The Latest Breaking News from ITAT Delhi

₹1.70 crore undisclosed cash alleged in property sale, Income Tax Dept relies on WhatsApp chats and Excel sheets; here's why taxpayer wins at ITAT Delhi

The Delhi Income Tax Appellate Tribunal quashed the assessment against Mr. Sehgal regarding alleged undisclosed cash. The Income Tax Department claimed he received Rs 1.70 crore in cash from a property sale. However, the tribunal noted that the evidence did not sufficiently establish the cash transactions. The tribunal observed that…

The Economic Times · Oct 15

Man earns Rs 75 lakh by redeveloping property inherited from mother, pays no income tax, receives notice, wins case in ITAT Delhi

Property owner inherits mother’s land, converts it into freehold, DDA grants mutation, redevelops it, gets Rs 75 lakh from builder, pays no tax, gets tax notice, wins case in ITAT Delhi.

The Economic Times · Oct 14

Medicine shop owner deposits Rs 2.47 crore cash in bank account, gets income tax notice for unexplained cash; wins case in ITAT Delhi for this reason

Mr Kumar, a medicine shop owner had deposited Rs 2.47 crore cash in his bank account during demonetisation period, he got an unexplained cash income tax notice. After a long legal fight he won the case in ITAT Delhi. This article explains how.

The Economic Times · Sep 30

Purchased property below market value, filed no ITR, got income tax notice, paid the tax but asked to pay Rs 70,000 penalty; ITAT Delhi gives full relief

Rs 70,000 penalty imposed on man for buying property below market value even though he paid the due tax after getting a notice; ITAT Delhi cancels penalty

The Economic Times · Sep 26

US citizen received Rs 30 lakh income tax demand notice in India, was denied India-US DTAA relief due to a mistake: Know how she won at ITAT Delhi

Rs 30 lakh income tax demand notice and India-US DTAA benefit denied to US citizen; she fights and wins case in ITAT Delhi; Know how

The Economic Times · Sep 23

ITR filed under old tax regime by mistake, income tax paid under new regime: How a lady won case in ITAT Delhi

Filed ITR under the old tax regime but paid income tax under the new tax regime; ladywins case in ITAT Delhi after proving her accountant mistakenly filed this ITR under the old tax regime. M. Balaganesh, Accountant Member and Sudhir Kumar, Judicial Member of ITAT Delhi heard this case.

The Economic Times · Sep 16

Student gets Rs 18.34 lakh stipend from university and pays no income tax; gets notice from Income Tax Department; she wins the case in ITAT Delhi for this reason

Student gets Rs 18.34 lakh stipend from university for PG studies and pays no tax; Tax dept sent notice; She wins case in ITAT Delhi; Know how did she win and what is the income tax treatment of scholarship.

The Economic Times · Sep 15

Rs 1.17 crore interest income of minor child: Father faces Rs 12.83 lakh penalty; ITAT Delhi cancels it

Satbeer Singh Godara, judicial member and Amitabh Shukla, accountant member of ITAT Delhi, in a recent judgement ruled that a father can’t be slapped with Rs 12.83 lakh penalty under Section 270A if his ITR-reported income matches the assessed income and the only point of contention is the tax benefit…

The Economic Times · Sep 11

Rs 34 lakh F&O trading loss: Income Tax dept calls it speculative, ITAT Delhi treats Rs 25 lakh as business loss

Taxpayer lost Rs 34 lakh in F&O trading but reports it as business loss; Income Tax dept treats it as speculative loss; ITAT Delhi treats Rs 9 lakh as speculative and the rest as business loss. The ITAT Delhi bench comprised of Sudhir Kumar, Judicial Member and Manish Agarwal, Accountant…

The Economic Times · Sep 9

Bengali Hindu landlord’s Rs 1.89-crore rental income faced tax dispute over HUF status: Why ITAT Delhi gave relief

Bengali Hindulandlord earns Rs 1.89 crore rental income in Delhi, reports it in his HUF’sITR; Income Tax dept rejects it on the ground that Dayabhaga Hindu can’t have an HUF, landlord wins case in ITAT Delhi

The Economic Times · Sep 4