Disallowance on account of liquidated damages under the Income Tax Act

Last updated: 23 September 2021

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This Income Tax Appellate Tribunal case involved M/s. Fibcom India Limited and the Assistant Commissioner of Income Tax concerning disallowance related to liquidated damages. The appeal was dismissed as the assessee opted for the Direct Tax Vivad Se Vishwas Act, 2020. The Tribunal clarified that the appeal could be restored if the dispute isn't fully settled under the scheme.

Court :
ITAT Delhi

Brief :
This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-3, New Delhi, [“Ld. CIT(A)”, for short], dated 25.09.2018 for Assessment Year 2015-16.

Citation :
ITA No:- 8143/Del/2018

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1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

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Attached File : 1442821_4465_1631791942_8143_18_ms.pdf

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Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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