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HC - Writ Allowed - AO did not correctly draw the inference or that his conclusion is based on incorrect premises is not sufficient for a justified reassessment notice, which has to be based on something objective outside of the record.
HCL Technologies Ltd. vs. ACIT
(2016) TaxCorp(LJ) 11666 (HC-DELHI) · Section. 147
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HC - Gold jewellery acquired through gifts made by relatives and other family members over a period of four decades was as per prevailing customs and a 70-year old lady can get 400 gm. of gold.
Sushila Devi v. Commissioner of Income-tax-XII
(2016) TaxCorp(LJ) 11664 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=66608&Category=Judgment&CategoryType=Zip
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HC - Since there was no full disclosure of material facts, reopening of assessment valid.
Aravali Infrapower Ltd. Versus Deputy Commissioner of Income Tax
(2016) TaxCorp(LJ) 11652 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=67957&Category=Judgment&CategoryType=Zip
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S. 2(42C)/ 50B: The fact that certain assets of the "undertaking" are left out of the sale transaction because it would cause inconvenience for the purchaser does not mean that the transaction is not a "slump sale". To expect a purchaser to buy and pay value for defunct or superfluous assets flies in the face of commercial sense
Triune Projects Pvt. Ltd vs. DCIT
(2016) TaxCorp(LJ) 11620 (HC-DELHI) · Sections 2(42C), 50B
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HC - A sick company liability to pay capital gains tax on subsequent positive net-worth.
Laxmi Automatic Loom Works Ltd. Vs. Deputy Commissioner Of Income Tax (Recovery) And Anr.
(2016) TaxCorp(LJ) 11615 (HC-DELHI)
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HC - The fact that the AO did not expressly record his dissatisfaction with the assessee's working does not mean that he cannot make the disallowance u/s 14A.
Indiabulls Financial Services Ltd. vs. DCIT
(2016) TaxCorp(LJ) 11599 (HC-DELHI) · Section. 14A
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HC - Revenue not justified in holding that sale of undertaking was not a genuine slump sale to qualify treatment u/s. 50B.
Triune Projects Private Limited. vs. DCIT
(2016) TaxCorp(LJ) 11598 (HC-DELHI) · Section. 50B
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S. 14A Rule 8D: The fact that the AO did not expressly record his dissatisfaction with the assessee's working does not mean that he cannot make the disallowance. The AO need not pay lip service and formally record dissatisfaction. It is sufficient if the order shows due application of mind to all aspects
IndiaBulls Financial Services Ltd vs. DCIT
(2016) TaxCorp(LJ) 11588 (HC-DELHI) · Section 14A
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HC - Since FOWC carried on business in India through a PE, at the circuit, payments made to FOWC, under the RPC were business income and chargeable to tax in India.
Formula One World Championship Limited, Jaiprakash Associates Ltd. Versus Commissioner Of Income Tax, International Taxation-3 & Anr.
(2016) TaxCorp(LJ) 11576 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=66874&Category=Judgment&CategoryType=Zip
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HC - UK tax resident Company constituted a fixed place PE in India under Article 5(1) of India-UK DTAA through the international circuit.
Formula One World Championship Ltd. Vs. Commissioner Of Income Tax, International Taxation-3 & Anr.
(2016) TaxCorp(LJ) 11574 (HC-DELHI)
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HC - Reassessment based on reappraisal of existing material is invalid.
Pr. CIT. vs. Tata Power Delhi Distribution Ltd.
(2016) TaxCorp(LJ) 11573 (HC-DELHI) · Sections. 147/148
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HC - Interest paid but not shown as deductible expenditure for the previous period should be permitted as prior period expenditure.
Commissioner Of Income Tax Delhi Versus M/s. Nav Sansar Agro Products
(2016) TaxCorp(LJ) 11560 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=66860&Category=Judgment&CategoryType=Zip
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HC - Writ Dismissed - Absence of “precise” reasons in the notice issued u/s 127 is not fatal infirmity.
Ravneet Takhar vs. CIT
(2016) TaxCorp(LJ) 11531 (HC-DELHI) · Section. 127
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HC - Writ Dismissed - Centralisation of case u/s 127 for coordinated post search investigation and meaningful assessment is valid.
M. K. Overseas Pvt. Ltd., Chaudhary Skin Trading Company vs. Pr. CIT
(2016) TaxCorp(LJ) 11529 (HC-DELHI) · Section. 127
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HC - Writ Dismissed - Reasoning required by an order u/s 127 cannot be equated to a quasi judicial order and lack of detailed reasoning is not grave-prejudice to assessee.
M. K. Overseas Pvt. Ltd., Chaudhary Skin Trading Company vs. Pr. CIT
(2016) TaxCorp(LJ) 11495 (HC-DELHI)
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HC - Branch office a 100% SEZ unit engaged in software development is eligible for exemption u/s 10A on profits arising on transfer of software to its foreign head office.
DDIT. vs. Virage Logic International
(2016) TaxCorp(LJ) 11475 (HC-DELHI) · Section. 10A
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HC - No penalty u/s 271(1)(c) where non- reporting of capital gains was on account of bonafide belief that it was eligible for relief u/s 54G based on CA’s advice.
Pr. CIT. vs. Machintorg (India) Ltd.
(2016) TaxCorp(LJ) 11474 (HC-DELHI)
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HC - Transfer of computer software by the Indian branch to the head office can be said to be ‘sale’ to the head office out of India. Entitled to claim benefit of Section 10A.
Deputy Director Of Income Tax Versus Virage Logic International
(2016) TaxCorp(LJ) 11467 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=66697&Category=Judgment&CategoryType=Zip
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HC - Writ allowed - Since there was no allusion of tangible material outside the concluded assessment, reassessment not valid.
Woodward Governor (India) Ltd. vs. ACIT
(2016) TaxCorp(LJ) 11451 (HC-DELHI)
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Department's recalcitrance to release the assessee's seized jewellery, even though it is so small as to constitute "stridhan" and even though no addition was sustained in the assessee's hands, is not "mere inaction" but is one of "deliberate harassment"
Sushila Devi vs. CIT
(2016) TaxCorp(LJ) 11441 (HC-DELHI)
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