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For the purpose of determination of ‘market price’ of power u/s 80IA(4) r.w.s. 80IA(8), where multiple options of price of a product are available, then the price which is more favourable to the assessee needs to be adopted.
Hero Motocorp Ltd Vs Addl. CIT
(2022) TaxCorp(LJ) 29338 (ITAT-DELHI)
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When a person has been absolved by SEBI and Revenue has not placed any material to prove involvement of assesse, there remains no justification to hold amount as unexplained credit u/s 68.
Mukesh Mittal Vs Income tax Officer
(2022) TaxCorp(LJ) 29334 (ITAT-DELHI) · Section 68
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The interest received on compensation to the assessee is nothing but a capital receipt and the addition is against the law.
Nariender Kumar Vs ITO
(2022) TaxCorp(LJ) 29292 (ITAT-DELHI) · Section 56(2)(viii)
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Interest u/s 201(1A) does not assume the character of business expenditure and also cannot be regarded as compensatory payment.
New Modern Bazaar Departmental Store Pvt. Ltd Vs ITO
(2022) TaxCorp(LJ) 29290 (ITAT-DELHI) · Section 37(1)
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There is no evidence that money lying in the bank account represent undisclosed income in terms of Sec. 5(1).
Sh. Karamjit S. Jaiswal Vs The Deputy Commissioner of Income Tax
(2022) TaxCorp(LJ) 29251 (ITAT-DELHI)
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When assessee itself has classified its shares into investment portfolio, and had sold the shares in the relevant year itself after making substantial gain, then it cannot be held that assessee was not an investor but a share trader.
Divya Shakti Trading Services Ltd Vs DCIT
(2022) TaxCorp(LJ) 29250 (ITAT-DELHI)
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Assessee has rightly deducted the tax @ 10% as per provisions contained under DTAA and Sec. 206AA cannot have overriding effect on DTAA, and therefore, no demand is payable by the assessee.
Air India Limited Vs ITO
(2022) TaxCorp(LJ) 29245 (ITAT-DELHI)
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ITAT - Penalty u/s 271AAA levied on ad-hoc addition based on average gross profit rate unsustainable.
Ace Steel Fab (P) Ltd Vs Dy.CIT
(2022) TaxCorp(LJ) 29233 (ITAT-DELHI) · Section 271AAA
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The Assessee shall fully co-operate in the proceedings without any demur and shall furnish the evidences/documents etc. as called for expeditiously.
Vavasi Telegence P. Ltd Vs ITO
(2022) TaxCorp(LJ) 29154 (ITAT-DELHI)
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Ceding commission, being reimbursement of expenses, cannot be considered to be paid for soliciting or procuring insurance business.
AXA France Vie Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29138 (ITAT-DELHI)
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Allotment of bonus shares cannot be considered as received for an inadequate consideration and therefore, it is not taxable as income from other sources u/s 56(2)(vii)(c) of the Act.
Bhanu Chopra Vs Jt. Commissioner of Income Tax
(2022) TaxCorp(LJ) 29130 (ITAT-DELHI) · Section 56(2)(vii)(c)
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These aspects are factual aspects and are not readily available and the matter can be remitted to the AO for examination in this regard the aforesaid is a crucial aspect and has not been examined by the Revenue authorities below, hence we deem it proper to remit the file to the AO to examine the issue.
GSA Gestions Sportives Automobiles SA Vs DCIT
(2022) TaxCorp(LJ) 29092 (ITAT-DELHI)
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Since the conditions of Article 12(4)(b) are not satisfied, the amount received cannot be treated as FTS.
Microstrategy Singapore Pte. Ltd Vs ACIT
(2022) TaxCorp(LJ) 29042 (ITAT-DELHI)
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Merely because the training program was of boarding nature, that cannot change the nature of program to fall in the purview of services, for which consideration should be FIS.
Russell Reynolds Associates Inc Vs DCIT
(2022) TaxCorp(LJ) 29041 (ITAT-DELHI)
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The Assessee was not obliged to deduct tax at source under Section 195 while remitting the amount to GT UK LLP.
Grant Thornton Advisory (P.) Ltd Vs DCIT
(2022) TaxCorp(LJ) 29039 (ITAT-DELHI)
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The fee received by the Assessee under the Centralized Services Agreement cannot be treated as FIS either under Article 12(4)(a) or 12(4)(b) of the India-USA DTAA and in absence of PE in India, cannot be taxable as business income as well.
Starwood Hotels & Resorts Worldwide Inc. Vs ACIT
(2022) TaxCorp(LJ) 29019 (ITAT-DELHI)
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There was nothing on record to suggest that DHR Holding was acting as an agent wholly and exclusively for the Assessee and not in its regular course of business to make it a PE under Article 5(9) of the Treaty.
AB Sciex Pte. Ltd. Vs Assistant Commissioner of Income Tax
(2022) TaxCorp(LJ) 29011 (ITAT-DELHI)
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On perusal of agreement that payment on cost to cost basis did not involve any profit element, the reimbursement would not be liable to TDS.
TS-345-ITAT-2021DEL-Airports_Authority_of_India
(2022) TaxCorp(LJ) 28995 (ITAT-DELHI)
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Non compete fee though is an intangible asset, however, it is not similar to know how, patent, copy right, their trademark, licenses, franchises or any other business or commercial right of similar nature.
Sagar Ratna Restaurants Pvt. Ltd. Vs ACIT
(2022) TaxCorp(LJ) 28970 (ITAT-DELHI) · Section 32
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In that case, the Assessee was entitled to use the benefit flowing from the license even after termination of the license agreement.
Nefab India Pvt. Ltd Vs DCIT
(2022) TaxCorp(LJ) 28967 (ITAT-DELHI)
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