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ITAT Delhi: Rejection of Trust Registration u/s 12AB for Non-Submission of Documents Set Aside and Matter Remanded to CIT(E) for Fresh Opportunity – Jovit Helpers Foundation vs CIT (Exemptions) (AY 2022-23)
Facts of the CaseThe assessee, Jovit Helpers Foundation, filed an application seeking
registration under Section
12A(1)(ac)(iii) of the Income Tax Act through Form 10AB on 17.09.2023
before the Commissioner of Income ...
ITAT Delhi: Penalty u/s 271(1)(c) Not Leviable for Debatable Claims of ALV, Section 80-IB Deduction, PF/ESI Contribution & Section 14A Disallowance – Ansal Housing Ltd. vs ACIT (AY 2013-14
Facts of the CaseThe assessee, Ansal Housing Limited, filed its return for the Assessment Year
2013-14. During assessment proceedings, the Assessing Officer made additions
relating to four issues including deemed
annu...
Key Audit Matters in Audit Reports of Listed Companies – An Analytical and Empirical Study
Key Audit Matters in Audit Reports of Listed Companies – An
Analytical and Empirical Study
Introduction and
Evolution of Key Audit MattersThe
transformation of the auditor’s report during the last decade re...
ITAT Delhi: Tax on Tax Paid by Employer on Non-Monetary Perquisites Not Taxable u/s 10(10CC) – Revenue Appeal Dismissed in DCIT vs Sheetal Arora
Facts of the
CaseThe present appeal was filed by the Revenue against
the order passed by the Commissioner of Income Tax (Appeals), NFAC, for
Assessment Year 2020-21 in the case of the assessee, Sheetal Arora.During th...
ITAT Delhi: Addition u/s 69A for Cash, Jewellery & Accommodation Entries Not Sustainable When Income Already Offered Before Settlement Commission – ACIT vs Vijay Kumar Sachdeva (2024)
Facts of the CaseA search and seizure operation under Section 132 of the Income Tax Act, 1961
was conducted on 21.08.2017 in
the case of Laxmi Remote Group,
including the assessee Shri Vijay Kumar
Sachdeva, who was a...
ITAT Delhi: Invalid Satisfaction Note & Limitation Bar – Assessment u/s 153C Quashed in Aashrya Developers Pvt. Ltd. vs ACIT
Facts of the
CaseA search and seizure operation under Section 132 of the Income Tax Act, 1961
was conducted on 21.07.2016 at
the premises of persons associated with the M3M Group. During the search, certain documents ...
Reassessment Invalid When Additions Made on Grounds Not Mentioned in Reasons Recorded – ITAT Delhi in Naveen Kumar Singhal vs ITO (AY 2014-15) | Sections 147, 148, 69, 56(2)(vii)(b), 50C
Facts of the CaseThe assessee filed the return of income for AY 2014-15 declaring total income of ₹16,35,980. Subsequently, the
Assessing Officer reopened the assessment by issuing notice dated 30.03.2021 under Sectio...
ITAT Delhi: Additions Beyond Limited Scrutiny Without PCIT Approval Invalid – Notional Interest on CCDs Not Taxable (Sitac Re Pvt. Ltd. vs DCIT)
Facts of the CaseThe assessee company, Sitac Re Pvt. Ltd., was engaged in the business of installation
and sale of windmill projects, consultancy services related to windmill
projects, and investment in other companies...
ITAT Delhi: Assessment under Section 153C Invalid Where Satisfaction Note is Vague and Assessment Year Falls Beyond Limitation – Aashrya Developers Pvt. Ltd. vs ACIT
Facts of the CaseSearch and seizure operations under Section 132 of
the Income Tax Act, 1961 were conducted on 21.07.2016 at the premises of the M3M Group.During the search proceedings, certain documents
were allegedly...
Reassessment Invalid When Notice u/s 148 Issued to Old Address Despite Updated Address in ITRs – ITAT Delhi Dismisses Revenue Appeal | ITO v. Vibyor IT Consultant Pvt. Ltd.
Facts of the CaseThe Assessing Officer (AO) reopened the assessment of the
assessee based on information received from the Investigation Wing. The
reopening was initiated by issuing a notice under Section 148 of the In...