Tag: ITAT Delhi
In a recent judgment, ITAT Delhi has held that land possession given and major sales consideration received through unregistered agreement to sell amounts to transfer u/s 2(47) of the Income Tax Act, 1961, though it was claimed that possession was taken back for non receipt of balance sales consideration. …
The deduction claimed for a pay/wage revision is an ascertained liability and cannot be termed as contingent because the wage and probable revision or rates of revision would be within the fair estimation of the employer. Case Law Details: INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘B’ NEW DELHI I.T.A …
Issuance of notice under Rule 19 of the ITAT Rules, 1961, itself does not make the appeal admissible. Non-attendance makes the appeal defective. Case Details: INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “H” NEW DELHI ITA no. 1231/Del/2014 A.Y. 2008-09 Winspir Communication vs. ACIT Date of Order/Judgment: 15/03/2016 Held: Rule …
In case there is no change in the facts, situation or in law, the Revenue cannot be allowed to adopt a different stand. Rental income is treated as income from house property and not income from profession or profession. Case Details: INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” Asstt. …
Unexplained expendiure addition u/s 69C made for peak negative cash balance without giving benefit of capitalisation of sums disclosed in earlier assessment years deleted INCOME TAX APPELLATE TRIBUNAL, DELHI BENCHES, NEW DELHI (CIRCUIT BENCH AT MEERUT) ITA No. 6787/DEL/2011 (Asstt. Year: 2011-12) Rajeev Rastogi vs. ACIT Date of …
Deduction u/s 80IC available for manufacturing of PET bottles, Caps, jars etc. which are not plastic articles and do not fall in the negative list items mentioned in the 13th schedule. INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘E’: NEW DELHI ITA No. 1309Del/2013 Assessment Year: 2009-10 ITO vs. M/s …
Payments to Singer Performer in Hotel liable for TDS u/s 194C as contractual not professional u/s 194J In a recent judgment, ITAT, New Delhi has ruled that payment made to a singer group for performing in the restaurant of a hotel can not be characterised as professional payments …
Interest on Fixed Deposit given as Bank Guarantee pre-requisite condition to pollution Board is capital receipt as business activities not commenced INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: ‘‘A’ SMC, NEW DELHI I.T.A .No.-6257/DEL/2015 (ASSESSMENT YEAR-2012-13) NV International Pvt. Ltd. (APPELLANT) vs. ITO (RESPONDENT) Date of Order: 08-03-2016 ORDER PER SUCHITRA …
Addition cannot be made on the basis of the statement recorded during survey under section 133A INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “C”, NEW DELHI I.T.A. No. 6509/DEL/2014 A.Y. 2010-11 M/S IIBS INFONET (P) LTD (APPELLANT) vs. ACIT (RESPONDENT) Date of Order: 08/03/2016 ORDER PER H.S. SIDHU : JM This appeal by …
TDS default Proceedings u/s 201/201A can not be initiated unless it is found that deductee has also failed to pay tax directly INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘A’ : NEW DELHI) ITA Nos.5992, 5993 & 5994/Del./2012 (ASSESSMENT YEARS : 2002-03, 2003-04 & 2004-05) The Branch Manager, vs. …
