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Shri R.K. Panda

Re-Assessment solely based on Information from Investigation Wing is Invalid without Independent Inquiry by AO: ITAT [Read Order]

The Delhi bench of the ITAT comprising Shri R. K. Panda, Accountant Member and Shri N. K. Choudhry, Judicial Member has held that the re-assessment...

Revisional Authority shall conduct Inquiry If Reason for Invoking S. 263 was that AO did not...

Partnership Firm not liable to Explain Source of Capital Introduced by Partners: ITAT [Read Order]

No Disallowance merely when Assessee has not earned any Business Income but Office, Infrastructure...

non-fulfillment of obligations - sale deed - ITAT - Taxscan

Addition can't be made on Amount not yet received by Assessee for Non-fulfillment of obligations set...

Relief to Daawat Foods: ITAT allows Depreciation on Capital Expenditure [Read Order]

In a major relief to Daawat Foods, the Income Tax Appellate Tribunal (ITAT), Delhi Bench allowed the depreciation on capital expenditure. The assessee, Daawat Foods Ltd. filed the appeal relating...

Interest leviable on Default in Payment of Advance Tax installment on Returned Income, not on Assessed Income: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the interest payable under Section 234C is applicable on default in payment of advance tax installment on returned income, and not on...

ITAT upholds Addition as Assessee failed to utilized amount in Capital Gain Account within Statutory Period

The Income Tax Appellate Tribunal (ITAT), Delhi Bench upheld the addition as the assessee failed to utilize the amount in the capital gain account within the statutory period. The assessee, Avtar...

Honda R&D (India) wasn’t involved in R&D activity and rather was providing market support services to its AE: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench held that the assessee, Honda was not involved in Research and Development (R&D) activity and rather was providing market support...

ITAT quashes ex parte order against Fox Mandal [Read Order]

The Income Tax Appellate Authority (ITAT), Delhi Bench quashed the ex parte order against assessee, Fox Mandal and restored the matter back to CIT(A). The assessee, Fox Mandal is a Law Firm and...

No Tax applicable on Securities Premium even if used to set off losses: ITAT deletes addition against Hindustan Coca Cola [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench while deleting the addition against Hindustan Coca Cola Beverages held that no tax is applicable on securities premium even if used to set...

Mitsui India isn’t a DAPE under India-Japan Tax Treaty: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench held that Mitsui India is not a Dependent Agent PE In India (DAPE) under India-Japan Tax Treaty. The assessee, M/s. Mitsui & Co. Ltd....

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