Delhi High Court

Additional depreciation cannot be denied to an entity engaged in business of generation and distribution of power

Pr. CIT Vs NTPC Sail Power Co. Pvt. Ltd. (Delhi High Court)

Pr. CIT Vs NTPC Sail Power Co. Pvt. Ltd. (Delhi High Court) Electricity is capable of abstraction, transmission, transfer, delivery, possession, consumption and use like any other movable property. Following the same logic, to deny the benefit of additional depreciation to a generating entity on the basis that electricity is not an ‘...

Read More

Authority of ICAI only can evaluate Professional misconduct of member and not the Appellant-company

Wholesale Trading Service Pvt. Ltd. Vs ICAI (Delhi High Court)

Wholesale Trading Service Pvt. Ltd. Vs ICAI (Delhi High Court) Conclusion: Since Appellant-company was carrying on the activity of filing and pursuing complaints against various Chartered Accountants as an organised activity, independent of the objects for which it was incorporated, therefore, it was held that litigants, such as assessee,...

Read More

No Professional misconduct if auditor not obtains NOC from auditor prior to existing auditor

SSAY & Associates Vs ICAI (Delhi High Court)

Ssay & Associates Vs ICAI (Delhi High Court) Conclusion: Since the accounts filed with the Registrar of Companies for the years 2006-07 to 2008-09, that is, for the three years prior to the period for which KNA was appointed, had been audited by M/s Manu Sharma and Co. and therefore, there was no necessity for […]...

Read More

HC imposes penalty on a company for filing various frivolous petitions against CA / CA Firms

Wholesale Trading Services P Ltd. Vs ICAI (Delhi High Court)

Wholesale Trading Services P Ltd. Vs ICAI (Delhi High Court) Before concluding, it is also relevant to note that the petitioner has been filing various petitions before this Court in respect of complaints made before ICAI, despite having no particular interest in the matter. As noticed above, the petitioner has no connection or dealing wi...

Read More

Delhi HC upholds Vires of FCRA 2010; CBI can Investigate

M/s Advantages India & Anr Vs Union of India & Ors (Delhi High Court)

M/s Advantages India & Anr Vs Union of India & Ors (Delhi High Court) This Court is of the opinion that there is a principle and/or policy for guidance of exercise of discretion by the Government in the matter of selection of an investigative agency and there is no arbitrary, vague and uncontrolled power with […]...

Read More

Rule 8D not applicable if AO not recorded satisfaction

Pr. CIT Vs Vedanta Limited (Delhi High Court)

Pr. CIT Vs Vedanta Limited (Delhi High Court) It is apparent that the Assessing Officer without examining, commenting and rejecting the disallowance made by the respondent-assessee had applied Rule 8D as compulsory and universally applicable rule where the assessee has earned exempt income. However, Rule 8D cannot be invoked and applied u...

Read More

Delay in filing of TDS refund due to inadvertence of auditor is Bonafide mistake

G. V. Infosutions Pvt. Ltd. Vs DCIT (Delhi High Court)

G. V. Infosutions Pvt. Ltd. Vs DCIT (Delhi High Court) The rejection of the petitioner’s application under Section 119(2)(b) is only on the ground that according to the Chief Commissioner’s opinion the plea of omission by the auditor was not substantiated. This court has difficulty to understand what more plea or proof any assessee co...

Read More

DGAP cannot suo motu issue a notice requiring a company to submit information on all its products

Reckitt Benckiser India Private Limited Vs Union of India (Delhi High Court)

Reckitt Benckiser India Private Limited Vs Union of India (Delhi High Court) Grievance of the Petitioner is that Director General of Anti Profiteering (DGAP) has by the impugned notice dated 8th/9th April, 2019 sought information on all products of the Petitioner. In this context, he has referred to the recent amendment by which Sub-Rule ...

Read More

Section 264 Revision petition maintainable against Section 143(1) intimation

M/s. EPCOS Electronic Components S. A. Vs Union of India (Delhi High Court)

M/s. EPCOS Electronic Components S. A. Vs Union of India (Delhi High Court) The next issue is whether the intimation under Section 143(1) of the Act was prejudicial to the interest of the Assessee. It must be noted here that although the tax calculated as payable in the return filed and accepted by the Department […]...

Read More

Section 14A- Invocation of rule 8D without recording satisfaction

Pr. CIT Vs DLF Home Developers Ltd (Delhi High Court)

Invocation of rule  8D of Income Tax Rules without recording satisfaction as to non-correctness of assessee’s claim of suo motu disallowance under section 14A of Income Tax Act, 1961, was in contravention of provisions of section 14A(2), therefore, additional disallowance was deleted....

Read More

Browse All Categories

CA, CS, CMA (4,289)
Company Law (5,005)
Custom Duty (7,381)
DGFT (3,997)
Excise Duty (4,257)
Fema / RBI (3,832)
Finance (4,009)
Income Tax (30,755)
SEBI (3,191)
Service Tax (3,470)