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Provision for Warranty Allowable Under Section 37 When Based on Scientific Method and Past Experience: ITAT Delhi in Marelli UM Electronic Systems Pvt. Ltd. v. DCIT
The present appeal was filed by Marelli UM Electronic
Systems Private Limited agai nst the assessment order dated 28.10.2024
passed under Section 143(3) of the Income-tax Act, 1961, pursuant to the
directions issued b...
Penalty under Section 271(1)(c) Cannot Survive When Quantum Appeal Is Pending: ITAT Delhi in Neetu Gupta vs Income Tax Officer (AY 2011-12)
The
present appeal arose from an order dated 02 June 2025 passed under Section 250
of the Income Tax Act, 1961 by the Commissioner of Income Tax (Appeals), NFAC,
Delhi, whereby a penalty of ₹1,75,615 was confirmed u...
Revision under Section 263 Not Sustainable Where AO Takes a Plausible View on Bogus Purchases: ITAT Delhi in Axis Infoline Pvt. Ltd. v. PCIT-1
The present appeal before the Income Tax Appellate
Tribunal, Delhi Bench “B”, arose from a revisionary order passed by the
Principal Commissioner of Income Tax under Section 263 of the Income Tax Act,
1961, for As...
Ex-Parte Assessment under Section 144 Set Aside for Violation of Natural Justice: ITAT Lucknow Restores Matter to Assessing Officer in Demonetisation Cash Deposit Case (AY 2017-18)
The
appeal before the Income Tax Appellate Tribunal, Lucknow Bench, pertained to
Assessment Year 2017-18 and arose from an ex-parte assessment framed under
Section 144 of the Income Tax Act, 1961. The assessee had not...
TDS Credit Cannot Be Denied Without Proper Verification in Joint Property Transactions – ITAT Lucknow Restores Matter for Fresh Adjudication | Krishna Prakash Goel vs ITO (AY 2023-24)
The
assessee, Krishna Prakash Goel, filed his return of income for
Assessment Year 2023-24 declaring total income of ₹2,27,620. The return was
processed under section 143(1) of the Income-tax Act, 1961 by the Centra...
Ex-Parte Dismissal by NFAC Held Unsustainable: ITAT Restores Cash Deposit Addition Case under Sections 69A, 144 & 115BBE – Nitin Dwivedi vs ITO (AY 2017-18)
The
present appeal was filed by the assessee against the order dated 28 June 2024
passed by the National Faceless Appeal Centre (NFAC) for Assessment Year
2017-18. The assessee, a civil contractor by profession, had o...
Deduction under Section 80P on Interest from Statutory Bank Deposits Allowed to Co-operative Sugar Cane Society – ITAT Lucknow in District Co-operative Sugar Cane Supply Ltd. vs. ITO (AY 2020-21)
The
assessee, a co-operative sugar cane supply society, was engaged in supplying
sugar cane to sugar mills and providing credit and agricultural inputs to its
members. For Assessment Year 2020-21, it declared nil inco...
Assessment Order Quashed for Unauthorized Conversion of Limited Scrutiny into Complete Scrutiny – ITAT Lucknow in K.M. Gases Pvt. Ltd. vs DCIT (AY 2015-16)
The
present appeal was filed by the assesse against the order dated 13.09.2022
passed by the National Faceless Appeal Centre (NFAC), Delhi, for Assessment
Year 2015-16. The assesse had originally filed its return of i...
Cash Capital Contribution from Close Relatives – ITAT Lucknow Remands ₹13.50 Lakh Addition u/s 68 r.w.s. 115BBE | Nasim Ahmad Khan Case vs ACIT
The present appeal was filed by the assessee, Nasim
Ahmad Khan, against the order dated 11.06.2024 passed by the Commissioner
of Income Tax (Appeals) / National Faceless Appeal Centre (NFAC), Delhi, for
the Assessment...
Demonetisation Cash Sales in Jewellery Business – ITAT Lucknow Restores ₹2.75 Crore Addition u/s 68 for Fresh Verification | ACIT vs Mallics Jewels (ITA 312/LKW/2023)
The
present appeal was filed by the Revenue against the appellate order dated
03.08.2023 passed by the National Faceless Appeal Centre for the Assessment
Year 2017-18. The appeal arises out of an assessment framed und...