Delhi High Court

Locker search warrant and proceedings u/s 153A can be quashed if authority failes to prove that such locker contains undisclosed income

Shah-E-Naaz Judge Vs. Addl. DIT (Inv) (Delhi High Court)

Shah-E-Naaz Judge Vs. Addl. DIT (Inv) (Delhi High Court) Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132 (1) of the Act are satisfied. Constitutional validity of the said provision has b...

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Incidence of CST or sale of goods, occurs where goods are appropriated to contract

Commissioner of Value Added Tax Vs OTIS Elevator Company (India) Ltd. (Delhi High Court)

Commissioner of Value Added Tax Vs Otis Elevator Company (India) Ltd. (Delhi High Court) The placement of an order by the agent for procurement of the lifts, in this case, was merely an offer. It is only upon its acceptance and further steps taken by the supplier that an offer crystallizes into a binding promise […]...

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Penalty U/s. 271B justified for submitting Bogus audit report to get bank loan

Brij Gopal Chauhan Vs. ITO (Delhi High Court)

 Where assessee, in order to get a bank loan, submitted a bogus audit report from CA and showed fake turnover in his return of income, imposition of penalty under section 271B for non-compliance of section 44AB was justified....

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Validity of addition for share application money merely based on surmises not valid

Pr. CIT Vs Narang Construction & Finance (P) Ltd. (Delhi High Court)

Pr. CIT Vs Narang Construction & Finance (P) Ltd. (Delhi High Court)  The materials on record showed not mere superficial details like PAN, ROC, etc., but further facts relating to the bank accounts of the share applicants were also there. The share applicants were entering into proper commercial transactions and were not per se fo...

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In absence of Reasons for invoking rule 8D Disallowance U/s. 14A not valid

Pr. CIT Vs Moonstar Securities Trading & Finance Co. (P) Ltd. (Delhi High Court)

Pr. CIT Vs Moonstar Securities Trading & Finance Co. (P) Ltd. (Delhi High Court) In this case for both years, the assessee had offered amounts as disallowance claiming them to be expenditure for tax exempt income. The assessing officer merely proceeded to reject such amount as expenditure and straightaway applied rule 8D without adduc...

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NCLT Has Jurisdiction Over Issues Related to Insolvency – Delhi HC

Liberty House Group Pte Ltd Vs State Bank of India & Ors. (Delhi High Court)

National Company Law Tribunal shall have jurisdiction to entertain or dispose of any question of law or facts, arising out of or in relation to the insolvency resolution or liquidation proceedings of the corporate debtor or corporate person under the Code...

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No Penalty when expenses disallowed were otherwise allowable in next year

Granite Gate Properties (P.) Ltd. Vs PCIT (Delhi High Court)

The relevant clauses of AS-7, applicable Guidance Notes, the fact that the accounts were duly audited and the disclosures made in the audit notes, the loss income as declared, small taxable income as assessed even after the additions were made and that the expenses as claimed were otherwise eligible and allowed in the next assessment year...

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No Disallowance under section 14A in Absence of exempt income

PCIT Vs IL&FS Energy Development Company Ltd. (Delhi High Court)

No disallowance of expenditure in terms of section 14A read with rule 8D can be made in case where no exempt income is earned in the relevant assessment year....

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GE overseas group companies having PE & DAPE in India, liable to tax in India

GE Energy Parts Inc Vs Commissioner Of Income Tax (Delhi High Court)

Assessee-GE group had carried out business through PE in India and GE India constituted DAPE in India for all overseas GE Group entities as LO were discharging vital responsibilities relating to finalization of commercial terms and a prominent involvement in the contract finalization process....

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Reassessment based on subsequently amended Provisions is invalid

Brahm Datt Vs ACIT (Delhi High Court)

Brahm Datt Vs ACIT (Delhi High Court) CONCLUSION – Re-assessment not tenable in law in as much as the same is barred by limitation. Any subsequent amendment in the re-assessment provisions, if not specifically mentioned, are presumed to be prospective and hence not applicable in the present case. FACTS – Petitioner, a senior citizen, ...

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