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The issue in the present case is already covered against the assessee in assessment year 2010-11 we do not find any reason to deviate from the same. Therefore, respectfully following the decision of the coordinate bench in the assessee’s own case the disallowance under Section 14A of the Act in the normal computation of the total income is upheld. This issue is squarely covered by the order of the coordinate bench in assessee’s own case wherein following the decision of the Special Bench in the case of Vireet Investment the addition is deleted.
DCIT (LTU) CIRCLE-1 NEW DELHI VERSUS INDIAN RAILWAY FINANCE CORPORATION LTD. AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22314 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82535&Category=ITAT&CategoryType=Zip
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According to Section 153A of the Act assessment or re-assessment relating to any assessment year falling within the period of 6 assessment year pending on the date of initiation of the search under Section 132 would abate. Apparently in this case the date of search is 16.07.2009 and this year’s period would be assessment year 2004-05 to assessment year 2009-10. Therefore, it is apparent that the assessee for assessment year 2008-09 should have been made under Section 153C of the Act and not under Section 143(3) of the Act as has been done.
COUNTRYWIDE PROMOTERS PVT. LTD. VERSUS ACIT CENTRAL CIRCLE – 23 NEW DELHI AND (VICE-VERSA)
(2020) TaxCorp(LJ) 22311 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82542&Category=ITAT&CategoryType=Zip
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The assessee want to avail this Scheme Vivad Se Vishwas, 2020 to avoid litigation and get peace of mind and ready to pay disputed income tax without interest and imposing penalty.
Sh. Gaurav Bajaj Vs Income Tax Officer
(2020) TaxCorp(LJ) 22277 (ITAT-DELHI)
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The main intention in the whole transaction was to acquire a stake in the demerged entity. It is neither a regular transaction of purchase of securities nor it is with the intention to earn profit thereon.
Quippo Telecom Infrastructure Pvt. Ltd Vs The Assistant Commissioner of Income Tax
(2020) TaxCorp(LJ) 22268 (ITAT-DELHI)
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We find from the pages 3 to 24 of the paper book, which is a copy of the trust deed of the assessee trust, that it’s objects have been bifurcated in the nature of the education, relief to poors, medical relief, and object of general public utility. We are agreed with the finding of the Learned CIT(E) that above object cannot be called as charitable in nature.
NATIONAL CRIME INVESTIGATION BUREAU VERSUS COMMISSIONER OF INCOME TAX (EXEMPTION), NEW DELHI
(2020) TaxCorp(LJ) 22248 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82362&Category=ITAT&CategoryType=Zip
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Education cess is not a disallowable expenditure u/s 40(a)(ii) of the Act having been expressly excluded from section 40(a)(ii) of the Act.
Sicpa India Private Ltd Vs Addl.CIT
(2020) TaxCorp(LJ) 22230 (ITAT-DELHI) · Section 40(a)(ii)
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The facts of the case are same as in assessment year 2010-11, respectfully following the order of the ld. CIT(A)-36 for assessment year 2010-11, it is held that the assessee cannot be said to be involved in carrying on any business, trade or commerce and the Assessing Officer is directed to allow the benefit of section 11 with consequential benefits.
ITO (E), TRUST WARD 1 (1), DELHI VERSUS M/S ASSOCIATION OF CORPORATION AND APEX SOCIETIES OF HANDLOOMS
(2020) TaxCorp(LJ) 21210 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82285&Category=ITAT&CategoryType=Zip
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Merely because the assessee categorised the claim under penalty levied on the assessee company for not complying to the terms of the contract, is not permissible to jump to the conclusion that such penalty was in respect of any offence or infraction of law committed by the assessee.
Mahavir MultitradePvt. Ltd Vs Dy. Commissioner of Income Tax
(2020) TaxCorp(LJ) 21179 (ITAT-DELHI) · Section 37(1)
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Assessee provided software development services, information technology enabled services and marketing support services to its associated enterprises on cost plus mark-up basis and availed of the management support services in the nature of legal, finance, human resource, information technology support and other support services from Avaya Singapore, thus companies functionally dissimilar with that of assessee need to be deselected from final list. Because of the absence of the profit motive and discharge of the social obligations, the Government companies stand on a different pedestal and are not good comparable to the entities like the assessee.
AVAYA INDIA PVT. LTD. VERSUS DEPUTY COMMISSIONER OF INCOME-TAX
(2020) TaxCorp(LJ) 21178 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82214&Category=ITAT&CategoryType=Zip
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It was the responsibility of the assessee to furnish documentary evidence in support that the NOIDA has paid tax to the Income-Tax department on lease rental income i.e. for the amount of the tax which was deductible on lease rental payment under reference, along with the interest. If the said interest has already been paid by the NOIDA, no recovery can be made from the assessee for the said amount of the interest.
