The action for reassessment which was commenced pursuant to the Section 148A(b) notice dated 27 May 2022 could not be countenanced and was liable to be quashed as there were no reasons underlying the formation of opinion that income had escaped assessment.
Delhi High Court granted bail in excise policy case as ED case is documentary in nature and all the documents are collected and there is no likelihood of his tampering with the witnesses or influencing the witnesses.
Delhi High Court held that rental income earned from factory building it taxable under the head Income from house property and is eligible for deduction under provisions of section 24 of the Income Tax Act.
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.
