Delhi HC ruled reassessment under Section 147 is not valid post-closure of Section 143 proceedings if income underassessment results from AO error, not assessee fault.
Delhi High Court held that once the nature and source of receipts have been satisfactorily explained/proved and AO has not contradicted the explanation/information given by the assessee, there lies no cause for initiating the reassessment action.
Additionally, the assessee had also entered into transaction for IT support services for a value of ₹1,61,29,274/- in respect of purchase of computer hardware components. AO made a reference to the TPO for determining/verifying the ALP.
This would lead one to the inescapable conclusion of no perceivable or plausible tax liability possibly being created. Consequently, the proceedings initiated in terms of the impugned SCNs‟ and their continuance would be futile and impractical.
Delhi HC modifies cancellation date of GST registration for Deepali Kapoor, ruling against retrospective effect. Registration now cancelled from 03.02.2023.
Delhi High Court directs GST cancellation for Green Work Metal to take effect from 16.01.2021, revising the previous order that set it retroactively to 11.09.2017.
Delhi HC quashes Sales Tax Officer’s 2024 order related to tax period 2018-19, citing overlap with prior 2021 decision, and grants relief to Jain Cement Udyog.
Delhi High Court rejects Revenue’s plea for condonation of 880-day delay in re-filing an income tax appeal against Anil Bhalla.
Delhi High Court dismisses JV Creatives’ petition against provisional attachment under Section 83 of CGST Act, citing revenue protection.
Delhi High Court remands Alcatel Lucent’s transfer pricing case to ITAT, questioning selection of comparables in ALP determination. Detailed review of objections awaited.
