Delhi High Court

Block Assessment: Additions not based on Incriminating Material found during search is not valid

Commr.Of Income Tax, Delhi (Central-I) Vs. Pinaki Misra & Anr (Delhi High Court)

On the question of law presently before the court, the primary consideration is whether the AO had the jurisdiction to make the additions to the assessment under section 158BC of the Act. To analyze this, it is necessary to address the grounds of each such addition made, and assess if the AO had jurisdiction in conducting the block assess...

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Discount on Commerical Papers and Interest on Non-Convertible Debentures are Allowed as Business Expenses

Commissioner of Income tax-I Vs Amar Ujala publication Limited (Delhi High Corut)

All the funds available at that point of time of merger, available with the respondent / assessee were, in the course of the year, deployed in the business of the respondent / assessee. Thus, AO could not have disallowed discount on commercial paper and interest on Non-Convertible Debentures....

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ITAT has wide powers to call for records / examine the records and Such powers cannot be curtailed: HC

Principal Commissioner of Income-Tax Vs. Income-Tax Appellate Tribunal & Anr. (Delhi High Court)

Delhi High Court dismisses writ petition filed by Revenue and held that Income Tax Appellate Tribunal being an appellate body has wide powers to call for records/examine the records. Such powers cannot be curtailed and the Revenue cannot refuse to produce the records. The Revenue claims to be aggrieved by the direction of the Income [&hel...

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In absence of any material seized during search, Revenue cannot seek afresh examination of the valuation of the property

Principal Commissioner of Income Tax (Central) Vs. Smt. Anita Rani (Delhi High Court)

Court is of the opinion that there is no infirmity with the ITAT order which essentially held that the valuation by the banker, who provided credit could well be different from the valuation report for the transaction given that the assessee had purchased the property long ago. In other words, the absence of any material […]...

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CA guilty of professional misconduct for failure to report suspicious book entries

Council of The Instt. Of Chartered Accountants Of India Vs. CA G S Johar & Anr. (Delhi High Court)

Suffice it to highlight that in paras 26 and 27 of the report the Committee highlighted the modus operandi adopted by PCL and AIL to form a loop with no cash flow coming in, but sales, stocks and receivables increases. The obligation of the auditor concerning transactions which are merely book entries was highlighted i.e. […]...

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No TDS on Long term Lease Rent / Interest / other Payments for Plot Lease paid to GNOIDA

Rajesh Projects (India) Pvt. Ltd Vs CIT (TDS) (Delhi High Court)

This common judgment will dispose of a batch of writ petitions. They were heard together as they involve identical questions of fact and law as to the correct interpretation of Section 194-I of the Income Tax Act [hereafter the Act]....

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Goods used in Rail cleaning does not amount to transfer to Railways

VPSSR Facilities Vs Commissioner of Value Added and ANR. (Delhi High Court)

The petitioner (Contractor) impugns the order dated 30.06.20 14 passed by the Commissioner Valued Added Tax holding that the chemicals/Solvents used in the process of cleaning, amounted to sale of goods and the moment the chemicals were poured on the property of the Contractee, even though used for the purposes of cleaning, amounted to de...

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Sec. 14A No attribution of expense for exempted income earned without employee interference

Pradeep Khanna Vs ACIT (Delhi High Court)

If tax exempted income was earned without interference of any employee but rather through solicitation and advertisement of bank the question of attributing any expenditure cannot arise at all....

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CA in practice cannot run Business via Companies, Trusts & Firms

Council of Instt. of Chartered Accountants of India Vs Subodh Gupta & anr. (Delhi High Court)

The Institute of Chartered Accountants has made the instant Reference under Section 21(5) of the Chartered Accountants Act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-Section (4) of Section 21....

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No Service Tax on fees paid for grant of Airport Management to AAI

Delhi International Airport P. LTD. Vs Union of India & ORS (Delhi High Court)

As there is no representational right conferred by AAI on the petitioners, the OM DA cannot constitute a franchise in terms of Section 65(47) of the Finance Act. Further as no service is being provided by AAI to the petitioners, there cannot be said to be any taxable service in terms of section 65(105) (zze)....

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