IT: Assessing Officer cannot reopen assessment u/s 147 on issues which have been examined and considered at time of original assessment ■■■ [2012] 20 taxmann.com 673 (Delhi) HIGH COURT OF DELHI RRB Consultants And Engineers (P.) Ltd. v. Deputy Commissioner of Income-tax* SANJIV KHANNA AND R.V. EASWAR, JJ. W.P. (C) NO. 7313 OF...
IT: Where Assessing Officer had formed erroneous legal opinion in original assessment order, remedy available to revenue was under section 263 and not under section 147 IT: Printing and binding of books as per instructions of importer is an activity eligible for deduction under section 10B ■■■ [2013]...
IT: Where after specific consideration of domestic tariff area (DTA) supplies, section 10B deduction was allowed, subsequent reassessment on ground that such DTA supplies were not export, would be without jurisdiction ■■■ [2013] 30 taxmann.com 353 (Delhi) HIGH COURT OF DELHI Replika Press (P.) Ltd. v. Assistant Commissioner...
IT: In view of provisions of section 78(2), loss suffered by an erstwhile partnership firm in which assessee was a partner, could not be set off against his individual income ■■■ [2012] 19 taxmann.com 24 (Delhi) HIGH COURT OF DELHI Pramod Mittal v. Commissioner of Income-tax* SANJIV KHANNA AND R.V. EASWAR, JJ. IT...
IT: When there was lack of clarity on part of income-tax authorities as regards applicable provisions for disallowance of loss, penalty imposed on ground that such claim was false was not justified ■■■ [2012] 28 taxmann.com 206 (Delhi) HIGH COURT OF DELHI Pramod Mittal v. Commissioner of Income-tax* S. RAVINDRA BHAT AND...
IT: Capital construction equipment kept ready for use, but not actually used are entitled to depreciation ■■■ [2012] 28 taxmann.com 89 (Delhi) HIGH COURT OF DELHI National Thermal Power Corpn. Ltd. v. Commissioner of Income-tax* S. RAVINDRA BHAT AND R.V. EASWAR, JJ. IT REFERENCE NOS. 43-44 OF 1998 OCTOBER 15, 2012 Section 32 of the...
[2011] 13 taxmann.com 114 (Delhi) HIGH COURT OF DELHI Mod Creations (P.) Ltd. v. Income-tax Officer* SANJAY KISHAN KAUL AND RAJIV SHAKDHER, JJ. IT APPEAL NO. 1158 OF 2007 AUGUST 29, 2011 Section 68 of the Income-tax Act, 1961 - Cash credits - Assessment year 2002-03 - During relevant assessment year, assessee-company had...
IT: Completed contract method can be adopted under section 145 when an assessee follows mercantile system of accounting ■■■ [2012] 22 taxmann.com 230 (Delhi) HIGH COURT OF DELHI Lunar Electricals v. Assistant Commissioner of Income-tax* SANJIV KHANNA AND R.V. EASWAR, JJ. IT APPEAL NO. 195 OF 2006 MARCH 22, 2012 Section 145 of the Income-tax...
IT: Penalty order passed under section 271(1)(c) for raising a false claim for bad debts where allowed ■■■ [2012] 19 taxmann.com 234 (Delhi) HIGH COURT OF DELHI Kanchenjunga Advertising (P.) Ltd. v. Commissioner of Income-tax-I* SANJIV KHANNA AND R.V. EASWAR, JJ. IT APPEAL NO. 944 OF 2011 JANUARY 13, 2012 Section 36(1)(vii),...
IT: Where Assessing Officer had specifically examined issue relating to apportionment of common expenditure and was fully satisfied with apportionment made, Commissioner could not have invoked provision under section 263 merely on assumption that order passed by Assessing Officer could possibly have been erroneous ■■■ [2014] 50...