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Principal Commissioner of Income Tax (Central)-2 vs M/s Victory Apartments Pvt. Ltd. & Connected Matters (Delhi High Court) – Section 153C Invalid in Absence of Incriminating Material (AY 2009-10)
Facts of the CaseThe present appeals were filed by the Revenue
challenging the order of the Income Tax Appellate Tribunal dated 24.03.2017.
The case involved multiple assessees belonging to the Victory Group.A search o...
Principal Commissioner of Income Tax (Central)–2 vs M/s Victory Apartments Pvt. Ltd. & Connected Matters – Section 153C Invalid Without Incriminating Material (Delhi High Court)
Facts of the CaseThe present appeals were filed by the Revenue
against multiple assessees concerning Assessment Year 2009–10. The dispute
arose from an order passed by the Income Tax Appellate Tribunal dated
24.03.2...
Principal Commissioner of Income Tax (Central)–2 vs M/s Victory Apartments Pvt. Ltd. & Ors. – Section 153C Proceedings Invalid Without Incriminating Material (Delhi High Court)
Facts of the
CaseThe present appeals were filed by the Revenue
against the order dated 24.03.2017 passed by the Income Tax Appellate Tribunal
(ITAT) concerning multiple assessees, namely M/s Victory Apartments Pvt. Lt...
PR. Commissioner of Income Tax-2 vs M/s Clix Finance India Pvt. Ltd. | Section 14A & Loss on Sale of Loan Portfolio | Delhi High Court
Facts of the
CaseThe Revenue filed an appeal challenging the order
of the Income Tax Appellate Tribunal (ITAT) concerning two issues:
Disallowance under Section 14A read with Rule 8D.
Deletion of addition relating...
PR. Commissioner of Income Tax–2 vs M/s Clix Finance India Pvt. Ltd. (Delhi High Court) – Section 14A & Loss on Sale of Loan Portfolio [AY 2010–11]
Facts of the
CaseThe present appeal pertains to Assessment Year
2010–11, where the Revenue challenged the order of the ITAT dated
14.05.2019.The assessee, engaged in financing activities, had:
Earned exempt divide...
PR Commissioner of Income Tax–15 vs Jasjit Singh (Delhi High Court) – TDS Credit Allowed Despite Non-Deposit by Deductor | Section 199 & 205 Income Tax Act
Facts of the
CaseThe present appeal arose from an order passed by
the Income Tax Appellate Tribunal (ITAT) in favor of the assessee, Jasjit
Singh. The assessee held 25% equity shares in S.R. Resorts Pvt. Ltd., which
...
Principal Commissioner of Income Tax-7 vs M/s Shivaai Industries Pvt. Ltd. | Section 40(a)(ia) & 201(1) – Retrospective Applicability of Second Proviso Clarified (Delhi High Court)
Facts of the
Case
The present appeal pertains to Assessment Year 2008–09.
The Revenue challenged the order of the Income Tax Appellate
Tribunal (ITAT) dated 27.04.2023.
The dispute arose from addition of...
PR. Commissioner of Income Tax-10, Delhi vs. Shri Tarlok Singh Punihani | Section 69 Income Tax Act | Delhi High Court Judgment (AY 2014–15)
Facts of the
Case
The assessee, Shri Tarlok Singh Punihani, was a partner in M/s
Punihani International.
The Revenue alleged that the assessee purchased 50% of the 10%
share in a property located at Meh...
Kanti Commercials Pvt. Ltd. vs Commissioner of Income Tax – Section 68 Addition on Share Capital Remanded Due to Violation of Natural Justice (Delhi High Court)
Facts of the
CaseThe appellant/assessee, Kanti Commercials Pvt.
Ltd., filed an appeal challenging the order dated 18.01.2023 passed by the
Income Tax Appellate Tribunal (ITAT). The dispute arose from an addition of
â...
PR. Commissioner of Income Tax-3 vs DLF Home Developers Ltd (Delhi High Court) – Section 14A r/w Rule 8D Disallowance | AY 2011-12
Facts of the
Case
The case relates to Assessment Year 2011-12.
The Assessing Officer (AO) made a disallowance of ₹80.66 crore
under Section 14A read with Rule 8D.
Disallowance included:
Interest e...