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HC - The Third Proviso which restricts the power of the ITAT to grant stay beyond 365 days “even if the delay in disposing of the appeal is not attributable to the assessee” is arbitrary, unreasonable and discriminatory. It is struck down as violative of Article 14. The ITAT has the power to extend stay even beyond 365 days
Pepsi Foods Pvt. Ltd vs. ACIT
(2015) TaxCorp(LJ) 6642 (HC-DELHI) · Section 254(2A)
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HC- Loss on sale of shares by assessee to JV partner at price lower than one offered in rights issue was not a 'colourable device' and transaction could not be said to be a cover up for de facto or real transaction
Commissioner of Income-tax v. SIEL Ltd.
(2015) TaxCorp(LJ) 6626 (HC-DELHI) · http://taxcorp.in/FileOpenINTL.aspx?ID=7418&Category=INTLDecisions&CategoryType=Zip
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HC - Since assessee had amalgamated with transferee-company, assessment in name of amalgamating company was invalid (a nullity) as it ceased to exist after amalgamation.
Commissioner of Income-tax (C)-II v. Micra India (P.) Ltd.
(2015) TaxCorp(LJ) 6624 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61143&Category=Judgment&CategoryType=Zip
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HC - Amendment made by Finance Act, 2008 to Sec 254(2A) restricting Tribunal's power to extend the stay beyond 365 days, even if there is no fault of taxpayer, violates the non- discrimination clause of Article 14 of the Constitution of India
Pepsi Food Ltd. vs. DCIT
(2015) TaxCorp(LJ) 6619 (HC-DELHI)
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HC - Revenue is not entitled to demand unrestricted access to acquire electronic records present in laptops pertaining to third parties unconnected with person searched
S. R. Batliboi and Co. v. Department of Income-tax (Investigation)
(2015) TaxCorp(LJ) 6606 (HC-DELHI)
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HC - Where genuineness of the expenditure and the fact that it was incurred for business activities was not doubted, no section 14A disallowance
Commissioner of Income-tax- IV v. Holcim India (P.) Ltd.
(2015) TaxCorp(LJ) 6583 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58087&Category=Judgment&CategoryType=Zip
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HC - For purpose of depreciation, actual cost of fixed assets acquired under slump sale should be taken as per surveyor's report.
DE Nora India Ltd. v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 6582 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58955&Category=Judgment&CategoryType=Zip
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HC - Since all facts had been fully and truly disclosed before Assessing Officer at time of original assessment, attempt to reopen assessment on aforesaid ground would amount to change of opinion, which is not permissible in law.
Lalit Bagai v. Deputy Commissioner of Income-tax, Circle 38(1)
(2015) TaxCorp(LJ) 6556 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=58806&Category=Judgment&CategoryType=Zip
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HC - Through a series of transactions - which were, essentially, book entries - the assessee had devised a loss ('inter-linked' share transactions) to set off against its other income.
Vishishth Chay Vyapar Ltd vs CIT
(2015) TaxCorp(LJ) 6549 (HC-DELHI)
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HC - Notional interest accruing from other sources was not “real income” in the facts and circumstances of this case. Thus, no addition.
Commissioner of Income Tax Central –II Versus M/s. Navbharat Export
(2015) TaxCorp(LJ) 6541 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61112&Category=Judgment&CategoryType=Zip
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HC - Where AO had accepted valuation during assessment then no reassessment can be made by AO on basis of valuation report of DVO.
Prabhu Dayal Rangwala v. Commissioner of Income-tax
(2015) TaxCorp(LJ) 6537 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61115&Category=Judgment&CategoryType=Zip
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HC - There are three key factors relevant for valuation of goodwill - duration of functioning of assessee, quantum of orders in hand when collaboration agreement was executed and monopoly over a product held by assessee.
CIT. vs. Motherson Auto P. Ltd.
(2015) TaxCorp(LJ) 6511 (HC-DELHI)
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HC - Assessee’s business was set-up in preceding year when assessee started execution of the contract by taking steps such as entering into manufacturing agreement with a third person for manufacture and installation and made advance payment
CIT. vs. Jcdecaux Advertising India Pvt. Ltd.
(2015) TaxCorp(LJ) 6484 (HC-DELHI)
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HC - Assessee not entitled to any interest for delayed payment of interest under section 244A on principal refund amount.
Commissioner of Income-tax v. Indian Farmer Fertilizer Co-Operative
(2015) TaxCorp(LJ) 6481 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60584&Category=Judgment&CategoryType=Zip
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HC - Initiation of proceedings under section 201 against assessee after 9 years from end of relevant financial year was time barred
Commissioner of Income-tax (TDS)-I v. C.J. International Hotels (P.) Ltd.
(2015) TaxCorp(LJ) 6480 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=60505&Category=Judgment&CategoryType=Zip
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HC - Addition made on account of notional interest on advances made during normal course of business is to be deleted as there are no specific taxing provision.
Shivnandan Buildcon Pvt. Ltd vs. CIT & Anr
(2015) TaxCorp(LJ) 6478 (HC-DELHI)
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HC - Assessee is not entitled to any interest for delayed payment of interest under section 244A on principal refund amount. Assessee is entitled to receive interest only to extent of amount specified in section 244A(1).
Commissioner of Income-tax v. Indian Farmer Fertilizer Co-Operative
(2015) TaxCorp(LJ) 6468 (HC-DELHI) · http://www.taxcorp.in/FileOpenDT.aspx?ID=60584&Category=Judgment&CategoryType=Zip
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HC - Section 144 does not at all apply to the present proceedings because the present proceedings originate from an assessment under Section 143(3) of the Act.
M/s. Shivnandan Buildcon Pvt. Ltd., M/s. Omshiv Buildtech Pvt. Ltd. Versus The Commissioner of Income Tax & Another
(2015) TaxCorp(LJ) 6455 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61054&Category=Judgment&CategoryType=Zip
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HC - Depreciation allowable on amount paid by assessee for acquiring 'marketing, customer support, distribution and associate setups' of transferor company as the same is 'Exclusive network right' (goodwill, an intangible asset)
CIT. vs. Bharti Teletech Ltd.
(2015) TaxCorp(LJ) 6437 (HC-DELHI)
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HC - Though termed as goodwill, what was actually parted with by STL was a commercial right, i.e., exclusivity to the network which would not have been otherwise available but for the terms of the arrangement. Depreciation on 'goodwill' allowable.
Commissioner Of Income Tax Versus Mis Bharti Teletech Ltd.
(2015) TaxCorp(LJ) 6430 (HC-DELHI) · http://taxcorp.in/FileOpenDT.aspx?ID=61017&Category=Judgment&CategoryType=Zip
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