Delhi ITAT deletes ₹3.75 crore addition made solely on the basis of a survey statement under Section 133A. Tribunal holds that without corroborative evidence, such statements lack legal weight.
Delhi ITAT deletes addition under Section 68 made on cash deposits during demonetisation, holding that when books are audited and accepted, and no discrepancy in stock or sales is found, such addition is legally unjustified.
Delhi ITAT quashes reassessment under Section 147 where reopening was based on mere suspicion and no addition was made on the original issue. Reiterates that AO must have reason to believe, not reason to suspect.
ITAT Delhi rules that commission income for accommodation entries cannot be taxed in the name of a conduit/shell company if already assessed in the hands of key entry operators.
Delhi ITAT holds that where cash deposits during demonetisation are backed by regular books and no discrepancies are found in sales, purchases, or stock, addition under Section 68 is unjustified.
ITAT Delhi allows depreciation claim and 15% accumulation under Section 11 for a charitable trust despite late filing of Form 10. Section 11(6) amendment held prospective in nature.
Delhi ITAT rules that reassessment under Section 147 is invalid when initiated solely due to non-registration under Section 12A.
ITAT Delhi grants significant relief on disallowances under Sections 14A, 10B, 10AA, and 43B(f), while confirming TDS-based disallowance
ITAT Delhi rules Section 56(2)(viib) does not apply to share premium received from a 100% holding company. The deeming fiction has no place where no outsider is involved.
ITAT Delhi rules in favor of Ashok Shah, quashing addition under Section 69A. Assessee’s unsecured loan explained with confirmed creditworthiness in AO's remand report.