ITAT Delhi Judgments, Orders & News | Income Tax Appellate Tribunal

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ITAT Delhi

Explore the latest ITAT Delhi judgments, orders, and appellate decisions on direct tax matters from the Delhi bench of the Income Tax Appellate Tribunal

Unverified and Excessive Operating Expenses not Allowable u/s 37 of Income Tax Act: ITAT Reduces Disallowance from 10% to 2% [Read Order]

Gayathri C.H

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, reduced the disallowance from 10% to 2%, on...

Dept. Fails to Submit Contradictory view to CIT(A)'s Decision: ITAT allows Depreciation Expenses on...

Addition of loan Amount as Outstanding Balance without Proper Evidence and Documents: ITAT directs...

Income Arising from Sold Land Established as Agricultural Land cannot be Treated as Capital Asset:...

Delayed Deposit of Employees Contribution to PF and ESI cannot be Claimed Even when Deposited Within...

Deduction u/s 35(2AB) of Income Tax Act cannot be Denied Ignoring Form 3CL: ITAT [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that deduction under Section 35(2AB) of the Income Tax Act could not be denied by ignoring Form 3CL. The assessee Indian Toners and...

ITAT Quashes Reassessment Proceedings Initiated Solely Based on Vague Information from Investigation Wing [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has quashed the reassessment proceedings initiated solely based on the vague information received from the investigation wing. The assesse,...

ITAT deletes Penalty u/s 271(1)(c) for Unfair Representation During Liquidation Process [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) recently deleted the penalty under Section 271(1)(c) of the Income Tax Act, considering the unfair representation of the assessee during...

Lessor entitled to Claim Depreciation on Leased Assets under Finance Lease: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that the lessor should be entitled to claim depreciation on leased assets under finance lease. T Kipgen, counsel appeared...

Deduction u/s 80IC of IT Act shall not be denied if Assessee forms New Firm in same Name at same Premises: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has recently held that deduction under Section 80IC of Income Tax Act 1961 should not be denied if assessee form a new firm in the same...

Lack of Jurisdiction u/s 153C owing to Absence of Incriminating Materials: ITAT dismisses Revenue's Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, has recently, in an appeal filed before it, dismissed the revenue’s appeal, on finding that there is lack of jurisdiction under Section 153C of...

AO cannot change DCF Method for Determining FMV of Unquoted Shares under Rule 11UA of IT Rules: ITAT [Read Order]

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the DCF method for determining FMV of unquoted shares could not be changed by the assessing officer under Rule...

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