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Section 153C Notices Quashed Without AY-Specific Incriminating Material — Delhi High Court in Ashutosh Agarwal vs ACIT (Central Circle-28), WP(C) 992/2024 & Connected Matters (09 April 2024)
Facts of the CaseA batch of writ petitions challenged notices issued under
Section 153C of the Income Tax Act, 1961 to assessees who were not subjected to
the original search. The petitioners contended that no incrimin...
Delhi High Court on Section 153C: Notices Invalid Without AY-Specific Incriminating Material — Ashutosh Agarwal vs ACIT (Central Circle-28), WP(C) 992/2024 & Connected Matters (2024)
Facts of the CaseThe batch of writ petitions challenged notices issued under
Section 153C of the Income Tax Act, 1961 to various assessees who were not the
searched persons. The petitioners contended that no incriminat...
Section 68 Additions Unsustainable When Identity, Creditworthiness & Genuineness Proved: Delhi High Court Dismisses Revenue Appeal in PCIT-9 v. Topline Buildtech Pvt. Ltd. (2024)
Facts of the CaseThe Revenue filed an appeal under Section 260A of the Income
Tax Act, 1961 challenging the order dated 13.04.2018 of the Income Tax
Appellate Tribunal (ITAT) for Assessment Year 2013-14.The respondent-...
ACIT, Allahabad vs. Mr. Denzil Richard Innis, St. John’s Co-Ed School (ITAT Allahabad): Revenue Appeals Dismissed on Low Tax Effect under CBDT Circular No. 3/2018 — Section 268A of the Income-tax Act
Facts of the CaseThe Revenue filed multiple appeals before the
Income Tax Appellate Tribunal, Allahabad challenging the orders passed by the
Commissioner of Income Tax (Appeals), Allahabad in respect of the block...
Interest from Head Office to Indian Branch Not Taxable: Delhi High Court Applies “No Profit from Self” Principle in CIT (IT)-3 v. Bank of Tokyo-Mitsubishi UFJ Ltd. (2024)
Facts of the CaseThe Revenue challenged the order of the Income Tax Appellate
Tribunal dated 30 January 2018 concerning Assessment Year 2003-04. The dispute
centered on whether interest received by the Indian Permanent...
No Writ Relief When Adequate Opportunity Given: Delhi High Court Upholds Section 153C Assessment in Sunita Goel v. DCIT Central Circle-1 (2024)
Facts of the CaseThe petitioner challenged the assessment order dated
22.04.2021 passed under Section 153C of the Income Tax Act, 1961 for Assessment
Year 2014-15, whereby ₹1,62,20,000 was added to her income.The pet...
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
...