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395 ITR

Section 221, Sec. 2(43), Section 2

Bombay H.C : The ITAT is justified in holding the penalty u/s.221(1) is to be imposed in respect of only the tax excluding interest u/s.234A, 234B & 234C without appreciating that section 221(1) does not contain any such condition that the penalty imposed under the said section should be a percentage of only the tax excluding the interest.

Avijit Das / July 1, 2017

High Court Of Bombay CIT-8 Vs. Oryx Finance & Investment (P.) Ltd., Mum. Section 221, 2(43) S.V. Gangapurwala And G.S. […]

Sec. 37(1), Section 37

S.C : Where a new business was set up with technical know-how provided by a Japanese company and lump sum royalty was paid therefor, expenditure in form of royalty paid would be in nature of capital expenditure and not revenue expenditure

Avijit Das / June 9, 2017

Supreme Court Of India Honda Siel Cars India Ltd. vs. CIT, Ghaziabad Section : 37(1) Assessment years 1999-2000, 2001-02 to

Sec. 43(1), Section 147

Delhi H.C : Where in earlier years capitalisation of professional and legal charges for business transfer and depreciation claim on same was initially disallowed being not as per section 43(1), but ultimately said claim was allowed, revenue being aware of same, could not initiate reassessment for current year on same ground

Avijit Das / May 30, 2017

High Court Of Delhi Avtec Ltd. vs. DCIT Section : 43(1), 147 Assessment Years : 2008-09 to 2010-11 Dr. S.

Delhi H.C : A person can be in possession of undisclosed income not only in his or her own account but also in someone else’s account; pursuant to search warrant in name of him/her, department could proceed to search and seize in accounts of such other person and require bank to freeze such account

Avijit Das / May 29, 2017

High Court Of Delhi Strategic Credit Capital (P.) Ltd. vs. Ratnakar Bank Ltd. Section : 132 Dr. S. Muralidhar And

Section 68, Section 147

Delhi H.C : Whether the ITAT erred in law and on facts in quashing the assessment proceedings under Section 147/148 of the Act?

Avijit Das / May 26, 2017

High Court Of Delhi Pr.CIT-6 vs. Meenakshi Overseas (P.) Ltd. Section 68, 147 Assessment year 2004-05 Dr. S. Muralidhar And

Delhi H.C : Invocation of section 153A by revenue for assessment years 2000-01 to 2003-04 was without any legal basis where there was no incriminating material qua each of those assessment years

Avijit Das / May 25, 2017

High Court Of Delhi Pr. CIT, Central -2, New Delhi vs. Meeta Gutgutia Section 153A Assessment years 2001-02 to 2003-04

Delhi H.C : Where Assessing Officer of searched person recorded that documents seized during search belonged to assessee, merely because he had not categorically stated that documents mentioned therein did not belong to searched person would not invalidate assumption of jurisdiction under section 153C in respect of assessee

Avijit Das / May 25, 2017

High Court Of Delhi Ganpati Fincap Services (P.) Ltd. vs. CIT Section 153C Assessment years 2004-05 to 2009-10 Dr. S.

Delhi H.C : On basis of reports of STPI and Export Promotion Council, that assessee ‘manufactured, produced and exported software’, it could claim exemption under section 10A or 10B

Avijit Das / May 22, 2017

High Court Of Delhi Pr. CIT, Delhi-1 vs. Amadeus India (P.) Ltd. Section 10A Assessment year 2009-10 Dr. S. Muralidhar

Delhi H.C : Search warrant could not be issued in respect of assessee’s locker merely because key to said locker was found during search and seizure operation conducted upon assessee’s uncle

Avijit Das / May 16, 2017

High Court Of Delhi Ameeta Mehra Vs. Additional Director of Income-tax (Inv)-Unit Assessment years 2006-07 to 2011-12 Section 132 Dr.

Delhi H.C : Where income declared by assessee for settlement did not belong to him but were unaccounted money collected by another entity, assessee’s application for settlement was to be rejected

Avijit Das / May 15, 2017

High Court Of Delhi Vishwa Nath Gupta vs. Pr.CIT, Central Kanpur Section 245D Assessment years 2009-10 to 2013-14 Ravindra Bhat

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