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ESOP Compensation Without Exercise Not Taxable as Salary: Delhi High Court Allows Nil TDS Claim in Sanjay Baweja v. DCIT (TDS) (2024)
Facts of the CaseThe petitioner, a former employee of Flipkart Internet Private
Limited, challenged an order dated 15.07.2023 passed under Section 197 of the
Income Tax Act, 1961 rejecting his application for a Nil Tax...
Assessment by Non-Jurisdictional AO Invalid Without Section 127 Transfer Order: Delhi High Court Quashes Proceedings in Raj Sheela Growth Fund Pvt. Ltd. v. ITO Ward-21(1) (2024)
Facts of the CaseThe principal issue before the Delhi High Court was whether a
non-jurisdictional Assessing Officer could proceed with assessment proceedings
in the absence of a transfer order under Section 127 of the ...
Vivad se Vishwas Benefit Allowed Even Without Pending Appeal: Delhi High Court in PT Bukaka Teknik Utama v. CIT (IT), Delhi-2 (2024)
Facts of the CaseThe petitioner, an Indonesian entity, challenged the rejection
of its declaration under the Direct Tax Vivad se Vishwas Act, 2020 (DTVSV Act).
For Assessment Year 2010-11, the petitioner had filed its ...
Prakash & Co. vs. ACIT (ITAT): Tribunal Adjudicates Revenue Appeals and Assessee’s Cross-Objections on Additions and Appellate Relief under the Income-tax Act
Facts of the
CaseThe matter arose from assessment proceedings in
which the Assessing Officer made certain additions to the income of the
assessee, Prakash & Co. The assessee challenged these additions before the
...
Indian Subsidiary Not a Permanent Establishment: Delhi High Court Quashes Reassessment Notices in Progress Rail Locomotive Inc. v. DCIT (International Taxation) (2024)
Facts of the CaseThe writ petitions challenged reassessment notices issued
under Section 148 of the Income Tax Act, 1961 for Assessment Years 2012–13 to
2018–19 to Progress Rail Locomotive Inc. (formerly Electro Mo...
ITO (Exemption) Allahabad vs Hindi Sahitya Sammelan, Allahabad — ITAT Allahabad on Accumulation of Income Without Form 10, Compliance under
Facts of the
CaseThe assessee, a registered
educational and charitable society, reported substantial gross receipts during
the relevant assessment year. After incurring revenue expenditure and capital
spending, the s...
Interest on Refund of Cancelled Auction Deposit Is Capital Receipt, Not Taxable: Delhi High Court in PCIT-4 v. INS Finance & Investment Pvt. Ltd. (2024)
Facts of the CaseThe central issue before the Delhi High Court was whether
interest received by the assessee on the principal amount deposited in an
auction—which was subsequently annulled—constituted a capital rec...
Sanjiv vs. ACIT (ITAT): Tribunal Decision on Assessment Additions and Appellate Relief — Findings under Relevant Provisions of the Income-tax Act
Facts of the CaseThe assessee, Sanjiv, was subjected to assessment
proceedings in which the Assessing Officer made certain additions to the
declared income. The assessee challenged these additions before the
Commissio...
Insurance Claim Provisions & IBNR Are Ascertained Liabilities: Delhi High Court Upholds Deduction in PCIT-1 v. Care Health Insurance Ltd. (2024)
Facts of the CaseThe Revenue challenged the order of the Income Tax Appellate
Tribunal (ITAT) which had deleted disallowances made by the Assessing Officer
in respect of provisions for unsettled claims and “Incurred ...
Section 68 Additions in Search Case Invalid Without Incriminating Material & Cross-Examination: Delhi High Court in PCIT (Central)-3 v. Pavitra Realcon Pvt. Ltd. (2024)
Facts of the CaseThe Revenue filed appeals challenging the order dated 04
October 2017 passed by the Income Tax Appellate Tribunal (ITAT) for Assessment
Year 2011–12 concerning M/s Pavitra Realcon Pvt. Ltd., along wi...