-
The receipts arising from transfer of carbon credits are in the nature of capital receipts not subjected to tax.
SRF LIMITED VERSUS ASST. CIT, CIRCLE-1 LTU NEW DELHI
(2022) TaxCorp(LJ) 28398 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95644&Category=ITAT&CategoryType=Zip
-
The commission income belonged to the HUF and rightly returned by it. Therefore, correct hand for taxing such income is HUF and not the assessee.
MANISH GUPTA VERSUS THE DY. C.I.T., CENTRAL CIRCLE MEERUT
(2022) TaxCorp(LJ) 28396 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95651&Category=ITAT&CategoryType=Zip
-
Estimated revenue for the year and the percentage of project completed was not disputed by the AO, and thus it was not open for the CIT(A) to take a contrary view in the remand proceedings without any corroborative evidence on record.
Nortel Networks India Pvt. Ltd Vs Dy. CIT
(2022) TaxCorp(LJ) 28391 (ITAT-DELHI)
-
We set aside the order of the CIT(A) and AO is directed to allow the exemption.
CHURCH’S AUXILIARY FOR SOCIAL ACTION VERSUS ITO, TRUST WARD-III, NEW DELHI.
(2022) TaxCorp(LJ) 28389 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95604&Category=ITAT&CategoryType=Zip
-
The assessee is entitled to deduction being the provision created on account of fraud committed by one of its employees which caused loss to the leasing company. Therefore AO is directed to allow the deduction in full.
HELTI INDIA PVT. LTD. VERSUS ADDL. CIT, SPECIAL RANGE-4, NEW DELHI.
(2022) TaxCorp(LJ) 28388 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95608&Category=ITAT&CategoryType=Zip
-
The plea of the assessee is not acceptable.
SMT. LATA GARG VERSUS THE DCIT, CENTRAL CIRCLE-4, DELHI.
(2022) TaxCorp(LJ) 28369 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95583&Category=ITAT&CategoryType=Zip
-
The assessee is entitled to claim the benefit of deduction u/s 54 of the IT Act on account of sale of the property and the subsequent investment in the residential property.
CHARU AGARWAL VERSUS DCIT (INTERNATIONAL TAXATION) , CIRCLE GURGAON. AND (VICE-VERSA)
(2022) TaxCorp(LJ) 28363 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95560&Category=ITAT&CategoryType=Zip
-
Each AY is separate and, therefore, judgment adjudicated in one AY on the basis of substance before them cannot be regarded as binding in the assessment of subsequent years.
Bentley Nevada Inc. Vs The Dy. C.I.T
(2022) TaxCorp(LJ) 28352 (ITAT-DELHI)
-
For exercising power under section 154 of the Act, there should exist a mistake apparent from record.
MAHANAGAR TELEPHONE NIGAM LTD. VERSUS DCIT, CIRCLE-1, LTU, NEW DELHI
(2022) TaxCorp(LJ) 28348 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95550&Category=ITAT&CategoryType=Zip
-
Even after house-hold withdrawal, there was a huge amount available with the assessee in the form of cash. So it cannot be held to be improbability that assessee did not have any availability of cash at the time of demonetisation.
OM PARKASH NAHAR VERSUS INCOME TAX OFFICER, WARD 67 (2) NEW DELHI
(2022) TaxCorp(LJ) 28334 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95472&Category=ITAT&CategoryType=Zip
-
Interest on income tax refund is not effectively connected with the PE either on the basis of asset- test or activity- test. Hence, it is taxable as per the provisions in the Para No. 2 of Article XI of Indo- US DTAA.
TRANSOCEAN OFFSHORE INTERNATIONAL VENTURES LTD. VERSUS DCIT (INTL. TAXATION) , CIRCLE-2, NOIDA
(2022) TaxCorp(LJ) 28332 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95475&Category=ITAT&CategoryType=Zip
-
Interest on late payment of Service Tax is not penal in nature. Since, it is compensatory in nature, it is eligible for deduction u/s. 37(1) of the Act.
WIPRO GE HEALTHCARE PVT. LTD. VERSUS DCIT, CIRCLE-12 (1) NEW DELHI
(2022) TaxCorp(LJ) 28330 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95481&Category=ITAT&CategoryType=Zip
-
Interest on income tax refund is not effectively connected with the PE either on the basis of asset-test or activity-test. Hence, it is taxable as per the provisions in the Para No. 2 of Article XI of Indo-US DTAA.
Transocean Offshore International Ventures Ltd Vs DCIT (Intl. Taxation)
(2022) TaxCorp(LJ) 28327 (ITAT-DELHI)
-
Losses, other than capital losses, which arise out of and are incidental to the business of assessee must be necessarily deducted in the ascertainment of profits of the business u/s. 28 of the Act.
ACIT, CIRCLE-11 (2) NEW DELHI VERSUS HUMBOLDT WEDAG INDIA PVT. LTD.
(2022) TaxCorp(LJ) 28323 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95440&Category=ITAT&CategoryType=Zip
-
The assessee has not furnished any certificate from the Auditor as there was any error or mistake in his audit report. Therefore, in the absence of such certificate by the Tax Auditor, we do not see any reason to interfere in the findings of the authorities.
BINDRA AUTOMOTIVE SYSTEM PVT. LTD., C/O-SSAR AND ASSOCIATES, CA VERSUS ITO, WARD-5 (1) , NEW DELHI.
(2022) TaxCorp(LJ) 28313 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95389&Category=ITAT&CategoryType=Zip
-
No disallowance was called for on telephone expenses and the assessee is entitled to said deduction U/s 37(1) of the Act, accordingly, we direct to delete the same.
MAHARANI OF INDIA VERSUS A.C.I.T., CIRCLE-53 (1) NEW DELHI
(2022) TaxCorp(LJ) 28305 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95356&Category=ITAT&CategoryType=Zip
-
The notice issued by the AO was bad in law since it did not specify under which limb of Sec.271(1)(c) the penalty proceedings had been initiated.
Sucon India Ltd Vs Dy. Commissioner of Income Tax
(2022) TaxCorp(LJ) 28302 (ITAT-DELHI) · Section 271(1)(c)
-
In the draft assessment order no variation in the Assessee's income was proposed and thus, assessment should have been passed as per Sec. 153 r.w. 143(3).
Silver Bella Holdings Limited Vs The Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 28301 (ITAT-DELHI) · Section 144C(1)
-
Deduction under section 54F of the Act can be claimed to the extent of amount of capital gain utilized till the filing of the return under Section 139(4) of the Act.
SMT. CHANDER KANTA MAHESHWARI VERSUS INCOME TAX OFFICER, WARD 35 (2)
(2022) TaxCorp(LJ) 28287 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95303&Category=ITAT&CategoryType=Zip
-
Once learned PCIT has no administrative power under Section 263(1) of the Act to revise the order of the TPO, he cannot revise the assessment order passed thereafter in compliance to the provision contained under Section 92CA(4).
M/S JCB INDIA LTD. VERSUS DCIT, CIRCLE-13 (2) NEW DELHI
(2022) TaxCorp(LJ) 28286 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95305&Category=ITAT&CategoryType=Zip
Headnote lines are open to everyone. The full headnote and the judgment text open with a subscription — see plans or sign in.