2022-TIOL-709-ITAT-DEL

Oisca North India Vs ITO

Whether amount of expenditure incurred by society which was not for charitable purpose but tends to promote international welfare in which India is interested in, is not eligible for exemption - YES: ITAT

- Assessee's appeal dismissed: DELHI ITAT

2022-TIOL-708-ITAT-DEL

Bharat Singh Vs ITO

Whether the power of Tribunal u/s 254 of the Act is restricted only to decide the grounds which arise from the order of the CIT(A) - NO: ITAT Whether re-opening of assessment on the basis of some grounds which are not part of the reasons recorded for re-assessment, is sustainable - NO: ITAT

- Assessee's appeal allowed: DELHI ITAT

2022-TIOL-707-ITAT-BANG

Arjun Murthy Ranga Vs Pr.CIT

Whether unless funds are borrowed for making deposits to earn interest income, such interest paid on borrowings cannot be allowed as deduction in the computation of income from other sources - YES: ITAT

- Miscellaneous Petitions allowed: BANGALORE ITAT