PRATEEK BUILDTECH (INDIA) PVT. LTD. VERSUS ACIT, CIRCLE – 76 (1), NEW DELHI
(2020) TaxCorp(LJ) 21166 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82198&Category=ITAT&CategoryType=Zip
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The machinery components have been imported in India to commission a custom-made plant for the buyer and those imported goods may not be used for any other customer. The assessee has been entrusted the work of commissioning of the TPD plant in view of the expertise in this field.
M/S. VOITH PAPER GMBH VERSUS DDIT, CIRCLE-2 (2) , NEW DELHI
(2020) TaxCorp(LJ) 21147 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82145&Category=ITAT&CategoryType=Zip
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Since, the service tax rules provides for payment of service tax on receipt basis, the assessee is allowed to deduct the quantity of the amount not received during the year in the computation of income.
Spar Krognos Marketing Pvt. Ltd Vs Income Tax Officer
(2020) TaxCorp(LJ) 21140 (ITAT-DELHI)
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When the redeemable preferential shares have been redeemed to the investor companies in subsequent years which is much prior to the search, therefore, these investments are genuine. We further find from the various pages of the paper book that in response to the notice issued u/s 133(6) to the investor companies, the directors of the respective investor companies appeared before the AO whose statements were recorded u/s 131 and they have confirmed to have invested in the shares of the assessee company.
NIMBUS (INDIA) LTD., C/O RRA TAXINDIA VERSUS DCIT, CENTRAL CIRCLE, NOIDA.
(2020) TaxCorp(LJ) 21132 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82108&Category=ITAT&CategoryType=Zip
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Penalty proceedings u/s 271(1)(c) were neither initiated by the AO during assessment proceedings nor by the Ld. CIT(A) during the appellate proceedings in respect of the aforesaid disallowance. CIT(A) has also not levied any penalty under Section 271(1)(c) of I.T. Act.
ADDITIONAL COMMISSIONER OF INCOME TAX, VERSUS M/S ONGC VIDESH LTD.
(2020) TaxCorp(LJ) 21129 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82088&Category=ITAT&CategoryType=Zip
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The said that the investment shown by the appellant was understated and that anything above what was disclosed by the appellant. Thus, the condition precedent for making reference to the DVO by invoking the provisions of Sec. 142A was not satisfied in the present case. Moreover, on perusal of the assessment order, it is noted that nowhere the AO has mentioned that what are the mistakes and unreliability has been found out by the AO in the books of accounts of the appellant.
DCIT, CIRCLE 25 (1), NEW DELHI VERSUS SMT. USHA RANI TALLA, URVASHI TALLA
(2020) TaxCorp(LJ) 21127 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82093&Category=ITAT&CategoryType=Zip
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A.O, did not doubt the identity of the creditors and their creditworthiness. The A.O. merely doubted genuineness of the transaction because of the disproportionate income of the creditors as regards the loan advanced to the assessee. In case A.O. was having any doubt on any of the point, he could have summoned all the creditors and record their statements on oath under section 131 of the I.T. Act, 1961, to find-out the truth.
MEENU KAPOOR VERSUS THE ACIT, CIRCLE-47 (1), NEW DELHI.
(2020) TaxCorp(LJ) 21126 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82094&Category=ITAT&CategoryType=Zip
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There is no dispute that the assessee is an authorised money changer. In our considered opinion, this line of business required availability of cash in huge amount as the persons give dollars to be exchanged in Indian currency. Considering the exchange rate, the assessee has to carry heavy cash. To this extent, we do not find any quarrel between the assessee and the revenue.
R.G. CONSULTANTS PVT. LTD. VERSUS THE DY. C.I.T. CIRCLE – 15 (1) , NEW DELHI AND (VICE-VERSA)
(2020) TaxCorp(LJ) 21118 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82080&Category=ITAT&CategoryType=Zip
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Merely supplying components of machinery may not be of any use for the buyer until all those parts are assembled and commissioned.
Voith Paper GmbH Vs DDIT
(2020) TaxCorp(LJ) 21113 (ITAT-DELHI)
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A perusal of the decision of the Hon’ble High Court in LG Cables shows that the Hon’ble High Court has dealt with each of the issues raised by the AO in the present case. The existence of PE would not constitute sufficient business connection.
DDIT, CIRCLE-3 (1), INTERNATIONAL TAXATION, NEW DELHI. VERSUS MITSUI & CO. LTD. (VICE-VERSA)
(2020) TaxCorp(LJ) 21109 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82053&Category=ITAT&CategoryType=Zip
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In the case, assessee has purchased shares of the three companies at a particular price and sold them at a lower price, which resulted in short-term capital loss. The list of the shares transacted by the assessee has been reproduced above. According to the assessee purchase and sale of the shares have been made on recognized stock exchange through registered brokers and payments have been made and received by way of bank account.
SANJAY KAUL VERSUS INCOME-TAX OFFICER WARD 24 (4), NEW DELHI
(2020) TaxCorp(LJ) 21098 (ITAT-DELHI) · https://taxcorp.in/FileOpenDT.aspx?ID=82017&Category=ITAT&CategoryType=Zip
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