Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Ex-Parte Assessment and Appeal Set Aside with Costs; Matter Remanded for Fresh Adjudication: ITAT Mumbai in Sunni Hanfi Mashayaki Momin Trust v. ITO
The appeals filed by Sunni Hanfi Mashayaki Momin
Trust pertained to Assessment Years 2014-15 and 2017-18 and were directed
against the orders passed by the National Faceless Appeal Centre under section
250 of the Inco...
ITAT Mumbai Allows Withdrawal of Appeal Under Direct Tax Vivad Se Vishwas Scheme, 2024 – Solenis Chemicals India Pvt. Ltd. vs ACIT
The appeal filed by Solenis Chemicals India
Private Limited before the Income Tax Appellate Tribunal, Mumbai Bench,
arose from an assessment order passed under section 143(3) read with sections
144C(13) and 144B of th...
ITAT Mumbai Remands Property Investment Addition for Fresh Assessment – Seema Pappu Yadav vs ITO
The appeal filed by the assessee, Seema Pappu
Yadav, was directed against the order passed by the National Faceless
Appeal Centre under section 250 of the Income-tax Act, 1961, which had arisen
from a reassessment ord...
Stamp Duty Value on Date of Allotment to Be Adopted Under Section 56(2) – ITAT Mumbai in Sarayu Krishna Kamat vs DCIT
The appeal filed by the assessee was directed
against the order passed by the National Faceless Appeal Centre for Assessment
Year 2018-19, arising from an assessment framed under section 143(3) read with
sections 143(...
Reassessment Notice Issued Beyond Limitation Held Void: ITAT Delhi Applies Supreme Court Ruling in Union of India v. Rajeev Bansal
In
The Hisar Leading Bank Co-Op Non-Agri Thrift & Credit Society, Hisar v.
Income Tax Officer, Ward-1, Hisar, the Delhi Bench of the Income Tax
Appellate Tribunal examined the legality of reassessment proceedings ...
Revision under Section 263 Invalid Where Issue Falls Outside Limited Scrutiny Scope: ITAT Delhi in Harun Ali v. Pr. CIT
In
Harun Ali v. Principal Commissioner of Income Tax, Dehradun, the Delhi
Bench of the Income Tax Appellate Tribunal examined the validity of revisionary
proceedings initiated under Section 263 of the Income-tax Act, ...
Share Capital and Premium Addition under Section 68 Restored for Fresh Verification of Source of Source: ITAT Delhi in Baba Healthcare Pvt. Ltd. v. ACIT
In
Baba Healthcare Private Limited v. Assistant Commissioner of Income Tax,
Circle-1, Faridabad, the Delhi Bench of the Income Tax Appellate Tribunal
examined the validity of an addition of ₹61 lakh made under Secti...
Cash Sales During Demonetisation Taxable Only on Estimated GP Basis; Section 115BBE Inapplicable: ITAT Delhi in DCIT v. JMK Jewels Pvt. Ltd.
In
Deputy Commissioner of Income Tax v. JMK Jewels Private Limited, the
Delhi Bench of the Income Tax Appellate Tribunal adjudicated cross-appeals
arising from additions made on account of cash deposits during the
de...
Reassessment Quashed for Borrowed Satisfaction and Estimated Additions Deleted: ITAT Delhi in JHS Svendgaard Laboratories Ltd. v. DCIT
In
JHS Svendgaard Laboratories Ltd. v. Deputy Commissioner of Income Tax,
Central Circle-31, New Delhi, the Delhi Bench of the Income Tax Appellate
Tribunal examined the validity of reassessment proceedings initiated ...
Depreciation on BOT Highway Project Allowable Despite Non-Ownership: ITAT Delhi in JCIT v. Gwalior Bypass Project Ltd.
In
JCIT (OSD), Range-10, New Delhi v. Gwalior Bypass Project Ltd., the
Delhi Bench of the Income Tax Appellate Tribunal considered whether
depreciation under Section 32 of the Income-tax Act, 1961 could be allowed on
...