ITAT Delhi

  • Income Tax

Penalty u/s 271(1)(c) for mistake of not disclosing Long Term Capital Gain LTCG on the land part comprised in the block of Factory Building sold

In a recent judgment, ITAT Delhi has set aside penalty u/s 271(1)(c) and remanded the matter to CIT(A) for mistake of assessee…

8 years ago
  • Income Tax

Claim for sales return provision was in accordance with AS notified u/s 145 being best estimate of information available

In a recent judgment, ITAT Delhi has allowed claim for provision made for sales return holding that as per Accounting Standard…

8 years ago
  • Income Tax

UPS entitled to higher rate depreciation @ 60% being accessories and peripherals forming integral part of computer system

In a recent judgment, ITAT Delhi has allowed depreciation on UPS at the higher rate of 60% allowable at computers following…

8 years ago
  • Income Tax

Revision under section 263 is not to set aside merely unfavourable orders and bring to tax some more money to the treasury-ITAT

In a recent judgment, ITAT Delhi has interpreted the objective and scope of invoking revisionary powers of Commissioner of Income…

8 years ago
  • Income Tax

Reopening/Reassessment u/s 147/148 on retrospective amendment bad as there is no failure on the part of assessee to disclose fully/truly all material facts

In a recent judgment, ITAT Delhi has stated that a concluded assessment can not be reopening u/s 147/148 based on…

8 years ago
  • Income Tax

Writing “Yes, I am Satisfied” establishes non recording of proper satisfaction/approval

Writing “Yes, I am Satisfied” establishes non recording of proper satisfaction/approval before issue of notice u/s 148 No sooner than…

8 years ago
  • Income Tax

KPO Services provider could not be a comparable for benchmarking international transactions entered into by an entity rendering BPO services

In a recent judgment, ITAT Delhi has held that Knowledge Process Outsourcing Services (KPO Services) provider could not be be…

8 years ago
  • Income Tax

CIT Revision u/s 263- the word ‘erroneous’ includes the failure to make an inquiry when circumstances would make such it prudent

In a recent judgment, ITAT held that  the word ‘erroneous’ in section 263 includes the failure to make an inquiry when…

8 years ago
  • Income Tax

Post office not an agent of the assessee. Notice u/s 143(2) dispatched to post office on the last date of limitation period not service to the assessee.

In a latest judgment, ITAT Delhi has held that post office is not an agent of the assessee. Notice u/s 143(2)…

8 years ago
  • Income Tax

Delhi ITAT granted stay beyond 365 days holding that delay was not attributable to assessee and his conduct was bonafide and reasonable

In a recent judgment, ITAT Delhi following Pepsi Foods (P) Ltd case  has granted stay beyond 365 days in a re-fixed…

8 years ago