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Addition under Section 69A Not Sustainable for Mere Reclassification of Unsecured Loans: ITAT Mumbai in ITO v. NDW Development Corporation LLP
The present appeal was filed by the Revenue before
the Income Tax Appellate Tribunal, Mumbai Bench “B”, challenging the order of
the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, for
Asses...
Bogus Purchase Addition Deleted Despite Supplier Return Issues: ITAT Mumbai Upholds Documentary Evidence Over Mere Non-Filing – ACIT vs Everest Food Products Pvt. Ltd. (AY 2021-22)
The present appeal was
preferred by the Revenue against the order passed by the Commissioner of Income
Tax (Appeals) under section 250 of the Income-tax Act, 1961 for Assessment Year
2021-22. The assessee company, eng...
Reversal of MSMED Act Interest Not Taxable If Not Claimed as Deduction – ITAT Mumbai in Siemens Limited vs ADIT (AY 2020-21)
The present
appeal was filed by Siemens Limited before the Income Tax Appellate
Tribunal, Mumbai Bench, against the order dated 20.08.2025 passed by the
Additional/Joint Commissioner of Income Tax (Appeals) for the As...
Cash Deposits Explained by Prior Withdrawals and Tuition Income: Section 69A Addition Deleted by ITAT Mumbai – Manisha Kamalkar Sadavarte Case
The present appeal was filed by the assessee
against the order of the Commissioner of Income Tax (Appeals), National
Faceless Appeal Centre, for Assessment Year 2017-18, confirming an addition of
₹10,05,000 made und...
Reassessment Invalid Where No Addition Made on Recorded Reasons: ITAT Mumbai Allows LTCG Exemption under Section 10(38) – Chintan Harshad Kanakia v. ITO
The appeal before the Income Tax Appellate
Tribunal, Mumbai Bench “C”, was filed by the assessee against the order of the
Commissioner of Income Tax (Appeals) for Assessment Year 2015-16, wherein the
validity of r...
Business Expenditure of Holding Companies Allowable Even Without Active Operations: ITAT Delhi in Lifestyle and Media Holdings Ltd. vs DCIT (AYs 2014-15 to 2016-17)
The
assessee, Lifestyle and Media Holdings Limited, a holding company
incorporated to invest in and oversee subsidiaries operating in the non-news
lifestyle media segment, had claimed deduction of routine administrati...
Revision under Section 263 Invalid When AO Takes a Plausible View: ITAT Delhi in Decent Securities (P) Ltd v. Pr. CIT (AY 2017-18)
The
present appeal arose from the second revisionary order passed by the Principal
Commissioner of Income Tax under Section 263 of the Income-tax Act, 1961,
seeking to revise the assessment framed pursuant to earlier ...
Validity of Assessment under Section 153A in Abated Proceedings – ITAT Delhi in ACIT v. Sandur Bypass Projects Pvt. Ltd. (AY 2011-12)
The
appeal was filed by the Revenue against the order of the Commissioner of Income
Tax (Appeals), New Delhi, pertaining to Assessment Year 2011-12, arising from
an assessment framed under Sections 153A read with 143(...
Assessment under Section 153A Without Incriminating Material Is Invalid – Bogus LTCG Addition Deleted by ITAT Delhi in Nitin Johari v. ACIT
The
appeal was filed by the assessee against the order passed by the Commissioner
of Income Tax (Appeals), confirming an assessment framed under Section 153A
read with Section 143(3) of the Income-tax Act, 1961 for As...
Revision under Section 263 Invalid Where AO Conducted Due Enquiry: ITAT Delhi in J.M. Housing Limited v. Pr. CIT (Central), Kanpur
The
appeal before the Income Tax Appellate Tribunal, Delhi Bench, arose from the
order passed by the Principal Commissioner of Income Tax (Central), Kanpur
under Section 263 of the Income Tax Act, 1961, seeking to rev...