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Payment received by the Swedish company for providing Information Technology services is held not taxable as FTS, by applying restrictive provision of FTS provided in India-Portugal DTAA by invoking MFN clause under India- Sweden DTAA.
Perfetti Van Melle ICT & BV Vs ACIT
(2022) TaxCorp(LJ) 28533 (ITAT-DELHI)
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The action of the learned Assessing Officer was legal and non-production of the persons summoned had rightly led to the inference that the assessee had routed their own money in the books of accounts through the conduit of investor companies.
Anandtex international P.Ltd Vs ACIT
(2022) TaxCorp(LJ) 28532 (ITAT-DELHI) · Section 68
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Resort to section 41(1) could arise only if the liability of the assessee has said to have ceased finally without having possibility of reviving it, which is not the case here.
ACIT, CIRCLE 2 GHAZIABAD VERSUS M/S SUPREME CERAMICS LIMITED AND VICE-VERSA
(2022) TaxCorp(LJ) 28530 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95948&Category=ITAT&CategoryType=Zip
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The CIT(A) has rightly upheld the disallowance made by the A.O. in respect of the claim made by the assessee for deduction of annual of mixed use charges paid by the assessee to Municipal Corporation of Delhi, in respect of the property of the Assessee.
AMAR CHAND GARG VERSUS ACIT, CIRCLE 35 (1) NEW DELHI
(2022) TaxCorp(LJ) 28528 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95954&Category=ITAT&CategoryType=Zip
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Collection of annual mixed use charges would not make any difference in the annual let out value of the property and thus, the same was not allowable as per the proviso to Section 23(1).
Amar Chand Garg Vs ACIT
(2022) TaxCorp(LJ) 28523 (ITAT-DELHI) · Section 23(1)
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The Assessing Officer cannot substitute his own value in place of the value determined either on DCF method or NAV method
INTELLIGRAPE SOFTWARE PVT. LTD. VERSUS DCIT, CIRCLE-12 (2) , NEW DELHI
(2022) TaxCorp(LJ) 28509 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95904&Category=ITAT&CategoryType=Zip
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The benefit provided under the third proviso to section 50C(1) of the Act, should be extended to the assessee, as, ultimately the value determined by the Stamp Valuation Authority has been substituted by DVO's valuation in terms of sub-section (3) of section 50C of the Act.
SMT. KRISHNA YADAV VERSUS INCOME TAX OFFICER, WARD-2 (3) GURGAON
(2022) TaxCorp(LJ) 28507 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95912&Category=ITAT&CategoryType=Zip
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We do not find any reason to take a view contrary to the one taken by the authorities and we find no option but to confirm the additions.
PRAHLAD SINGH BISHT VERSUS INCOME-TAX OFFICER, WARD 2 (1) , GHAZIABAD
(2022) TaxCorp(LJ) 28490 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95835&Category=ITAT&CategoryType=Zip
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Subscription charges receivable for Foreign Telecasting Companies (FTCs) shall continue to be taxed in accordance with guidelines prescribed for advertisement revenue.
CABLE NEWS NETWORK INC. VERSUS THE DY. C.I.T., CIRCLE-2 (2) (1) , INTERNATIONAL TAXATION NEW DELHI
(2022) TaxCorp(LJ) 28489 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95842&Category=ITAT&CategoryType=Zip
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We do not find any infirmity in the order of the Ld. CIT(A).
ASST. COMMISSIONER OF INCOME TAX, CIRCLE-76 (1) , NEW DELHI VERSUS M/S PARSONS BRINCKERSHOFF INDIA PVT. LTD.
(2022) TaxCorp(LJ) 28488 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95851&Category=ITAT&CategoryType=Zip
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Since the funds were received with permission from RBI, therefore no addition of share premium u/s 68.
Azure Retreat P Ltd Vs The I.T.O
(2022) TaxCorp(LJ) 28476 (ITAT-DELHI) · Section 68
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The diary does not pertain to the assessee and income does not belong to him in his individual capacity. Since it does not belong to him, it cannot be taxed in his hands.
SHRI OM PRAKASH JAKHOTIA VERSUS ACIT, CC – 26, NEW DELHI.
(2022) TaxCorp(LJ) 28471 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95794&Category=ITAT&CategoryType=Zip
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Considering agreement with RIC, we are of the considered opinion that RIC does not constitute DAPE of the assessee under the relevant article of the India - USA DTAA.
M/S ESM GROUP INC. VERSUS THE A.C.I.T., CIRCLE-1 (2) (2) , INTERNATIONAL TAXATION NEW DELHI
(2022) TaxCorp(LJ) 28470 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95800&Category=ITAT&CategoryType=Zip
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Inspection and examination of the goods before shipment is a common practice and it cannot be treated as a technical and managerial service.
Maharashtra Seamless Ltd Vs DCIT
(2022) TaxCorp(LJ) 28468 (ITAT-DELHI)
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There is nothing on record to rebut the correctness of cash deposited in the bank account held with HDFC bank, the addition sustained by the learned CIT(Appeals) cannot be confirmed.
Naresh Sharma Vs Income-tax Officer
(2022) TaxCorp(LJ) 28459 (ITAT-DELHI) · Section 69C
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The existence of belief has to be bonafide and has to be based on material which is relevant hence specific in nature. The basis of the belief should be discernable from the facts on record and ascertainable with regard to the escapement of income.
ACIT, CIRCLE, ROHTAK VERSUS SMT. RAVI PARKASH AGGARWAL AND VICE-VERSA
(2022) TaxCorp(LJ) 28457 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95770&Category=ITAT&CategoryType=Zip
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Technology only will be considered as made available when the person acquiring such knowledge is possessed of the same enabling him to apply in future at his own.
Autoliv ASP Inc Vs The Dy. C.I.T
(2022) TaxCorp(LJ) 28444 (ITAT-DELHI)
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For allowing a cash credit, the onus is always on the assessee to substantiate with evidence to the satisfaction of the A.O. regarding the identity and creditworthiness of the Investor/Share applicants and the genuineness of the transaction.
M/S. ROYAL INFRAMART PVT. LTD. VERSUS THE INCOME TAX OFFICER, WARD – 21 (4) , NEW DELHI.
(2022) TaxCorp(LJ) 28441 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95735&Category=ITAT&CategoryType=Zip
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Provisions of Section 273B can be invoked in the case of the assessee as a reasonable cause for failure could be substantiated.
MAHANAGAR TELEPHONE NIGAM LTD. VERSUS DCIT, CIRCLE-1 NEW DELHI
(2022) TaxCorp(LJ) 28431 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95731&Category=ITAT&CategoryType=Zip
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Payment of interest on the loans which have not been proved to be for business purpose and the waiver of the loan are not interrelated but are mutually exclusive.
MATRIX CELLULAR SERVICES PVT. LTD. VERSUS DCIT, CIRCLE-16 (2) NEW DELHI
(2022) TaxCorp(LJ) 28418 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=95692&Category=ITAT&CategoryType=Zip
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