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ITAT Delhi: Share Certificates Found During Search Cannot Be Treated as Incriminating Material for Section 153C – Revenue Appeal Dismissed | DCIT vs Pioneer Finest Ltd.
Facts of the
CaseThe Revenue filed appeals before the Income Tax
Appellate Tribunal (ITAT), Delhi Bench, challenging the orders of the
Commissioner of Income Tax (Appeals) [CIT(A)] dated 12.05.2023 and 15.05.2023
for...
ITAT Delhi: Share Certificates Found During Search Not ‘Incriminating Material’ – Additions Beyond Scope of Section 153C Quashed | DCIT vs Pioneer Finest Ltd.
Facts of the CaseThe Revenue filed appeals before the Income Tax
Appellate Tribunal against the orders of the CIT(A) dated 12.05.2023 and
15.05.2023 for Assessment Years 2014-15, 2015-16 and 2017-18. The CIT(A) had
al...
ITAT Delhi: Addition for Alleged Bogus Agricultural Sales Deleted – Agricultural Income from Banana Cultivation Held Exempt u/s 10(1) | DCIT vs Melody Agri Farms
Facts of the CaseThe assessee, Melody Agri Farms, was engaged in agricultural activities
including cultivation of banana,
potato, sugarcane, wheat, and vegetables. The assessee declared
agricultural income earned from...
ITAT Delhi: Addition Based on Seized Loose Papers Upheld Due to Presumption under Section 292C; However, Section 153C Assessment Quashed in Absence of Incriminating Material – Binary Network Solutions Pvt. Ltd. vs ACIT
Facts of the CaseBinary Network Solutions Pvt. Ltd. filed appeals
before the Income Tax Appellate Tribunal (ITAT), Delhi Bench, challenging
orders passed by the Commissioner of Income Tax (Appeals) for Assessment Years...
ITAT Delhi: Addition Based on Seized Loose Papers Upheld Due to Presumption under Section 292C, but Section 153C Assessment Quashed for Lack of Incriminating Material – Binary Network Solutions Pvt. Ltd.
Facts of the CaseA survey
under Section 133A of the Income Tax Act, 1961 was conducted on the
assessee company along with other group entities. During the survey
proceedings, loose papers and digital
data were impoun...
ITAT Delhi: Penalty u/s 271(1)(c) Invalid Where Show Cause Notice Does Not Specify Whether for Concealment of Income or Furnishing Inaccurate Particulars – DCIT vs Ambience Hotels & Resorts Pvt. Ltd.
Facts of the
CaseThe Revenue filed three appeals before the Income
Tax Appellate Tribunal against the common order passed by the Commissioner of
Income Tax (Appeals)-27, New Delhi dated 31.05.2023.The appeals related ...
ITAT Delhi: Agricultural Income from Banana Farming Cannot Be Treated as Bogus Without Proper Enquiry – Addition u/s 68 Deleted | DCIT vs Melody Agri Farms
Facts of the CaseThe case arose from a search action conducted on 27.05.2018 in the Anuj Poddar group of cases.
During the course of assessment proceedings, the assessee Melody Agri Farms claimed agricultural
income de...
Penalty u/s 271(1)(c) Invalid if Show Cause Notice Does Not Specify Charge of Concealment or Inaccurate Particulars – DCIT vs Ambience Hotels & Resorts Pvt. Ltd. (ITAT Delhi)
Facts of the CaseThe Revenue filed three appeals before the Income
Tax Appellate Tribunal against the order passed by the Commissioner of Income
Tax (Appeals) [CIT(A)] dated 31.05.2023 concerning Assessment Years 2013-...
ITAT Delhi: Addition u/s 69B Based on Illegible Digital Evidence Deleted for Non-Compliance with Section 65B of Indian Evidence Act – Ritu Tuli vs DCIT
Facts of the
CaseThe assessee, Ms. Ritu Tuli, filed her return of income for AY 2017-18 declaring a taxable income
of ₹3,00,000. During the relevant year, she jointly purchased a residential
property situated at Sus...
ITAT Delhi: Addition under Sections 153A & 69A Quashed Where No Incriminating Material Found During Search – Poonam Tyagi vs DCIT
Facts of the
CaseThe assessee, Poonam Tyagi, filed her return of income declaring income of
₹22,57,860 for Assessment Year 2016-17. Subsequently, a search operation under Section 132 of the Income-tax Act, 1961 was
...