Dismissal of Revenue Appeals Against Caddie Hotels Pvt. Ltd. in ITA No. 1721/DEL/2022

The Income Tax Appellate Tribunal (ITAT), Delhi Bench, delivered a pivotal judgment in the case of DCIT, Central Circle-17, New Delhi vs. Caddie Hotels Pvt. Ltd., New Delhi concerning ITA No. 1721/DEL/2022 for the assessment year 2014-15. The core issue revolved around the valuation methodologies adopted for calculating share premiums received by Caddie Hotels P.Ltd and its compliance under Section 56(2)(viib) of the Income Tax Act, 1961. This article delves into the ITAT’s rationale for dismissing the revenue’s appeals, underscoring the tribunal’s adherence to the principles of fairness and judicial prudence in tax assessments and valuations.

Dismissal of Revenue Appeals Against Caddie Hotels Pvt. Ltd. in ITA No. 1721/DEL/2022