DCIT vs. NITS Softech (ITAT Delhi)

Related Judgements

1. Saurabh Srivastava vs. DCIT (ITAT Delhi Special Bench) 

   Consideration received by an assessee for agreeing not to compete constitutes a capital receipt even though (i) the period of restraint is only 18 months and (ii) the assessee continued service with the payer-company as Managing Director.

2. Sumit Bhattacharya vs. ACIT (ITAT Mumbai Special Bench) 

   (i) Amounts received by an assessee from the foreign holding company of his employer company on redemption of stock appreciation rights, being “fruits of employment” is chargeable to tax as “salaries” despite the absence of an employer-employee relationship (ii) there … Sumit Bhattacharya vs. ACIT (ITAT Mumbai Special…

3. Rupee Finance vs. ACIT (ITAT Mumbai) 

   Where the assessee purchased shares at a price below the market price and the question was whether the difference between the market price and the purchase price can be assessed as unexplained investment u/s 69 or as a benefit u/s … Rupee Finance vs. ACIT (ITAT Mumbai) Read…

4. Glenmark Laboratory vs. DCIT (ITAT Mumbai) 

   For purposes of s. 80HHC, the direct cost attributable to the earning of the DEPB license (equal to the value of the license on the date of receipt) has to be reduced from the direct cost of trading goods on … Glenmark Laboratory vs. DCIT (ITAT Mumbai) Read…

5. Mayawati vs. DCIT (ITAT Delhi) 

   s. 68 does not apply to an assessee who does not maintain books of account. Balance sheet/statement of affairs and bank pass book do not constitute ‘books of account’. In considering the genuineness of the “gifts”, it must be borne … Mayawati vs. DCIT (ITAT Delhi) Read More…