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Mar 26 2019 (HC)

Indian Railway Stations Development Corporation Ltd. Vs.pr. Commission ...

Court : Delhi

..... jalan s. ravindra bhat, j.(open court) % 1. the writ petitioner seeks the intervention of this court to set aside an order of the principal commissioner of income tax [cit]. under section 264 of the income tax act, 1961. the petitioner is aggrieved by the assessment order made by the assessing officer (ao) for the assessment year (ay) 2013-2014, wherein the ao disallowed ..... year of the business would not have commenced the expenses incurred in 11. the bombay high court, which was in this case dealing with the corresponding provision of the indian income-tax act, 1922, then explained the distinction between the concepts of commencement? and setting up? of business: . . . it seems to us, that the expression setting up? means, as is ..... its business and that these steps were for the ultimate fulfillment of its purposes, which was the preparation of development plans leading to the projects.16. the principal commissioner of income tax, in the impugned order, was plainly wrong in holding otherwise. for the aforesaid reasons, we are of the opinion that this writ petition is to succeed. the impugned ..... three items of expenditure claimed as deduction, i.e., depreciation, preliminary expenses, and employees remuneration.2. the assessee/petitioner company was incorporated under the old companies act on 12.04 .....

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Mar 25 2019 (HC)

The Pr. Commissioner of Income Tax-6 vs.make My Trip India Pvt. Ltd.

Court : Delhi

..... revenue reads as under: whether the itat erred in deleting the addition of rs. 12,52,49,946/- made by the assessing officer under section 40(a)(ia) of the income tax act,1961 being non deduction of tds on account of payment gateway charges?. 3. the facts in brief are that the assessee is engaged in the business of selling its travel ..... s. muralidhar justice i.s. mehta % order2503.2019 dr. s. muralidhar, j.:1. this appeal by the revenue under section 260-a of the income tax act, 1961 ( act?) is directed against an order dated 26th september, 2017, passed by the income tax appellate tribunal, ( itat?) new delhi in ita no.4721/del/2014 for assessment year ( ay?) 2009-10.2. the question of law sought ..... deducted by the bank in this process is actually a commission earned by the payment gateway and, therefore, would attract section 194-h of the act requiring deduction of tax at source.9. the decision in commissioner of income tax v. jds apparels ( p) ltd. (supra) holds that in a similar kind of transaction, the amount retained by the bank is a fee charged ..... and not commission? or brokerage? and thus no tds was deductible from the said charges under section 194 h of the act. in coming to the said conclusion, the itat relied on the judgment of this court in commissioner of income tax v jds apparels (p) ltd. (2015) 370 itr ita1362019 page 3 of 7 454 (del).8. ms. vibhooti malhotra, learned counsel .....

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Mar 25 2019 (HC)

Commissioner of Income Tax vs.sh. Jagdish Prasad Gupta

Court : Delhi

..... allowed, as enhanced licence fee for the relevant year, was impermissible and ought not to have been allowed deduction in view of section 43b(a) of the income tax act. the facts of the present case are identical to the batch of appeals decided by this court and applicable to a.y. 1997-98; 2002- 03; ..... justice s. ravindra bhat hon ble mr. justice prateek jalan s. ravindra bhat, j.(oral) 1. the revenue in this appeal under section 260a of the income tax act questions the decision of the itat for assessment years 2007-08. the revenue contends especially that the sum of rs.2.60 crores claimed by the assessee and ..... to be examined as it is a pure question of law and also citing a supreme court decision in national thermal power company ltd. v. commissioner of income tax, (1998) 229 itr383(sc). the learned counsel also relied upon the additional grounds urged in this regard as well as the documents placed on the record. ..... 2004-05 and 2009-10 [jagdish prasad gupta v. commissioner of income tax, (2017) 397 itr578(del)]..2. the necessary facts of the case are that the assessee was allotted ita no.658/2018 page 1 of 8 lands by ..... the year in which such final decision is rendered, the corresponding reversal of entries will have to take place in terms of section 41(3) of the act. all of this, in no way, extinguishes the liability of the assessee to pay the licence fee. the assessee would be justified in claiming the enhanced .....

