In a significant decision, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that product development expenses should be classified as revenue expenditure and are eligible for deduction. The company is

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) held that no addition should be made when commissions earned from consignment sale of food grains are reflected in profit and loss account. The Assessee, Keshar Devi,

The Delhi High Court upheld the Income Tax Appellate Tribunal's ( ITAT ) decision today, confirming the recovery of outstanding income taxes demand exceeding Rs. 100 crores for the assessment year 2018-19. The court refused

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) amount advanced for business transactions between shareholding entities are not deemed dividend under Section 2(22)(e) of the Income Tax Act, 1961. Therefore the

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) ruled that addition under Section 68 of the Income Tax Act, 1961 should not be made, when authenticity/genuineness of share application money received from various

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) held that no disallowance should be made under Section 40A(2) of Income Tax Act in respect of payments of supervision and risk management charges to relative

In a significant ruling the Delhi High Court observed that appending phrase 'Yes' by the Principal Commissioner of Income Tax ( PCIT ) is not valid approval under Section 151 of the Income Tax Act,

When it comes to capital gains tax, many people automatically think of property transactions. Investing in property is a significant financial decision, and many couples opt to buy property in one spouse's name. While this

Under GST, Exports and supplies to SEZ are zero rated as per section 16 of the IGST Act, 2017. By zero rating it is meant that the entire supply chain of a particular zero-rated supply

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) deleted 30% disallowance made on the expenditure incurred on mobile distribution business due to failure to point out the deficiency in books of accounts. The

The  Delhi bench  of  Income Tax Appellate Tribunal (ITAT) held that approval under Section 153D of the Income Tax Act, 1961 granted by the Joint Commissioner of Income Tax (JCIT)  for the search assessment was

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) deleted additions made towards the loss incurred on the derivative transactions carried through the proper banking channel. The Assessee Kulvinder Nath Marwah, is an

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently quashed assessment order passed under Section 153C of the Income Tax Act, 1961 due to non-filing of draft assessment order specified under Section 144(1)

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) while deleting the disallowance made by the assessing officer towards the interest expenses held that interest paid on loans borrowed for real estate and finance

In a major ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the addition under section 68 of the Income Tax Act, 1961 upon submission of requisite documents by the