Death Of Tax Consultant A Valid Ground For Delay Condonation: ITAT
Case Name: Manisha Arora V/S Income Tax Officer
Citation: ITA No.2274/DEL/2024
The tribunal said that in view of the fact of the death of the tax consultant of the assessee during the material period and the assessee’s bonafide belief that its petition u/s 154 was still pending, there was a reasonable cause for the delay in filing of the appeal.
Income Tax Dept. Tried To Cancel Trust Registration By Hook Or Crook: ITAT
Case Name: Lakhmi Chand Charitable Society V/S Principal Commissioner Of income Tax
Citation: ITA No. 1803/Del/2024
The tribunal observed that in view of the provision of Section 12AA(5) of the Act as the provision of Section 12AA cannot be applied on order after 01.04.2021 the show cause notices issued by the PCIT to the appellant are, thus, found to be erroneous and therefore liable to be quashed.
Case Name: Solutions Integrated Marketing Services Private Ltd. V/S The Deputy Commissioner of Income tax
Citation: ITA No.2852/Del/2015
The bench held that credit of TDS in a financial year may be granted only when income corresponding to such TDS is assessed to tax in the said financial year.
Income Tax Assessment Order Against Non-Existing Company Liable To Be Quashed: ITAT
Case Name: ACIT V/S M/s Jai Maa Bhawani Overseas Pvt. Ltd.
Citation: ITA Nos.193, 228 & 229/Del/2022
The bench found that the particular aspect of striking off the name of assessee’s companies from the Register of Company was already with the knowledge of the A.O which is reflected in the order passed by the same AO in the Assessment Order passed in the case of M/s BRR Securities Pvt. Ltd. wherein a list of 21 companies have been mentioned. The assessee’s name is appearing at serial No. 5.
Remittance Made By Assessee To Foreign Subsidiary Companies Is Not Taxable In India: ITAT
Case Name: Income Tax Officer v/s HCL Technologies Ltd
Citation: ITA Nos. 1372 to 1377/Del/2024
The Income Tax Appellate Tribunal, New Delhi, held that the remittance made by the assessee to the foreign subsidiary companies is not taxable in India in the hands of the recipient company and therefore there would be no obligation for the payer i.e. assessee company to deduct tax at source u/s 195 of the Act.
Determination of Commission @ 2.5% on Value Which was Transferred by Book Entry is Justified: ITAT
Case Name: Surya Vincom P. Ltd. v/s ACIT
Citation: ITA No.1098/DEL/2019
The Income Tax Appellate Tribunal ruled that the determination of commission @ 2.5% on the value of Rs.15.38 crores which was transferred by book entry to Surya Processed Food Pvt. Ltd. is justified.
Case Name: Harisha v/s Principal Commissioner of Income Tax
Citation: ITA No.816/Bang/2024
The Income Tax Appellate Tribunal, Bangalore, observed that Income Tax Act gives powers to the valuation officer to get details from the assessee in order to ascertain the value of the property.
Software License Expenditure To Be Revenue In Nature: ITAT
Case Name: ACIT v/s First Advantage Pvt Ltd
Citation: ITA no.1380/Mum./2024
The Income Tax Appellate Tribunal Mumbai ruled that the software license expenditure on similar products to be revenue in nature.
Software License Expenditure To Be Revenue In Nature: ITAT
Case Name: ACIT v/s First Advantage Pvt Ltd
Citation: ITA no.1380/Mum./2024
The bench viewed that the CIT(A) has rightly deleted the disallowance made by the AO under section 40(a)(ia) of the Act, and found disallowance of 30% of the total payments to be unjustified. Accordingly, the order passed by the CIT(A) on this issue is affirmed by the tribunal.
Amount Of Hardship Allowance Received By The Assessee Is Not Income Of The Assessee: ITAT
Case Name: Sonal Samit Vartak v/s ITO
Citation: ITA No.1139/Mum/2024
The bench relied on the judgment of Bombay High Court in case of Sarfaraz S. Furniturewalla in which it has been held that the hardship allowance paid by the developer is not to be considered and is not liable to be taxed as revenue receipt.
Gift From Brother Not Chargeable To Tax In Hands Of Assessee Being Relative: ITAT
Case Name: Abul Wais Abdus Salam v/s ITO
Citation: ITA No.515/Mum/2024
The Income Tax Appellate Tribunal, Mumbai, ruled that the gift from a brother is not chargeable to tax in the hands of the assessee being relative.
