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Introduction- Explore the recent ITAT Delhi verdict in the matter involving Smt. Sharda Devi Bajaj versus DCIT, wherein the assessment order underwent scrutiny due to the absence of the Document Identification Number (DIN/DN). The piece unravels the complexities of the case, emphasizing the significance of adhering to CBDT Circular No. 19/2019 issued on 14.08.2019 and […]
The Income Tax Appellate Tribunal (ITAT) in Delhi has ruled that the consideration received by a German entity for offshore supplies should not be subject to additional taxation. The bench, consisting of Challa Nagendra Prasad (Judicial Member) and M. Balaganesh (Accountant Member), stated that offshore services, particularly those involving the supply of drawings and designs, […]
The Income Tax Appellate Tribunal’s Delhi Bench ruled that the National Highways & Infrastructure Development Corp. India (NHIDCL) received funds in a fiduciary capacity from the government. The interest earned on deposits in bank accounts, derived from the funds for infrastructure projects, was deposited into the Consolidated Fund of India. Yogesh Kumar US (Judicial Member) […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has determined that the Fee for Technical Service (FTS) and interest income received from the joint venture Indian company must be taxed by the directive issued by the Tax Deduction at Source Officer, as per Section 195 of the Income Tax Act, 1961. The taxpayer […]
The penalty under section 271AAA of the Income Tax Act, 1961 was removed by the Income Tax Appellate Tribunal (ITAT) Delhi bench due to the lack of an opportunity to clarify the source of unrevealed income during the search proceedings. The assessee, Vikram Dhirani, voluntarily submitted the income found during the search and included it […]
No addition is to be incurred without making an independent inquiry from the related builder for the property purchase, the Income Tax Appellate Tribunal (ITAT) Delhi bench ruled. The decision of deletion of addition which the CIT(A) stated is been kept by the bench. When an investigation Wing of the department performs the investigation operation […]
The government’s request to tax cash deposits made by a corporation during the demonetization era was denied by an income tax tribunal since the company had provided information about the source of the deposits. On account of cash deposited by the business in specific bank notes in its bank account between November 9 and December […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) agreed with the assessee’s arguments and came to the conclusion that there were relevant grounds for violating sections 269SS and 269T of the Income Tax Act, 1961. In rejecting the penalty order, the two-judge bench of Shamim Yahya and Asta Chandra noted that they did […]
2% TDS is deductible on common area maintenance charges, the Delhi Bench of the Income Tax Appellate Tribunal (ITAT) stated. The two-member bench of C.M. Garg (Judicial Member) and Pradip Kumar Khedia (Accountant Member) revealed that the common area maintenance charges were not counted under the actual rent filed to the owner through the taxpayer […]
