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PR. Commissioner of Income Tax-12 vs Karuna Garg (Delhi High Court) – No Addition under Section 68 for Alleged Bogus LTCG Without Cogent Evidence | AY 2015-16
Facts of the
Case
The assessee declared Long-Term Capital Gains (LTCG) from sale of
shares of M/s Goldline International Finvest Ltd..
The Assessing Officer (AO) treated the gains as bogus and
made an a...
H.T. Media Limited vs Principal Commissioner of Income Tax-4, Delhi (Delhi High Court) – Section 14A Disallowance & Rule 8D Satisfaction Validity
Facts of the
CaseThe assessee, H.T. Media Limited, filed returns for
AY 2012-13 and AY 2013-14 declaring substantial income and earned exempt
dividend income under Section 10(34). It made suo moto disallowance under
...
H.T. Media Limited vs Principal Commissioner of Income Tax-4, Delhi – Section 14A Disallowance, AO Satisfaction & Rule 8D Applicability Clarified (Delhi High Court)
Facts of the
CaseThe assessee, H.T. Media Limited, filed returns for
AY 2012–13 and AY 2013–14 declaring substantial income and earning exempt
dividend income under Section 10(34).
The assessee made suo moto dis...
Sundeep Kathuria vs Deputy Director of Income Tax (Investigation) – Challenge to Show Cause Notice under Section 43 of Black Money Act, 2015 (Delhi High Court)
Facts of the
CaseThe petitioner, Sundeep Kathuria, was subjected to
penalty proceedings initiated through a show cause notice dated 12.09.2022
under Section 43 of the Black Money Act, 2015 for alleged non-disclosure o...
Principal Commissioner of Income Tax–3 vs Decent Financial Services Pvt. Ltd. (Delhi High Court) – Section 14A & Rule 8D Disallowance Cannot Be Applied Without Recording Satisfaction
Facts of the
CaseThe assessee, engaged in the business of trading in
shares and securities, filed its return declaring a loss of ₹4.86 crore. During
scrutiny, the Assessing Officer (AO) observed that the assessee ha...
Dr. B.L. Kapur Memorial Hospital vs Commissioner of Income Tax (TDS), Delhi & Ors. | Delhi High Court | Section 201(1), 201(1A) Income Tax Act | Stay of Demand & 20% Deposit Not Mandatory
Facts of the
CaseThe petitioner filed writ petitions challenging
orders dated 06 September 2022 and 07 November 2022 whereby the tax authorities
rejected its stay applications and directed payment of 20% of the total ...
Vayoo Nandan Finance Company Pvt. Ltd. vs Income Tax Officer, Ward 26(1), Delhi – Delhi High Court Sets Aside Reassessment Proceedings for Violation of Section 148A Procedure (AY 2018–19)
Facts of the
CaseThe present writ petition was filed by the
petitioner challenging the validity of reassessment proceedings initiated under
the Income Tax Act, 1961 for Assessment Year 2018–2019. The challenge was
...
Dr. B.L. Kapur Memorial Hospital vs Commissioner of Income Tax (TDS) Delhi-1 & Ors. – Stay of Demand under Section 201(1) | Delhi High Court
Facts of the
Case
The petitioner hospital was treated as an “assessee-in-default”
under Sections 201(1) and 201(1A) for short deduction of TDS for AY
2013–14 and 2014–15.
Total tax demand exceed...
MUFG Bank Ltd. vs Commissioner of Income Tax-2 & Anr. (2022) – Settlement of Appeals under Vivad Se Vishwas Act Not Mandatory for Entire Assessment Year
Facts of the
CaseThe petitioner, MUFG Bank Ltd., a foreign banking
company operating in India, was subjected to assessment proceedings for AY
2007–08 under Sections 143 read with 144C of the Income Tax Act. Various
...
Sunil Malik vs Assistant Commissioner of Income Tax Circle 49(1), Delhi & Ors. (2023) – Reassessment under Section 148A Set Aside for Lack of Material Disclosure | Delhi High Court
Facts of the
CaseThe petitioner, Sunil Malik, challenged
reassessment proceedings initiated by the Income Tax Department for Assessment
Year 2015–16. The proceedings arose from allegations that the petitioner was
e...