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ITAT Delhi: Deduction u/s 80IBA Cannot Be Disallowed in Intimation u/s 143(1) for AY 2019-20 – Amendment by Finance Act 2021 Not Retrospective | Amolik Housing Pvt. Ltd. vs CPC Bengaluru
Facts of the CaseThe assessee, Amolik Housing Pvt. Ltd., filed its return of income for Assessment Year 2019-20 claiming
deduction under Section 80IBA of the
Income-tax Act, 1961 amounting to ₹6,88,70,539.While proce...
Interest Expenditure Disallowance u/s 57(iii) – Matter Remanded to AO for Proving Nexus Between Borrowed Funds and Interest Income | Sukhjot Singh Sodhi vs ACIT (ITAT Delhi)
Facts of the CaseThe assessee filed the return of income for AY
2016–17. During assessment proceedings under section 143(3) of the Income Tax Act, the Assessing Officer
disallowed interest expenditure of
₹61,97,07...
ITAT Delhi: Appeal Dismissed as Withdrawn After Assessee Filed Settlement Application under Direct Tax Vivad Se Vishwas Scheme – AY 2012-13 | Ankita Aggarwal vs ITO
Facts of the CaseThe present appeal was filed by the assessee, Mrs. Ankita Aggarwal, before the
Income Tax Appellate Tribunal, Delhi Bench, against the order dated 30.01.2019 passed by the Commissioner of Income Tax (Ap...
ITAT Delhi: Addition u/s 69A for Cash and Jewellery Not Sustainable Where Income Already Offered Before Settlement Commission – ACIT vs Vijay Kumar Sachdeva
Facts of the
CaseA search under Section 132 of the Income-tax Act, 1961 was conducted on 21.08.2017 in the case of the Laxmi Remote Group, including the
assessee Shri Vijay Kumar Sachdeva,
who was a director in M/s La...
ITAT Delhi: No Addition u/s 68 & 69C in Search Assessment Without Incriminating Material – DCIT vs Kamal Kishore Chaurasia (AY 2014-15) | Section 153A Case Law
Facts of the CaseThe assessee, Kamal Kishore Chaurasia, filed his return of income on 28.11.2014 declaring total income of Rs. 2,32,80,220 for Assessment Year 2014-15.The original assessment was completed on 27.10.2016.A...
Addition under Section 153A Invalid Without Incriminating Material & Jewellery Addition under Section 69A Deleted – ITAT Delhi in Poonam Tyagi vs DCIT
Facts of the CaseThe assessee filed the original return declaring
income of ₹22,57,860 for AY 2016-17. A search
and seizure operation under Section 132 was conducted on 03.11.2016 at
the premises of VVIP Group and r...
ITAT Delhi: Appeal Becomes Infructuous Due to CIRP Moratorium Under IBC – Section 263 Revision Proceedings Impacted | Jaiprakash Associates Ltd. vs. PCIT (AY 2016-17)
Facts of the CaseThe assessee, Jaiprakash Associates Ltd., filed its
return of income declaring nil income
on 30.11.2016 and reported a book loss
under Section 115JB. The case was selected for scrutiny and the assessm...
Discovery Networks Asia Pacific Pte Ltd vs ACIT – ITAT Delhi: Taxation of Advertisement & Distribution Revenue under India–Singapore DTAA; MAP Resolution Applied for PE Profit Attribution (Sections 9(1)(vi), 143(3), 144C, 271(1)(c))
Facts of the
CaseDiscovery Networks Asia Pacific Pte Ltd (DNAP), a
tax resident of Singapore under Article 4 of the India–Singapore Double
Taxation Avoidance Agreement (DTAA), is engaged in broadcasting television
...
ITAT Delhi: Additional Claim Can Be Raised Before Tribunal Even If Not Claimed in Return – Max Life Insurance Co. Ltd vs DCIT | Section 254, Section 10(15)(iv)(h), Section 44
Facts of the
CaseThe assessee, M/s Max Life Insurance Co. Ltd, is engaged in the business of life
insurance. For the relevant assessment years 2015-16 and 2016-17, the assessee filed its return of income
declaring tax...
ITAT Delhi: Exemption u/s 10(15)(iv)(h) Can Be Raised as Additional Ground Before ITAT Even If Not Claimed Earlier – Max Life Insurance Co. Ltd vs DCIT (ITA Nos. 2574/DEL/2019, 9425/DEL/2019, 9475/DEL/2019)
Facts of the CaseThe assessee, M/s Max Life Insurance Co. Ltd, is engaged in the business of
providing life insurance services.For AY
2016-17, the assessee filed its return of income declaring income of Rs. 371,68,91,1...