Delhi High Court held that supply of helicopters to Andaman and Nicobar Islands Administration without transfer of right to use not exigible to tax under section 2(g)(vi) of the Central Sales Tax Act, 1956 [CST Act].
Delhi High Court held that levy of Integrated Goods and Services Tax (IGST) on ocean freight is unconstitutional. Accordingly, directed department to refund service tax paid on ocean freight during April to June 2017.
The assessee had adopted Transactional Net Margin Method (TNMM) as the most appropriate method and Operating Profit/ Operating Cost [OP/OC] as the Profit Level Indicator for benchmarking the international transactions.
Delhi High Court held that AO has erroneously added value of transaction while calculating income that could possibly have escaped assessment. Accordingly, order set aside and matter remanded back to AO for fresh consideration.
Delhi High Court held that non-issuance of notice under section 143(2) of the Income Tax Act is in grave contradiction to section 292BB of the Income Tax Act. Accordingly, revenue appeal dismissed.
In a recent ruling Delhi HC remanded the proceedings to the AO to consider the Assessee’s alternate claim for loss arising out of the HTM securities, as loss under the head ‘income from business and profession.
Delhi High Court held that recourse to Rule 8D of Income Tax Rules for computing disallowance u/s. 14A not allowable since assessee’s computation of expense attributable to earning exempt income not found inadequate.
Delhi High Court held that order lacking reasons and also lacking application of mind to the reply furnished by the petitioner is liable to be quashed. Accordingly, order passed under GST quashed.
Delhi High Court held the gold jewellery in the form of ornaments worn by the foreign tourist would not qualify for seizure under Rule 3 of the Baggage Rules, 2016. Thus, the detention receipt is accordingly quashed.
Delhi High Court held that validity of reassessment under section 148 of the Income Tax Act has to be determined based on original reasons disclosed to the assessee. Such reasons cannot be improved upon subsequently.
