Tax Guru

ITAT Delhi Quashes Reassessment – Section 148 Notice Held Time-Barred

Tribunal ruled that the Section 148 notice issued on 29.07.2022 was beyond the limitation period under Section 149, following the Supreme Court’s Rajeev Bansal (2024) decision. Reassessment ...
Tax Guru

ITAT Delhi Gives Fresh Chance to Prove Loan Withdrawals as source of Cash Deposits

The Delhi ITAT set aside an ex-parte assessment, remanding the Rs.13.74 lakh cash deposit case back to the AO for fresh verification. The ruling gives the taxpayer an opportunity to substantiate the ...
Tax Guru

Books Can’t Be Rejected merely for Missing Return: ITAT Deletes ₹1.34 Cr Cash Addition

ITAT Delhi held that cash-in-hand reflected in audited books remains valid even if no return was filed for the prior year, deleting the entire unexplained cash ...
Tax Guru

Assessment Quashed, Penalty Falls – ITAT Delhi Quashes Section 271AAC Penalty

The Delhi ITAT deleted a Rs.18.01 lakh penalty levied under Section 271AAC(1), holding that once the underlying assessment order is set aside, the consequential penalty order cannot survive. The ...
Tax Guru

Stock Exchange Margin Penalties Fully Deductible, ITAT Allows ₹1.22 Cr Claim

The Delhi ITAT deleted a disallowance of Rs.1.22 crore, ruling that charges paid to the Stock Exchange for margin shortfall are regulatory fees, not penalties for offenses prohibited by law. Following ...
Tax Guru

No Change of Opinion When Issue Never Examined – ITAT Delhi Upholds Reopening

The Delhi ITAT in Jain Textile Industries v ACIT upheld the validity of a Section 147 reopening, ruling that where specific issues like omitted interest income and capital expenditure on accessories ...
Tax Guru

ITAT Delhi Quashes 153C Assessment – One Approval for Two Years Held Invalid

The ITAT Delhi allowed the appeal of Vivaan Prakash, quashing the u/s 153C assessment for AY 2018-19. The Tribunal ruled that the single u/s 153D approval granted by the Addl. CIT for two assessment ...
Tax Guru

Marketing & Reservation Fees Not Taxable as FTS under India-US DTAA: ITAT Delhi

The ITAT Delhi ruled that Marketing & Reservation Contributions (MRC) received by a US-based hotel brand entity from Indian franchisees are not taxable as Fees for Technical Services (FTS) or Royalty ...
Tax Guru

When Time Runs Out, So Does Charity: ITAT Upholds Rejection of Delayed Appeal

Citing lack of sufficient cause for condonation, the Tribunal ruled that even charitable entities cannot escape limitation rules, dismissing the appeal filed after over six ...
Tax Guru

Karnataka HC Quashes Section 271DA Penalty Notice Issued Beyond Limitation

The Karnataka High Court set aside a penalty notice and order under Section 271DA for violating Section 269ST, holding the proceedings were time-barred. Following the K. Umesh Shetty precedent, the ...
Tax Guru

Finality Prevails: Later SC Judgment Can’t Rectify Concluded ITAT Order

Upholding the sanctity of concluded proceedings, the Court rejected the Revenue's challenge, holding that the Checkmate Services judgment on PF/ESI contributions cannot retroactively invalidate a ...
Tax Guru

Finality of Order: SC Judgment Cannot Retroactively Rectify ITAT Order

The Karnataka High Court dismissed the Revenue's petition, affirming that the ITAT correctly refused to rectify its concluded order using the later Supreme Court ruling in Checkmate Services. The ...