Delhi High Court

Depreciation on Assets held under lease in the nature of Purchase

CIT Vs M/s Bhushan Steels & Strips Ltd. (Delhi High Court)

Whether the assessee is entitled to depreciation under Section 32 of the Income Tax Act even when the assessee was not the owner of the property in question and was in possession thereof as a lessee during the year under consideration?...

Read More

Brand Licensing Expenses allowed As Business / Revenue Expenses

Pr.CIT Vs. Nitrex Chemicals India Ltd. (Delhi High Court)

Whether payments made by the assessee to its holding company Nitrex Chemicals India Ltd for the use of its trademark and for the purpose of obtaining expertise in commerce, finance,manufacturing etc. amounted to revenue expenditure instead of capital expenditure?...

Read More

Section 80IA Incidental income of telecom business, eligible for deduction

Pr. CIT vs. Bharat Sanchar Nigam Ltd. (Delhi High Court)

Assessees engaged in providing telecom services deduction u/s 80IA shall be allowed in respect of even those incidental incomes earned during the course of telecom business...

Read More

No infringement of copyright on Photocopy of copyrighted study material for educational activities

The Chancellor, Masters & Scholars of The University Of Oxford & Ors. Vs. Rameshwari Photocopy Services & Anr. (Delhi High Court)

HC held that photocopying the selected or even substantial parts of purchased books by the University to be used by the students and teachers in educational activity shall not be infringement of copyright as per Sec 52(1)(i)....

Read More

Information which is otherwise available in public domain cannot be considered as confidential

M/s. Stellar Information Technology Private Ltd Vs. Mr Rakesh Kumar & Ors (Delhi High Court)

Delhi HC in the above cited case held that an employee cannot be restrained from competing with its former employer provided he/she is not using the confidential information of employer....

Read More

Failure of CA to investigate transactions in depth is gross negligence in performing professional duties

Delhi HC held that a Chartered Accountant while doing concurrent audit is expected to check the transactions falling within the scope of audit in depth. Thus, non-checking of the same would be gross negligence on his part while performing professional duties.Accordingly, he is liable to face the charge of professional misconduct under cla...

Read More

Threatening letter to initiate legal proceedings if dues not paid is professional misconduct

Council of the Institute of Chartered Accountants of India (ICAI) vs. Mahesh Kumar Gupta (Delhi High Court)

Delhi HC held that threating letter issued by professional with reminder of unpaid professional dues is unethical conduct which is not expected by members of a civil society to be committed by a professional like that of Chartered Accountant who is looked upon by the society as a dignified professional....

Read More

Every act of a CA cannot be termed as act in professional capacity

Council of the Institute of Chartered Accountants of India vs. Gurvinder Singh (Delhi High Court)

A CA may drive rashly and negligently and in the process may kill a human being. This conduct would be an offence, but not a misconduct for the purposes of the Act Similarly , in the instant case , the respondent was acting as an individual in his dealings with the complainant which were purely commercial. While selling the shares held by...

Read More

Income from licensing of factory premises taxable as business income if assessee intend to treat so

Agya Ram vs. CIT (Delhi High Court)

Delhi High Court in the case of Agya Ram vs. CIT held that there is difference between lease income and license income and when the deed of agreement specifically worded that income will be license income for assessee’s factory premises given on rent then the treatment made by the assessee of considering the same as business income to b...

Read More

Assessment proceedings invalid against company which got amalgamated with other company on a date prior to search

CIT vs. Indu Surveyors & Loss Assessors P. Ltd. (Delhi High Court)

High court held that assessment proceedings to be invalid against the assessee in those cases where the assessee ceased to have legal existence on account of amalgamation with another entity on a date even prior to search. Because when the assessee ceased to have existence even on the date of search, no notice as a result of search can ...

Read More

Browse All Categories

CA, CS, CMA (4,379)
Company Law (5,181)
Custom Duty (7,494)
DGFT (4,055)
Excise Duty (4,280)
Fema / RBI (3,904)
Finance (4,055)
Income Tax (31,281)
SEBI (3,251)
Service Tax (3,483)