Assessee can avail the benefit of Capital Gain Exemption if Provisional Possession of the New Property is transferred within 2 Years: Delhi ITAT
The Delhi ITAT, in a significant ruling, held that assessee can avail the benefit of capital gain exemption if provisional possession of the new property was transferred within two years of disposal of the old
Eligible Deductions cannot be Disallowed Merely on Ground of Technicalities: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently in an appeal filed before it, held that eligible deductions cannot be disallowed, merely on ground of technicalities. The aforesaid observation was made by the
Force of Attraction Rule will not Apply, Unless There is Even a Remote Link Between Activities of Other Projects with PE in Question: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held that the force of attraction rule will not apply, unless there is even a remote link between the
Late Fee u/s 234E Not Leviable for Belated Filing of TDS statements Filed Prior to 01.06.2015: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, held that late fee u/s 234E, is not leviable for belated filing of TDS statements, filed prior
Relief to Travelport: Assessee Not Responsible to Explain Recipients of Receipts shown in Form No.26AS, rules ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, while granting relief to Travelport, held that the assessee not responsible to explain recipients of receipts shown
Replacement of Old Tube Light with LED lights is Revenue Expenditure in Hotel Business: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently in an appeal filed before it, held that replacement of old tube light with LED lights, is revenue expenditure in hotel business. The aforesaid observation
“State cannot Clutch the Undue Benefit of Mistake Committed by Tax Payer”: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, held that State cannot clutch the undue benefit of mistake committed by the taxpayer. The aforesaid observation
Jurisdiction of the Bench shall be determined by the location of the Assessing Officer: ITAT dismisses Appeals [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, while dismissing the appeals filed before it, held that the jurisdiction of the bench shall be determined by the location of the assessing officer. The
Notice Issued u/s 271(1)(c) of Income Tax Act is Omnibus: ITAT deletes Penalty Proceedings [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, deleted the penalty proceedings, on finding that the notice issued u/s 271(1)(c) of Income Tax Act is
Notices Issued by the AO Turned Bad in Law Being Vague:  ITAT Holds Penalty Proceedings Initiated u/s 271(1)(c) as unsustainable [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, held the penalty proceedings-initiated under Section 271(1)(c) of the Income Tax Act, 1961 as non- sustainable, when notices issued
Addition Against Housewife for having Deposit of Rs.2,40,000/- during Demonetization Period is Against CBDT Circular: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, ruled that addition made against housewife for having a deposit of Rs.2,40,000/, during demonetization period, is against CBDT Circular.
TDS on Interest Income on FDRs: ITAT Rejects Plea by Emaar’s Subsidiary on Interest paid to Parent Company [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it regarding TDS on interest income on FDRs, rejected the plea by Emaar’s subsidiary on interest paid to
Expenditure towards Customer Contracts and Assembled Workforce are ‘Capital’ in Nature: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has recently, in an appeal filed before it, held that expenditure towards customer contracts and assembled workforce are “capital” in nature. The aforesaid observation was
Dept. Fails to Submit Contradictory view to CIT(A)’s Decision: ITAT allows Depreciation Expenses on Crates [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on failure of the department to submit a contradict view to the CIT(A)’s decision, confirmed the deletion of addition
Assessee Misguided by Professional in Appellate Proceedings: ITAT remands Farmer’s Exemption Claim u/s 54F [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, on finding out that the assesee was misguided by the professional in appellate proceedings, remanded a farmer’s exemption claim