2021-TIOL-1228-ITAT-HYD

ACIT Vs Northern Power Distribution Company Of Telangana Ltd

Whether sec. 14A r/w Rule 8D is only applicable in relation to assessee's exempt income – YES: ITAT

Whether Rule 46A can be invoked only when appellate authority admits additional evidence – YES: ITAT

- Case remanded: HYDERABAD ITAT

2021-TIOL-1227-ITAT-PUNE  

HUF India Pvt Ltd Vs ACIT

On appeal, the Tribunal finds that the issues raised by the assessee-company have been settled in favor of the assessee by the Tribunal in the assessee's own case for previous AY. Hence the present appeal is disposed off accordingly.

- Assessee's appeal allowed: PUNE ITAT

2021-TIOL-1226-ITAT-DEL

IRIS Associates Pvt Ltd Vs Addl.CIT

Whether an assessee cannot claim that it was borrowing from the State, the amounts payable to it as Income Tax, and utilizing the same as capital in its business, to contend that the interest paid for the period of delay in payment of tax amounted to a business expenditure - YES: ITAT

- Assessee's appeal dismissed: DELHI ITAT