CA Deepak Aggarwal - Page 3

Reopening based on factual inadvertent error not sustainable

Dr. Ajit Gupta Vs ACIT (Delhi High Court)

Reason for reopening of the assessment was a mistaken factual premise that the Assessee had changed the system of accounting from the mercantile to the cash system. It was more than adequately explained by the Assessee that this was an inadvertent error....

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Pre amendment too S. 201(3) Proceeding Initiation restricted to 4 years

Vodafone Essar Mobile Services Limited & others Vs Union of India (International Taxation) (Delhi High Court)

As per amendment, the time limit for initiation of proceedings for assessee in default is four years from the end of the financial year in which payment is made or credit is given. It is proposed to make these amendments effective from 1st April, 2010 i.e. there was no time limit mentioned before this amendment....

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Reopening to tax royalty as PE business income is change of opinion

Oracle Systems Corporation Vs DIT (International Taxation) (Delhi High Court)

It is a settled law that reopening based on change in opinion is not permitted. In the current case, revenue does not discovered another concealed permanent establishment but wanted to link the royalty received by the Petitioner by applying the principle of force of attraction to business income of PE in India. ...

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Sec. 271(1) (c)-Penalty for false claim confirmed – Delhi HC

Roger Enterprises Pvt. Ltd. Vs CIT (Delhi High Court)

Finding of the ITAT that no material was placed on record by the Assessee to demonstrate the nature of service rendered by the three companies to whom the commission was paid has been concurrently upheld by this Court....

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Notice can't be issued to dissolved company under amalgamation

M/S Rustagi Engineering Udyog Pvt. Ltd. Vs Dy. Commissioner Of Income Tax (Delhi High Court)

Delhi High Court held that It is well settled that the in a case of amalgamation, the amalgamating company would stand dissolved from the date on which the amalgamation/transfer takes effect. In a recent decision dated 3rd August, 2015 in ITA No. 475/2011 SPICE Infotainment Ltd. v. Commissioner of Income Tax...

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Sec. 41(1)-Cessation of liability on capital account not taxable

Principal CIT Vs M/s Tinna Finex Ltd. (Delhi High Court)

The loan transactions were on the capital account and the writing off the loan was also on capital account and did not find place in the Profit and Loss Account. Apart from this it has been found as a matter of fact that the assessee had not got the benefit of any allowance or deduction in the assessment for any prior year in respect of ...

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S.144C-Draft assessment order can be issued only to eligible assessee

Honda Cars India Limited Vs DCIT (Delhi High Court)

Delhi High Court held In the case of Honda Cars India Limited vs. DCIT that Since the petitioner is not an eligible assessee in terms of Section 144C(15)(b), no draft order can be passed in the case of the petitioner U/s. 144C(1). Section 144C (15)(b) of the Act defines an “eligible assessee”...

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Revenue expenses allowed despite different treatment in books

Reliance Wellness Ltd. Vs DCIT (ITAT Mumbai)

ITAT Mumbai held in the case of Reliance Wellness Ltd. vs. DCIT that treatment given in the books of account is not relevant to examine the claim put forth by the assessee. In this case Assessee was in the process of expansion of its business operations by opening various new shops...

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Sec.158BA/158BC- Addition based on estimation not sustainable

CIT Vs Vatika Landbase Pvt. Ltd. (Delhi High Court)

Court explained that the assessment for the block period can only be done on the basis of evidence found as a result of search or requisition of books of account or documents and such other materials or information as are available with the Assessing Officer....

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Notice issued to a deceased assessee is illegal – Delhi HC

Vipin Walia Vs ITO (Delhi High Court)

Revenue was to initiate proceedings under Section 147 against the deceased Assessee for AY 2008-09. The limitation for issuance of the notice under Section 147/148 was 31st March 2015. On 27th March 2015, when the notice was issued, the Assessee was already dead. ...

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September 2021