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Depreciation on Bank Securities, Pension Fund Contribution and Section 14A Disallowance Covered by Earlier Decisions; No Substantial Question of Law: PCIT-7 vs. Punjab and Sind Bank (Delhi HC)
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income-tax Act challenging the order dated 07.02.2024 passed by the Income
Tax Appellate Tribunal in ITA No. 8688/Del/2019 for Assessment Year 201...
Reassessment Beyond Three Years Invalid Where Alleged Escapement Below ₹50 Lakh and Not Linked to Single Asset or Event; Section 149(1A) Misapplied: Mohd Athar Anjum vs. ACIT (Delhi HC)
Facts of the
CaseThe petitioner, Mohd Athar Anjum, filed his return
of income for Assessment Year 2018-19 on 21.11.2018 declaring total income of
₹19,11,290. A survey under Section 133A was conducted on 01.09.2022 i...
Section 148 Notice Barred Where Escapement for Relevant AY Below ₹50 Lakh; Cumulative Addition Across Years Not Permissible under Section 149: L-1 Identity Solutions vs. ACIT (Delhi HC)
Facts of the
CaseThe petitioner, L-1 Identity Solutions Operating
Company Private Limited, is a company engaged in providing services to its
foreign associated enterprises. During the period 21.03.2023 to 25.03.2023,
...
Order under Section 148A(d) Cannot Travel Beyond Information in Section 148A(b) Notice; Reassessment Quashed for Violation of Natural Justice: J.G.’s Departmental Store vs. ITO (Delhi HC)
Facts of the
CaseThe petitioner, J.G.’s Departmental Store, is a
partnership firm engaged in operating a chain of departmental stores in Delhi,
with more than 90% of its sales being cash sales. For Assessment Year 2...
Assessing Officer Cannot Sit in Appeal over CIT(A); Order Giving Effect Cannot Be Used to Revisit Merits on Strength of Subsequent Supreme Court Judgment: Goodrich Carbohydrates Ltd. vs. ACIT (Delhi HC)
Facts of the
CaseThe petitioner, Goodrich Carbohydrates Ltd., filed
its return of income for Assessment Year 2017-18 on 30.10.2017 declaring total
income of ₹2,26,85,350. The case was selected for scrutiny and asses...
Reassessment Quashed for Lack of Tangible Material to Establish Permanent Establishment in India; Survey Findings of Group Entity Insufficient: GE Renewables Grid LLC vs. ACIT (Delhi HC)
Facts of the
CaseThe petitioner, GE Renewables Grid LLC, formerly
known as Alstom Grid Inc./Alstom Grid LLC, is a company incorporated in the
United States of America and is not a tax resident of India. It is engaged ...
Delay of One Month in Filing Form 10B Due to Genuine Hardship Must Be Condoned under Section 119(2)(b); Exemption Cannot Be Denied on Technical Lapse: FIITJEE Foundation vs. CIT (Exemption) (Delhi HC)
Facts of the
CaseThe petitioner, FIITJEE Foundation for Education
Research and Trainings, is a charitable organisation consistently availing
exemption under Sections 11 and 12 of the Income-tax Act. For Assessment Yea...
Reassessment and Faceless Assessment Quashed for Want of Valid Sanction under Section 151 and Limitation under Section 149: CPI (Marxist) vs. Income Tax Department (Delhi HC)
Facts of the
CaseThe petitioner, Communist Party of India (Marxist),
is a national political party registered under Section 29A of the
Representation of the People Act, 1951. For Assessment Year 2016-17, it filed
its...
Reasonable Salary Paid to Related Trustee Does Not Violate Section 13(1)(c); Exemption under Sections 11–12 Cannot Be Denied: CIT (Exemption) vs. IILM Foundation (Delhi HC)
Facts of the
CaseThe respondent, IILM Foundation (formerly Ram
Krishna Kulwant Rai Charitable Trust), is a charitable trust registered under
Section 12A of the Income-tax Act and engaged in imparting education through...
Addition on Alleged Gifts of Artwork Set Aside; Estimation Without Valuation and Rejection on Surmises Impermissible – Rohit Gandhi vs. ITO (Delhi HC)
Facts of the
CaseThe assessee, Rohit Gandhi, an individual and
Director of M/s Cue Apparel Private Limited, was subjected to a search under
Section 132 of the Income-tax Act, 1961 at his residential premises. During t...