14 September 2020


Search Results for Tag : ITAT Delhi

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ITAT, Delhi: Commissioner Sanction Not Required for Contribution towards EPF Under EPF Act(31.05.2017)

ITAT Delhi has held that approval by Commissioner of Income Tax is not a mandatory requirement to allow deduction of contribution towards EPF under se.....

Tags : ITAT Delhi, Income Tax Act, Employees provident Fund Act

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ITAT Delhi: Employees of University Entitled to Full Exemption of Arrears of Gratuity(06.06.2017)

ITAT Delhi has held that an employee of a ‘University’ is entitled to full exemption of arrears of Gratuity and leave encashment u/s 10(10) of Income .....

Tags : ITAT Delhi, Gratuity, leave encashment

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ITAT Delhi: ‘Personal Use’ has Important Role in Granting Depreciation on any Vehicle(04.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has held that the element of personal use has a significant role to play while granting depreciation on any.....

Tags : ITAT Delhi, Personal Use

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ITAT Delhi: Cost of Investment in Land is part of Cost of Construction of Residential House(07.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has noted that the cost of investment in land is also part of the cost of construction of the residential h.....

Tags : ITAT Delhi, Investment

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ITAT Delhi: Remuneration to Director in Proportion to Experience Having No Impact is Not ‘Dividend’(12.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has noted that the remuneration paid to Director of company, who is an experienced Chartered Accountant in .....

Tags : ITAT Delhi, Dividend

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ITAT Delhi: Rent from Fit-Out Hire Charges Will Fall Under Business Income(13.06.2019)

Income Tax Appellate Tribunal (ITAT), Delhi has noted that the income received from Fit-out Hire Charges would constitute “business income” under the .....

Tags : ITAT Delhi, Business Income

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ITAT Delhi: Availability of Capital Gain Exemption to More Than One House if HUF Property Sold(18.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has noted that the capital gain exemption under Section 54 of the Income Tax Act, 1961 should be given to m.....

Tags : ITAT Delhi, Capital Gain Exemption

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ITAT Delhi: Re-Assessment Without Consent of Designated Authority is Without Jurisdiction(19.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has observed that an assessment cannot be re-opened without the approval of the designated authority under .....

Tags : ITAT Delhi, Re-assessment

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ITAT Delhi Grants Long-Term Capital Gains Tax on Prannoy and Radhika Roy(20.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has upheld addition of Long Term Capital Gains Tax against the Roys for realising share sale consideration .....

Tags : ITAT Delhi, Prannoy

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ITAT Delhi: Land Cannot be Treated as Stock in Trade in Case of Nil Construction(27.06.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has observed that if no business activity or construction is carried out on a piece of land, it can still b.....

Tags : ITAT Delhi, Stock in Trade

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ITAT Delhi Allows Addition Since Share Transactions are Sham Transactions to evade Tax(27.06.2019)

Income Tax Appellate Tribunal (ITAT) has allowed an addition by finding that the share transaction leading to long term capital gain were actually sha.....

Tags : ITAT Delhi, Sham Transactions

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ITAT Delhi: Tax Exemption Cannot be Denied Merely Because One Donation in One Year is Doubtful(01.07.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has ruled that the income tax exemption cannot be denied to a Trust merely because one donation in one yea.....

Tags : ITAT Delhi, Tax Exemption

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ITAT Delhi: Order Procurement Services Rendered Abroad Not Taxable in India(03.07.2019)

Income Tax Appellate Tribunal (ITAT), Delhi has held that the order procurement services rendered abroad are not taxable in India.The Tribunal noted t.....

Tags : ITAT Delhi, Procurement Services

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ITAT Delhi: Disallowance of Expenditure is not Concealment of Income(30.07.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has ruled that mere disallowance of expenditure claimed in the return would not amount to ‘concealment of i.....

Tags : ITAT Delhi, Disallowance

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ITAT Delhi: Rent Received by Trust from Shops Purchased Out of Excess Fund is Taxable(09.08.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has ruled that the rental income received by a Trust from the properties purchased out of the surplus fund .....

Tags : ITAT Delhi, Rent

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ITAT Delhi: Money Spent on Scholarships for Students is Revenue Expenditure(14.08.2019)

Income Tax Appellate Tribunal (ITAT) Delhi has ruled that the sum of money paid by Senior Advocate Harish Salve towards scholarships of students at Ox.....

Tags : ITAT Delhi, Revenue Expenditure

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ITAT Delhi Orders Withdrawal of Tax Exemption to Congress-Controlled Young Indian(18.11.2019)

Income Tax Appellate Tribunal, Delhi has ruled that the withdrawal of income tax exemption to Young Indian, an entity controlled by Congress president.....

Tags : ITAT Delhi, Young India

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ITAT Delhi: Excessive Application of Net Profit Rate is Not Admissible(04.12.2019)

Income Tax Appellate Tribunal, Delhi has ruled that in earlier assessment years as well as in subsequent assessment years, a particular net profit rat.....

Tags : ITAT Delhi, Net Profit Rate

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ITAT Delhi: Section 36(1)(vii) Applicable in Inability or Insolvency Cases(05.12.2019)

Income Tax Appellate Tribunal, Delhi has held that an Assessee is entitled to claim under Section 36(1)(vii) of the Income Tax Act where the money is.....

Tags : ITAT Delhi, Insolvency

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ITAT Delhi: Loss Arising from Forfeiture of Advance Paid on Convertible Warrants is Business Loss(06.01.2020)

Income Tax Appellate Tribunal, Delhi has held the loss arising from forfeiture of the advance paid on convertible warrants is a business loss. The Tri.....

Tags : ITAT Delhi, Loss

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