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Sunbeam Lightweighting Solutions Pvt. Ltd. vs Deputy Commissioner of Income Tax (DCIT) – ITAT Case Law on Foreign Commission, TDS under Section 195 and Disallowance under Section 40(a)(i)
Facts of the
CaseThe assessee
Sunbeam Lightweighting Solutions Pvt. Ltd. (formerly Sunbeam Auto Pvt. Ltd.) is
engaged in the manufacturing of automotive die-cast components, I.C. engine
parts, and pistons for two-whe...
Richa & Co. vs Joint Commissioner of Income Tax (JCIT) – ITAT Case Law on Revision under Section 263 for Lack of Proper Enquiry
Facts of the
CaseThe assessee Richa
& Co. is a partnership firm engaged in manufacturing and export of
readymade garments. For the relevant assessment year, the assessee filed its
return declaring total income of...
Neeraj Garg vs Assistant Commissioner of Income Tax (ACIT) – ITAT Case Law on Reassessment under Section 147 and Validity of Assessment
Facts of the
CaseThe assessee
Neeraj Garg filed his return of income under the Income-tax Act, 1961 for the
relevant assessment year. Subsequently, the Assessing Officer (AO) initiated
reassessment proceedings under ...
ITAT Delhi: Stay of Tax Demand Extended When Delay in Appeal Disposal Not Attributable to Assessee – Oliver Wyman Ltd. v. DCIT (International Tax)
Facts of the
CaseThe assessee,
Oliver Wyman Ltd., is a foreign consulting and advisory services company
engaged in providing professional consulting services globally, including
services rendered in India.During the
...
Great Eastern Energy Corporation Ltd. vs ACIT – ITAT Case Law on Allowability of Business Expenditure and Assessment Additions under Income-tax Act
Facts of the
CaseGreat Eastern
Energy Corporation Ltd. is a company engaged in the exploration and production
of coal bed methane (CBM) gas in India. The company operates CBM blocks such as
Raniganj in West Bengal an...
Great Eastern Energy Corporation Ltd. vs ACIT – ITAT Case Law on Allowability of Business Expenditure and Assessment Additions under Income-tax Act
Facts of the
CaseGreat Eastern
Energy Corporation Ltd. is a company engaged in the exploration and production
of coal bed methane (CBM) gas in India. The company operates CBM blocks such as
Raniganj in West Bengal an...
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...