The New Delhi bench of ITAT quashed the appeal by Deputy Commissioner of Income Tax (DCIT), (the appellant) for levying Income tax from Aruna Chandhok, (the respondent) for the bonus shares she received, as per

The Income Tax Appellate Tribunal (ITAT) Delhi Bench deleted the addition made by the assessing officer on jewelry gifted on occasion of marriage before the search action. A search action was conducted on the residence

The Income Tax Appellate Tribunal (ITAT), Delhi bench, has annulled the disallowance of a long-term capital loss arising from the sale of shares of a private company to its initial promoters. In this case, the

The Supreme Court has taken significant action to rectify an issue concerning the delay in appeals that were previously dismissed by the Income Tax Appellate Tribunal (ITAT) and the Delhi High Court. The ITAT had

The Delhi bench Income Tax Appellate Tribunal ( ITAT ) quashed reassessment proceedings initiated on the basis of investigation report of Kolkata Wing without making enquiry of investment in stock exchange transactions. The Assessee, Naz

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty under Section 271D of the Income Tax Act, 1961, as treating personal expenses as income precludes loan classification, and income

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the Assessing Officer had rightly invoked Section 154 of the Income Tax Act to disallow deduction since HUF cannot be treated as

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that Adoption of value by AO on the date of transfer being hypothetical makes the addition non tenable under section 48 of the Income

The Delhi bench Income Tax Appellate Tribunal ( ITAT ) deleted the addition made on the accrual basis with respect to the interest income earned from the arbitration award. The Assessee MMTC Ltd is the

The Delhi bench of Income Tax Appellate Tribunal (ITAT) observed that the purpose of granting subsidy under TUFS (Technology Up-gradation Fund Scheme) by the Ministry of Textiles, Government of India was for overall growth and

The Income Tax Appellate Tribunal (ITAT), Delhi Bench presided by Mr. N.K. Billaiya, Accountant Member, and Mr. N.K. Choudhry, Judicial Member has deleted the penalty imposed under section 271(1)(c) since the notice under section 274

The Delhi Bench of Income Tax Appellate Tribunal (ITAT), held that no income tax addition can be made under section 68 of Income Tax Act if Assessing Officer (AO) excluded leased land while assessing the

The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the raising of the objection against the income tax proceedings, being a valuable legal right of the assessee, cannot be denied by the department.

The Delhi Bench of Income Tax Appellate Tribunal ( ITAT ) has held that leasehold right in land or building or both is transferred, and provisions of Section 50C cannot be invoked. The appellant, Bharat

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) comprising N K Billaiya (Accountant Member) and Astha Chandra (Judicial Member), upholding an order of the CIT(A), held in favor of the Assessee that, the