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Section 68 Cannot Be Invoked in Firm’s Hands for Capital and Loan Introduced by Identified Partners and Relatives: ITAT Delhi in ACIT vs Gurkirat BPO Services LLP (AY 2017-18)
The
Revenue filed an appeal against the order of the Commissioner of Income Tax
(Appeals), NFAC, Delhi, whereby additions made under Section 68 of the Income
Tax Act, 1961, aggregating to ₹13.16 crore, were deleted....
Religious Trust Entitled to Section 11 Exemption: Donations Cannot Be Treated as Advertisement Income – ITAT Delhi
The assessee, Shri Krishna Janmashtmi Mahotsav Samiti,
is a public charitable trust duly registered under Section 12A and also
approved under Section 80G of the Income-tax Act, 1961. The trust is
primarily engaged in ...
Assessment Order Passed Without Considering Assessee’s Reply Violates Principles of Natural Justice: ITAT Delhi Restores Matter for De Novo Assessment | Royalux Lighting LLP v. Assessment Unit (AY 2022-23)
The appeal was preferred by the assessee against the order
passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal
Centre (NFAC), Delhi, for the Assessment Year 2022-23. The assessee had
originall...
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...