Delhi HC Closes Appeals, Allows Writ Petition in CIT Vs L.G. Electronics

CIT Vs L.G. Electronics Inc. Korea (Delhi High Court) 1. Background of the Appeals: ITA 420/2023 & ITA 421/2023: These appeals related to AY 2015-16 and AY 2016-17 were brought before the court by the appellant/revenue against the orders passed by the Income Tax Appellate Tribunal (Tribunal). Prior Court Decision: The appeals were correctly contextualized with a prior court ruling from 2010, Lachman Dass Bhatia Vs. Assistant Commissioner of Income Tax, that affected the way these appeals were to be handled. 2. Counsel Arguments and Legal Precedents: Assessment Year 2017-18 Reference: In IT...