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Meagre Control Over Companies Transacting In Penny Stock Is No Basis To Question Source Of Source Of Income: Delhi ITAT

On not finding any substance in the conclusion of AO that the source of source of income is tainted, the Delhi ITAT confirms the deletion of addition made u/s 68 of Income Tax Act.The Bench comprising. ....

Narendra Kumar Billaiya , Counsel For Appellant Department , Income Tax , Anubhav Sharma , Judicial Member , Accountant Member , Limited Scrutiny , Delhi Itat , Eletion Of Addition , Ection 68 Of Income Tax Act ,

Proceedings Under Remand Passed Without Application Of Mind: Delhi ITAT Deletes Addition Made By ITO

On finding that I-T Authorities had passed the same order which was earlier remanded, without proper application of mind, the New Delhi ITAT deleted the addition made by the ITOs.The Bench of Shamim. ....

New Delhi , Lit Authorities , Shamim Yahya , Accountant Member , Delhi Itat , On Application Of Mind , Eletion Of Addition ,