New Star System Solution Private Limited Vs. Dy. Commissioner of Income Tax
Case No: ITA No.3585/Del/2025
Court: Income Tax Appellate Tribunal, Delhi Bench ‘E’
Date: 1/21/2026
Parties Involved
AppellantNew Star System Solution Private Limited
RespondentDy. Commissioner of Income Tax Circle-18(2), New Delhi
Facts Summary
The appellant, New Star System Solution Private Limited, is a company dealing with software development, trading, and buying/selling of stocks, bonds, derivatives, etc. The company filed an e-return for the relevant year declaring Nil income and a current year loss of Rs. 22,957/-. The case was selected for scrutiny, and the company was asked to furnish details regarding its business activities, interest expenditure, and investments in shares. The company claimed that it was engaged in the busin…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the disallowance of interest expenses under section 36(1)(iii) of the Income Tax Act, 1961, was justified.
- 2. Whether the assessment proceedings were null and void due to improper jurisdiction.
Precedents Relied Upon
6 precedents cited in this judgement.