Income Tax : Delhi High Court overturns order in Interglobe Enterprises vs. PCIT case, ruling that ₹1.51 crore interest income cannot be taxe...
Income Tax : Delhi HC clarifies the wide scope of Section 264 of the Income Tax Act, emphasizing that the Commissioner must address errors lead...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
Delhi High Court overturns order in Interglobe Enterprises vs. PCIT case, ruling that ₹1.51 crore interest income cannot be taxed twice. Case remanded for reassessment.
Delhi HC clarifies the wide scope of Section 264 of the Income Tax Act, emphasizing that the Commissioner must address errors leading to over-assessment, even if raised for the first time in a revision application.
Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxation, such mistake can be rectified via revision application under section 264 of the Income Tax Act.