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Mar 23 2019 (HC)

Principal Commissioner of Income Tax-6 vs.nalwa Sons Investment Ltd

Court : Delhi

..... ble mr. justice prateek jalan order % s. ravindra bhat, (open court) 1. these two appeals are preferred by the revenue under section 260a of the income tax act ( the act hereafter); they challenge an order of the income tax appellate tribunal ( itat ) relating to two assessment years concerning the assessee-respondent.2. in ita11422018, three questions of law are urged (i) with respect to ..... income from shares if interest bearing funds have been used by the assessee. section 14a may only be invoked if the assessee has made ..... expenditure also on which the assessee claimed that same were not incurred for earning any dividend income . in the case of cit vs abhishek industries ltd. [2016]. 380itr652(p&h) by the punjab & haryana high court held as under:-"to the assessing officer the income-tax act, 1961, "section 14a of empowers an assessing officer to disallow expenditure in relation to exempted ..... shares of banking or the granting of loans and advances); its total income mainly consists of income derived from the granting of loans and advances. such being the case, the cit(a) clearly falls into error in holding that the loss reported pertains to a speculative transaction; the itat acted correctly in law in setting aside that finding. therefore, no question .....

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Mar 20 2019 (HC)

Commissioner of Income Tax vs.gopal Das Estates & Housing pvt.ltd

Court : Delhi

..... : justice s. muralidhar justice sanjeev narula ita2102003 & connected matters page 4 of 36 dr. s. muralidhar, j.: judgment1 these are 11 appeals under section 260-a of the income tax act, 1961 ( act?) of which 1 is by the assessee and 10 are by the revenue. apart from the facts being similar, the questions of law too are common to many of the ..... their jewellery with the bank which was stolen by dacoits. the question was whether such payments could be allowed as business expenditure under section 10(2)(xv) of the indian income tax act, 1922?. it was acknowledged that in choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure ..... gargi sethee, advocates. coram: justice s. muralidhar justice sanjeev narula order2003.2019 1. this appeal by the revenue under section 260-a of the income tax act, 1961 ( act ) is directed against the judgment dated 27thfebruary 2009 of the income tax appellate tribunal (itat) in ita no.1642/del/2008 for the assessment year (ay) 2005-06.2. while admitting this appeal on 28thjanuary 2010 ..... , this court framed the following questions of law for consideration: a) whether the income-tax appellate tribunal was correct in law in deleting the addition of .....

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Mar 20 2019 (HC)

Gopal Das Estates & Housing pvt.ltd vs.commissioner of Income Tax

Court : Delhi

..... narula ita2102003 & connected matters page 4 of 36 dr. s. muralidhar, j.: judgment1 these are 11 appeals under section 260-a of the income tax act, 1961 ( act?) of which 1 is by the assessee and 10 are by the revenue. apart from the facts being similar, the questions of law too ..... stolen by dacoits. the question was whether such payments could be allowed as business expenditure under section 10(2)(xv) of the indian income tax act, 1922?. it was acknowledged that in choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and ..... s. muralidhar justice sanjeev narula order2003.2019 1. this appeal by the assessee under section 260-a of the income tax act, 1961 ( act ) is directed against the judgment dated 28th february 2002 of the income tax appellate tribunal (itat) in ita no.469/del/1999 for the assessment year (ay) 1995-96.2. while ..... estates & housing pvt.ltd ...... respondent through: mr. m.s. syali, senior advocate with mr. arta trana panda and ms. gargi sethee, advocates + ita6112005 commissioner of income tax ..... appellant through: ms. vibhooti malhotra, jr. standing counsel. ita2102003 & connected matters page 1 of 36 versus gopal das estates & housing pvt.ltd ...... respondent through: ..... rental income in their returns. thus on the one hand, there was credit of tds and on the other hand there was debit of tax paid on behalf of the owners.78. the court is of the view that there was no occasion to invoke section 154 of the act, .....

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Mar 20 2019 (HC)

Commissioner of Income Tax vs.gopal Das Estates & Housing pvt.ltd.

Court : Delhi

..... coram: justice s. muralidhar justice sanjeev narula ita2102003 & connected matters page 4 of 36 dr. s. muralidhar, j.: judgment1 these are 11 appeals under section 260-a of the income tax act, 1961 ( act?) of which 1 is by the assessee and 10 are by the revenue. apart from the facts being similar, the questions of law too are common to many of the ..... their jewellery with the bank which was stolen by dacoits. the question was whether such payments could be allowed as business expenditure under section 10(2)(xv) of the indian income tax act, 1922?. it was acknowledged that in choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill, the bank laid out expenditure for ..... .gargisethee, advocates. arta coram: justice s. muralidhar justice sanjeev narula order2003.2019 1. this appeal by the revenue under section 260-a of the income tax act, 1961 ( act ) is directed against the judgment dated 27thjune 2008 of the income tax appellate tribunal (itat) in ita no.4198/del/2006 for the assessment year (ay) 2003-04.2. while admitting this appeal on 22nd july ..... 2009, this court framed the following questions of law for consideration: (1) whether the income tax appellate tribunal was correct in lawin deleting the addition of rs. .....

