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Reopening Upheld Where Investigation Wing Material Shows Accommodation Entries Despite GST Compliance; Limited Scope of Section 148A Review – Majestic Handicraft Pvt. Ltd. vs. DCIT (Delhi High Court)
Facts of the CaseThe petitioner, Majestic Handicraft Private Limited, filed its
return of income for Assessment Year 2018–19 on 17.10.2018, which was processed
under Section 143(1) of the Income-tax Act, 1961. The pe...
ITAT Cannot Remand Transfer Pricing Issues Without Adjudicating Grounds Raised; Separate ALP Adjustment for Purchase of Finished Goods Requires Independent Consideration – Luxottica India Eyewear Pvt. Ltd. vs. ACIT (Delhi High Court)
Facts of the CaseThe assessee, Luxottica India Eyewear Pvt. Ltd., is an Indian
subsidiary of Luxottica Holland B.V. and is engaged in the business of trading
sunglasses. For Assessment Year 2010–11, the assessee file...
Assessment Proceedings Time-Barred Where No Order Passed After ITAT Remand Within Section 153 Limitation; Refund Directed – Huawei Telecommunications India Co. Pvt. Ltd. vs. ACIT (Delhi High Court)
Facts of the CaseThe petitioner, Huawei Telecommunications India Company
Private Limited, filed its return of income for Assessment Year 2012–13
declaring a loss. The return was selected for scrutiny and assessment w...
Investment in Property With Brick Kiln Not Eligible for Section 54F Exemption; “Makaan” in Sale Deed Not Sufficient to Prove Residential House – Himanshu Garg vs. ACIT (Delhi High Court)
Facts of the CaseThe assessee, Himanshu Garg, sold certain lands during
Assessment Year 2014–15 for a consideration of ₹3,23,88,500/- and declared
long-term capital gains of ₹1,84,23,729/-. He claimed exemption u...
Transfer Pricing Reference Without International Transaction Is Without Jurisdiction; TPO Cannot Re-Benchmark Past Asset Acquisition for Depreciation Year – Fab India Overseas Pvt. Ltd. vs. ACIT (Delhi High Court)
Facts of the CaseThe petitioner, Fab India Overseas Private Limited, challenged
the order dated 28.01.2021 passed by the Transfer Pricing Officer for
Assessment Year 2011–12. The petitioner had acquired the trademark...
Reopening Beyond Four Years Invalid Absent Allegation of Failure to Disclose Material Facts; Change of Opinion Not Permissible – Discovery Communications India vs. Addl. CIT (Delhi High Court)
Facts of the CaseThe petitioner, Discovery Communications India, was engaged in
the business of distribution, advertisement sales, marketing and production of
educational and entertainment programmes for various Discov...
Reassessment Notice Upheld Where Assessee Fails to Explain Large Cash Deposits at Section 148A Stage; Court Declines Interference – Dhan Prakash Gupta vs. Income Tax Department (Delhi High Court)
Facts of the CaseThe petitioner, Dhan Prakash Gupta, challenged the notice
dated 01.03.2024 issued under Section 148A(b) and the order dated 30.03.2024
passed under Section 148A(d) of the Income-tax Act, 1961 seeking t...
Reopening Under Sections 147/148 Valid Where Section 153C Threshold Not Met; Abhisar Buildwell Applied to Third-Party Search Information – Daisy Distributors Pvt. Ltd. vs. ITO (Delhi High Court)
Facts of the CaseThe petitioner, Daisy Distributors Pvt. Ltd., challenged the
order dated 24.07.2022 passed under Section 148A(d) and the consequential
notice dated 24.07.2022 issued under Section 148 of the Income-tax...
Viability Gap Funding Under BOT Concession Agreements Not Subject to TDS Under Section 194C; Capital Grant Not Payment for Work – CIT (TDS)-2 vs. National Highway Authority of India (Delhi High Court)
Facts of the CaseThe respondent, National Highway Authority of India (NHAI), is
a statutory authority constituted under the National Highways Authority of
India Act, 1988 and is responsible for development, maintenance...
Penalty Under Section 271C Time-Barred Where JCIT Delays Action After AO’s Reference; Initiation Begins With First Step – CIT (TDS)-2 vs. Turner General Entertainment Networks India Pvt. Ltd. (Delhi High Court)
Facts of the CaseThe assessee, Turner General Entertainment Networks India Pvt.
Ltd., filed its return of income for Assessment Year 2011–12 on 30.11.2011
declaring a loss of ₹2,62,04,18,432/-. The tax audit report...