The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the income tax addition and held that mark-to-market losses, losses on forward contracts, and losses on forward premium accounts are.
While holding that mere disallowance of expenditure or enhancement of returned income does not ipso facto call for the imposition of penalty u/s 271(1)(c) of Income Tax Act, the Delhi ITAT deleted.
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the CIT(A) has no power to dismiss an appeal on account of non-prosecution.The bench of Challa Nagendra Prasad (Judicial Member).
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition made by the AO as there cannot be a sale without a purchase.The bench of Saktijit Dey (Vice President) and Pradip Kumar.
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that protective addition presupposes the existence of substantive additions; there can be no protective addition in the absence of.