Tag: 395 ITR

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.

High Court Of Bombay CIT-8 Vs. Oryx Finance & Investment (P.) Ltd., Mum. Section 221, 2(43) S.V. Gangapurwala And G.S. Kulkarni, JJ. IT Appeal No. 01 Of 2015 July 1, 2017 JUDGMENT S.V. Gangapurwala, J. – Admit. Taken up for final hearing with the consent of the learned counsel for the parties. 2. The Revenue has …
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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

Supreme Court Of India Honda Siel Cars India Ltd. vs. CIT, Ghaziabad Section : 37(1) Assessment years 1999-2000, 2001-02 to 2005-06 A.K. Sikri And Ashok Bhushan, JJ. Civil Appeal Nos. 4918 To 4922 Of 2017 June 9, 2017 JUDGMENT A.K. Sikri, J. – Assessee in all these appeals is Honda SIEL Cars Ltd. (hereinafter referred to …
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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

High Court Of Delhi Avtec Ltd. vs. DCIT Section : 43(1), 147 Assessment Years : 2008-09 to 2010-11 Dr. S. Muralidhar And Chander Shekhar, JJ. W.P. (C.) Nos. 519,522 & 761 Of 2016 May 30, 2017 ORDER Dr. S. Muralidhar, J. – These are three writ petitions by Avtec Limited which challenge the notices dated 31st …
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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

High Court Of Delhi Strategic Credit Capital (P.) Ltd. vs. Ratnakar Bank Ltd. Section : 132 Dr. S. Muralidhar And Chander Shekhar, JJ. W.P. (C.) Nos. 1180 & 2375 Of 2017 C.M. Nos. 5358 & 10202 Of 2017 (Stay) May  29, 2017 JUDGMENT Dr. S. Muralidhar, J. -These two writ petitions under Article 226 of the …
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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

High Court Of Delhi Pr. CIT, Central -2, New Delhi vs. Meeta Gutgutia Section 153A Assessment years 2001-02 to 2003-04 and 2004-05 Dr. S. Muralidhar And Chander Shekhar, JJ. IT Appeal Nos. 306 To 310 Of 2017 May  25, 2017 JUDGMENT Dr. S. Muralidhar, J. – These are five appeals by the Revenue under Section 260A of …
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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

High Court Of Delhi Ganpati Fincap Services (P.) Ltd. vs. CIT Section 153C Assessment years 2004-05 to 2009-10 Dr. S. Muralidhar And Chander Shekhar, JJ. W.P. (C.) Nos. 525, 527, 529, 2220, 2221, 2224 To 2229 And 2245 To 2248 Of 2015 May  25, 2017 ORDER Dr. S. Muralidhar, J. – These fifteen writ petitions arise out …
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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

High Court Of Delhi Pr. CIT, Delhi-1 vs. Amadeus India (P.) Ltd. Section 10A Assessment year 2009-10 Dr. S. Muralidhar And Vinod Goel, JJ. IT Appeal Nos. 154 & 330 Of 2017 May  22, 2017 ORDER Dr. S. Muralidhar, J. – These are two appeals by the Revenue under Section 260A of the Income Tax Act, 1961 …
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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

High Court Of Delhi Ameeta Mehra Vs. Additional Director of Income-tax (Inv)-Unit Assessment years 2006-07 to 2011-12 Section 132 Dr. S. Muralidhar And Chander Shekhar, JJ. W.P. (C.) No. 1471 Of 2013 May  16, 2017 ORDER Dr. S. Muralidhar, J. – Ms. Ameeta Mehra, the Petitioner, has in this petition under Article 226 of the Constitution …
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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

High Court Of Delhi Vishwa Nath Gupta vs. Pr.CIT, Central Kanpur Section 245D Assessment years 2009-10 to 2013-14 Ravindra Bhat And Najmi Waziri, JJ. W.P. (C.) No. 5185 Of 2016 May  15, 2017 ORDER Ravindra Bhat, J. – The petitioner seeks a direction to quash the order of 03.05.2016, passed by the Income Tax Settlement Commission, Additional …
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