The Delhi Bench Income Tax Appellate Tribunal has confirmed the disallowance of long term capital gains (LTCG) u/s 68 of the Act since shares invested in paper companies. The assessee, Sanjeev Kumar Agarwal (HUF) has

The Delhi High Court has recently set aside a notice issued to the assessee, M/s Rajat Finvest, in lieu of alleged unaccounted income in its books in the guise of bogus Long Term Capital Gains

The Delhi Bench of Income Tax Appellate Tribunal has held that fulfillment of twin conditions is mandatory for invoking the jurisdiction u/s 263. The assesse, Gurbakshish Singh Batra is an individual and filed his return

The Income Tax Appellate Tribunal Delhi consists of Challa Nagendra Prasad, Judicial Member held that the reassessment proceedings conducted by an Assessing Officer having no jurisdiction, are unjust and hence liable to be quashed. This

The Delhi bench of the Income Tax Appellate Tribunal, in a major relief to Benetton India, held that the loss incurred on forfeiture of security deposits given for lease of rental premises can be claimed

The Delhi bench of the Income Tax Appellate Tribunal has held that the subscriber fee would not be taxable as “royalty” as per the India-Singapore Double Taxation Avoidance Agreement (DTAA) or under section 9(1)(vi) of

 The Income Tax Appellate Tribunal, Delhi Bench “D”,  reverses application of Disallowance under Sec.40A(3) of Income Tax Act as the genuineness of the transaction was not doubted by the Assessing Officer.  The Appeal was filed

The Mumbai Bench of the Income Tax Appellate Tribunal allowed deduction under Section 80 of the Income Tax Act, 1961 on interest income and miscellaneous income, thereby granting relief to M/s. Vodafone India Ltd. The

The Delhi bench of Income Tax Appellate Tribunal has deleted addition based on statement of witnesssince revenue fails to provide cross-examination of material witness. The appellant, Garg Acrylics Ltd.,is engaged in the business of manufacturing

In a significant ruling, the Income Tax Appellate Tribunal, Mumbai held that the expenditure incurred on Indian Premier League (IPL) should be allowed as “revenue expenditure” under the provisions of the Income Tax Act. Assessee

The Income Tax Appellate Tribunal, Delhi bench has held that the proceedings against the amalgamated company after amalgamation cannot be sustainable under the Law and thereby quashed the income tax proceedings against Honda Cars India

The Mumbai bench of the Income Tax Appellate Tribunal recently ruled that the amount collected and paid to the government cannot be included to the total income of the assesse for the purpose of computing

In a recent decision, the Pune bench of the Income Tax Appellate Tribunal held that the compensation paid to the buyer for delayed possession of flat is business expense and therefore, it is deductible from

The Kolkata bench of Income Tax Appellate Tribunal comprising N.K. Saini, (Accountant Member) and Amit Shukla, (Judicial Member) said that penalty cannot be levied when the addition on account of deeming fiction is based on

The Ahmedabad bench of the Income Tax Appellate Tribunal, in recent ruling opined that the assessee is free to choose the concerns to which it wants to extend the credit facility. The Assessing Officer cannot