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Loss on Sale of HTM Securities Cannot Be Disallowed Without Examining Supporting Material; Matter Remanded for Fresh Consideration under Section 45(2): Punjab National Bank vs. PCIT Delhi-V (Delhi HC)
Facts of the
CasePunjab National Bank filed an appeal under Section
260A of the Income-tax Act challenging the order dated 16.03.2018 passed by the
Income Tax Appellate Tribunal for Assessment Year 2006-07. The disput...
Application under Vivad Se Vishwas Scheme Cannot Be Rejected Merely on Ground That Appeal May Be Non-Maintainable; Pendency of Appeal Constitutes Dispute: Prayas Buildwell Pvt. Ltd. vs. PCIT-7 (Delhi HC)
Facts of the
CaseThe petitioner, Prayas Buildwell Private Limited,
filed a writ petition challenging a communication dated 18.12.2020 whereby its
declaration filed in Form 1 under the Direct Tax Vivad Se Vishwas Act, ...
Penalty under Section 271(1)(c) Unsustainable for Vague Notice Not Specifying Exact Charge; Defective Penalty Notice Vitiates Proceedings: PCIT-7 vs. Sara SAE Pvt. Ltd. (Delhi HC)
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income-tax Act challenging the order passed by the Income Tax Appellate
Tribunal deleting penalty levied under Section 271(1)(c) for Assessment Ye...
Transfer Pricing Comparability Is a Factual Determination; Exclusion of KPO and High-End BPO Companies Upheld and No Substantial Question of Law Arises: PCIT-4 vs. Symphony Marketing Solutions India Pvt. Ltd. (Delhi HC)
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income-tax Act against the order dated 18.08.2017 passed by the Income Tax
Appellate Tribunal in IT (TP) A No. 111/Bang/2014 for Assessment Year 2...
Penalty under Section 271(1)(c) Invalid for Vague Notice Without Specifying Charge; Defective Notice Vitiates Penalty Proceedings: PCIT-7 vs. Virtual Software and Training Pvt. Ltd. (Delhi HC)
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income-tax Act against the order passed by the Income Tax Appellate
Tribunal deleting penalty levied under Section 271(1)(c) for Assessment Year
...
Revision under Section 263 Valid Where Assessing Officer Conducted No Inquiry on Agricultural Land Claim; Order Erroneous and Prejudicial to Revenue: PCIT-11 vs. Sangeeta Jain (Delhi HC)
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income-tax Act challenging the order dated 15.02.2018 passed by the Income
Tax Appellate Tribunal for Assessment Year 2013-14. The assessee, Ms. S...
Reassessment under Section 147 Invalid Where Proceedings Mandatorily Fall under Section 153C; Special Search Provisions Override General Reopening Powers: PCIT-7 vs. Naveen Kumar Gupta (Delhi HC)
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income-tax Act challenging the order dated 09.12.2021 passed by the Income
Tax Appellate Tribunal for Assessment Year 2011-12. The ITAT had allowe...
Reassessment Invalid Where No Addition Made on Recorded Reasons; Other Additions Cannot Survive Independently – PCIT-7 vs. Sunlight Tour and Travels Pvt. Ltd. (Delhi High Court)
Facts of the CaseThe assessee, Sunlight Tour and Travels Pvt. Ltd., had
originally filed its return for Assessment Year 2007–08, which was scrutinised
and assessed under Section 143(3). Subsequently, the Assessing Of...
Remote Technical Support Without “Make Available” Does Not Constitute Fees for Technical Services; No TDS Obligation Under India–USA DTAA – PCIT-2 vs. Ciena Communications India Pvt. Ltd. (Delhi High Court)
Facts of the CaseThe respondent-assessee, Ciena Communications India Pvt. Ltd.,
made payments to its associated enterprise, Ciena Communications Inc., USA,
during Assessment Years 2012–13, 2013–14 and 2014–15 for...
Additions Under Section 153C Unsustainable Without Incriminating Material Belonging to Assessee; Survey Material Cannot Expand Jurisdiction – PCIT (Central)-3 vs. TDI Infrastructure Ltd. (Delhi High Court)
Facts of the CaseSearch and seizure operations under Section 132 were conducted
on 05.01.2009 in the cases of the Taneja–Puri Group. During the same period,
survey proceedings under Section 133A were also carried out...