professional to make themselves visible and to build their own professional profile for generating higher and value added business, and such scholarships created is visibility in international arena and his social standing.
Harish N. Salve Vs ACIT
(2022) TaxCorp(LJ) 29500 (ITAT-DELHI) · Section 37
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When Revenue did not made any additions u/s 69A, CIT(A) was justified in considering the same source of income at appellate stage and was justified in making enhancement.
Shri Praveen Garg Vs The Income Tax Officer
(2022) TaxCorp(LJ) 29477 (ITAT-DELHI)
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There is a difference between conditions laid out for registration u/s 12AA and prerequisites for claiming exemption u/s 10(23C)(iiiab).
IMC of ITI Dadri Vs ITO (Exemption)
(2022) TaxCorp(LJ) 29474 (ITAT-DELHI) · Section 10(23C)(iiiab)
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Reimbursement cannot be treated as revenue receipts.
ASG Overseas Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 29473 (ITAT-DELHI) · Section 153A
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There would be no question of inviting the penalty under section 271(1)(c). Mere making of a claim, which is not sustainable in law, by itself, will not amount to furnishing inaccurate particulars regarding the income of the assessee.
IKEA Trading (India) Pvt. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29472 (ITAT-DELHI) · Section 271(1)(c)
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Even as per the amended provisions of Sec.254(2A), the assessee has paid more than 50% of the total demand except for AY 2014-15 which can be adjusted with the extra amount deposited by the assessee.
Microsoft India (R & D) Pvt. Ltd. Vs DCIT
(2022) TaxCorp(LJ) 29447 (ITAT-DELHI)
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Section 54F(1) is a mandatory and substantive provision while section 54F(4) is only a procedural section.
Ashok Kumar Wadhwa Vs ACIT
(2022) TaxCorp(LJ) 29444 (ITAT-DELHI) · Section 54F
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It is a case of simple clerical error and there is no case of contumacious conduct on the part of the appellant.
Ceramic Tableware Pvt. Ltd vs Commissioner of Customs
(2022) TaxCorp(LJ) 29441 (ITAT-DELHI)
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Where there are two possible views and the Assessing Officer has taken one of the possible views, no action to exercise powers of revision can arise, nor can revisional power be exercised for directing a fuller enquiry to find out if the view taken is erroneous.
Genpact Consulting [Singapore] Pte Ltd Vs The C.I.T
(2022) TaxCorp(LJ) 29417 (ITAT-DELHI)
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CIT(A) can tax the income which the Revenue had expressly or impliedly held as non-taxable but the CIT(A) cannot tax an item of income whose taxability had not even been considered by the Revenue.
Angel Cement Pvt. Ltd Vs Income Tax Officer
(2022) TaxCorp(LJ) 29395 (ITAT-DELHI)
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Assessee sold the property on behalf of a non-resident and transferred the money to the non-resident and according to Sec.163, assessee is an agent of the non-resident.
Manish Tyagi Vs ITO
(2022) TaxCorp(LJ) 29385 (ITAT-DELHI)
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