Delhi High Court held that difference between purchase price of Stock Appreciation Right and the sale price at the time of exercise by the employees, holding the same to be revenue loss allowable as business deduction as expenditure incurred as per SEBI guidelines.
Delhi High Court held that as per Article 12 of India-Ireland DTAA revenue receipt from aircraft leasing is outside the purview of taxation. Thus, it is impermissible to invoke section 9(1)(vi) in light of express exemption under DTAA.
Delhi HC directs GST department to provide requested documents to petitioner for appeal purposes in case Nishant Tandon Vs Commissioner. Legal matter involves GST registration.
Assessee claimed that in section 14A, the disallowance of expenditure even if computed in accordance with Rule 8D could not exceed the exempt income earned in that year.
Delhi High Court held that initiation of customs recovery proceedings against a dead person is unsustainable and liable to be quashed. Accordingly, recovery proceedings quashed.
Delhi High Court held that reinitiating of reassessment action u/s. 148 of the Income Tax Act on the same set of reasons on which assessment proceedings had already been concluded is unjustified and hence liable to be set aside.
Delhi HC overturns GST demand order due to erroneous tax calculation, remanding the case for reconsideration after hearing the petitioner.
Reopening of assessment was initiated before the lapse of four years, and there was no scope for interference with the Income Tax authorities’ reopening decision if escapement income was found.
Delhi HC remands GST cancellation case for reconsideration due to portal glitch, requiring personal hearing and fresh assessment by Adjudicating Authority.
Delhi HC grants Chintamani Sharma & Sons 6 weeks to submit documents for Rs. 50 lakh DGFT penalty, citing DRI’s role in delayed submission.
