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Technology only will be considered as made available when the person acquiring such knowledge is possessed of the same enabling him to apply in future at his own.
Autoliv ASP Inc Vs The Dy. C.I.T
(2022) TaxCorp(LJ) 28444 (ITAT-DELHI)
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For allowing a cash credit, the onus is always on the assessee to substantiate with evidence to the satisfaction of the A.O. regarding the identity and creditworthiness of the Investor/Share applicants and the genuineness of the transaction.
M/S. ROYAL INFRAMART PVT. LTD. VERSUS THE INCOME TAX OFFICER, WARD – 21 (4) , NEW DELHI.
(2022) TaxCorp(LJ) 28441 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95735&Category=ITAT&CategoryType=Zip
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Provisions of Section 273B can be invoked in the case of the assessee as a reasonable cause for failure could be substantiated.
MAHANAGAR TELEPHONE NIGAM LTD. VERSUS DCIT, CIRCLE-1 NEW DELHI
(2022) TaxCorp(LJ) 28431 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95731&Category=ITAT&CategoryType=Zip
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Payment of interest on the loans which have not been proved to be for business purpose and the waiver of the loan are not interrelated but are mutually exclusive.
MATRIX CELLULAR SERVICES PVT. LTD. VERSUS DCIT, CIRCLE-16 (2) NEW DELHI
(2022) TaxCorp(LJ) 28418 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95692&Category=ITAT&CategoryType=Zip
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Revenue has failed to conduct complete enquiries to bring much needed evidences on record. Hence, in the interest of justice to both the parties, we deem it proper to remand the matter to the file of the Assessing Officer.
ACCENTOR INFOTECH PVT. LTD. VERSUS INCOME TAX OFFICER, WARD-1 (3) NEW DELHI
(2022) TaxCorp(LJ) 28417 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95693&Category=ITAT&CategoryType=Zip
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Assessee is eligible for benefit under Section 54.
Charu Agarwal Vs DCIT (International Taxation)
(2022) TaxCorp(LJ) 28407 (ITAT-DELHI) · Section 54
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The finding of learned CIT(Appeals) that the assessee has not provided break up of dividend is erroneous. Therefore, same cannot be sustained and assessing officer is directed to delete the addition.
Jaswant Singh Uberoi Vs JCIT
(2022) TaxCorp(LJ) 28404 (ITAT-DELHI)
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When tax rate is prescribed under DTAA, education cess is not leviable.
Magotteaux International SA Vs The Dy. C.I.T
(2022) TaxCorp(LJ) 28402 (ITAT-DELHI)
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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
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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
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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)
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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
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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
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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
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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
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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)
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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
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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
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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
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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
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