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The penalty under section 270A of the Income Tax Act, 1961, cannot be levied when the underlying addition is based on the estimation of income, the Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled. The income of the taxpayer Ram Lakhan for A.Y. 2017-18 has been estimated by the Assessing Officer […]
The Income Tax Appellate Tribunal (ITAT) in Delhi ruled that the assessment conducted by the Assessing Officer under Section 143(3) on December 27, 2019, following a notice issued under Section 143(2) on September 22, 2018, is invalid. The tribunal found that the notice was not in the format required by the Central Board of Direct […]
The Delhi Bench of the ITAT decided that a taxpayer could not claim a tax deduction for buying a house because the property was registered in their mother’s name An individual taxpayer, Ashok Kumar, has faced scrutiny for the AY 2015-16. An income tax return (ITR) has been furnished by the taxpayer specifying an income […]
The tax additions of ₹42.94 lakh each against the Gurgaon-based couple, Rachita Sahgal and Vivek Sahgal, have been rejected by the Income Tax Appellate Tribunal (ITAT), Delhi Bench, citing that the department wrongly invoked Section 153C of the Income Tax Act. According to the bench, the seized documents merely “pertained to” the taxpayers, rather than […]
An appeal was dismissed by the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) after the taxpayer had chosen to settle the pending dispute under the VSVS, 2024. While dismissing the appeal as withdrawn, the tribunal has provided the liberty to the taxpayer to take the restoration if the scheme application does not reach […]
The Income Tax Appellate Tribunal (ITAT), Delhi, dismissed the appeal of the revenue in the case of ACIT Vs Hella India Lighting Ltd., addressing 3 issues for the assessment year 2017-18. The revenue contested the deletion of an addition u/s 69C amounting to ₹6.80 crore, disallowance of expenses of ₹3.15 crore, and disallowance of a […]
The Income Tax Appellate Tribunal (ITAT), Delhi Bench set aside reassessment proceedings, citing inconsistencies between the grounds for reopening and the subsequent additions. Bhawani Castings P. Ltd., the appellant, submitted its income tax return for the Assessment Year (AY) 2018-19 on 28.09.2018, stating a loss of ₹12,52,594. The AO issued a notice following Section 148A(b) […]
ITAT Delhi In the matter of Cheil India Private Limited vs. DCIT, addressed the disallowance of a ₹2.57 crore deduction asserted u/s 80G of the Income Tax Act, 1961, for CSR expenditures. The deduction has been refused by the National Faceless Assessment Centre (NFAC) reasoning that CSR expenses as obligated u/s 135 of the Companies […]
The order has been quashed by the Delhi bench of the Income Tax Appellate Tribunal (ITAT) via the Deputy Commissioner of Income Tax (DCIT) for the assessment year (AY) 2021-22, where the assessing officer (AO) had applied Section 143(3) of the Income Tax Act, 1961, rather than the appropriate Section 153C of the Income Tax […]