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Mar 20 2019 (HC)

Commissioner of Income Tax vs.gopal Das Estates & Housing pvt.ltd .

Court : Delhi

..... narula ita2102003 & connected matters page 4 of 36 dr. s. muralidhar, j.: judgment1 these are 11 appeals under section 260-a of the income tax act, 1961 ( act?) of which 1 is by the assessee and 10 are by the revenue. apart from the facts being similar, the questions of law too ..... stolen by dacoits. the question was whether such payments could be allowed as business expenditure under section 10(2)(xv) of the indian income tax act, 1922?. it was acknowledged that in choosing to compensate its constituents for the loss of their jewellery and maintain its business connections and goodwill ..... s. muralidhar justice sanjeev narula order2003.2019 1. this appeal by the revenue under section 260-a of the income tax act, 1961 ( act ) is directed against the judgment dated 22nd may 2009 of the income tax appellate tribunal (itat) in ita no.5531/del/2004 for the assessment year (ay) 2001-02.2. ..... estates & housing pvt.ltd ...... respondent through: mr. m.s. syali, senior advocate with mr. arta trana panda and ms. gargi sethee, advocates + ita6112005 commissioner of income tax ..... appellant through: ms. vibhooti malhotra, jr. standing counsel. ita2102003 & connected matters page 1 of 36 versus gopal das estates & housing pvt.ltd ...... respondent through: ..... rental income in their returns. thus on the one hand, there was credit of tds and on the other hand there was debit of tax paid on behalf of the owners.78. the court is of the view that there was no occasion to invoke section 154 of the act, .....

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Mar 20 2019 (HC)

Commisisoner of Income Tax Delhi vs.sunil Lamba

Court : Delhi

..... , 1961 ( act?) is directed against an order dated 7th may, 2003 passed by the income tax appellate tribunal (itat) in the ita no.3006/del/2000 for the assessment year (ay) 1995-96. questions of law 2. while admitting this ..... taxable were not retrospective and did not apply in the ay in question. proceedings under section 263 12. a notice under section 263 of the act dated 13th march, 2000 was issued by the commissioner of income tax (cit) asking the assessee to explain why the order of the ao be not modified or enhanced as it was erroneous or prejudicial to the interest ..... income tax delhi ita4652003 .... appellant through: mr. ashok manchanda, sr. standing counsel with mr. pankaj sinha, advocate. sunil lamba versus ..... respondent through: mr. ajay vohra, sr. advocate with ms. kavita jha, ms. devika jain & mr. anant mann, advocates. coram: justice s. muralidhar justice sanjeev narula judgment dr. s. muralidhar, j.:1. this appeal by the revenue, under section 260 a of the income tax act ..... ) 332 itr602(sc) to be a capital receipt and not a revenue receipt. even the amendment of section 28 (5) (a) of the finance act, 2002 with effect from 1st april, 2003 bringing such receipts to tax as business income, was held in guffic chem (p) ltd. (supra) to be prospective. till ay200304, it was treated as a capital receipt.24. both receipts .....

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Mar 15 2019 (SC)

Principal Commissioner of Income Tax 8 Vs. M/S Yes Bank Ltd

Court : Supreme Court of India

..... 2008, the question arose as to whether the respondent assessee(bank) was entitled to claim deduction under section 35 d of the income tax act, 1961 (for short, the act ) for the assessment year in question. in other words, the question arose as to whether the respondent bank is an industrial undertaking so ..... department) in the high court under section 260 a of the act.8. by impugned order, the high court dismissed the appeal after hearing both the parties giving rise to filing of ..... 1 3. this appeal involves a short point as would be clear from the facts stated infra.4. the appellant is the union of india (income tax department) and the respondent bank is the assessee.5. in the course of assessment proceedings of the respondent assessee(bank) for the assessment year 2007 ..... court of india civil appellate jurisdiction civil appeal no.3148 of2019(arising out of s.l.p.(c) no.7118 of 2018) the principal commissioner of income tax 8 .appellant(s) versus m/s yes bank ltd. .respondent(s) judgment abhay manohar sapre, j.1. leave granted.2. this appeal is ..... act which resulted in passing of an adverse order dated 14.11.2011 by the commissioner.7. this gave rise to filing of the appeal by the respondent before the itat against the order of the commissioner. by order dated 05.12.2014, the itat allowed the appeal which gave rise to filing of the appeal by the revenue (income tax .....

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