Search Results For: Diva Singh (JM)


DCIT vs. Moni Kumar Subba (ITAT Delhi)

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DATE: October 12, 2018 (Date of pronouncement)
DATE: October 15, 2018 (Date of publication)
AY: 2006-07
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CITATION:
S. 23(1)(b), 50C: Law explained on (i) whether notional interest on interest-free security deposit can be added while computing annual value u/s 23(1)(b) & (ii) whether the interest-free security deposit can be treated as 'full value of consideration' u/s 50C as it was included in 'assessable value' by the Stamp Duty Valuation Authority

The object of Section 2(47)(vi) appears to be to bring within the tax net a de facto transfer of any immovable property. The expression “enabling the enjoyment of” takes colour from the earlier expression “transferring”, so that it is clear that any transaction which enables the enjoyment of immovable property must be enjoyment as a purported owner thereof the idea is to bring within the tax net, transactions, where, through title may not be transferred in law, there is, in substance, a transfer of title in fact

Ujagar Holdings Pvt. Ltd vs. ITO (ITAT Delhi)

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DATE: May 16, 2016 (Date of pronouncement)
DATE: May 28, 2016 (Date of publication)
AY: 2006-07
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S. 147: Non-furnishing by the AO of reasons recorded for reopening the assessment results in violation of the law laid down in GKN Driveshaft 259 ITR 19 (SC) & renders the reopening void

Despite repeated letters requesting to provide copy of the reasons recorded or the grounds on which the assessment was reopened, no such reasons were provided to the assessee. We find that the DR could not substantiate whether any reasons were provided by the Assessing Officer to the assessee and merely relying on the fact that general practice was followed in Department of supplying reasons, it cannot be presumed that reasons were supplied in the case of the assessee. The Assessing Officer has not complied with the direction of the Hon’ble Supreme Court in the case of GKN Driveshaft (India) limited Vs. CIT (2003) 259 ITR 19 (SC) providing reasons for reassessment within a reasonable time, and therefore respectfully following the decisions cited above, the reassessment completed by the Assessing Officer under section 147 of the Act cannot be sustained in the case of the assessee and quashed

ACIT vs. R.P.G.Credit & Capital Ltd (ITAT Delhi)

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DATE: August 7, 2015 (Date of pronouncement)
DATE: August 13, 2015 (Date of publication)
AY: 2004-05, 2006-07, 2009-10
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CITATION:
Strictures passed against the Dept for ‘mischievous adamancy to attempt to mislead the Tribunal’, ‘obduracy and adamancy in filing meritless appeal’, ‘travesty of justice’, ‘Mocking at the system by filing the appeals’, ‘grave assault on the trust and reputation of fair play enjoyed by the tax administration’ etc

We are pained to address the serious damage done by this deliberate, mischievous and selective reference to facts by such responsible persons which grievously damages the public faith and belief in the honest fair play of the tax administration. The conscious and selective reference to facts demonstrates that at the very stage of filing of the appeal its fate and conclusion was known for which specific purpose the facts were attempted to be obfuscated. The filing of present appeal with complete knowledge of its fate by the Revenue only reflects the mischievous adamancy to attempt to mislead the Tribunal and waste the time of the Court and the officers concerned

Bharat Heavy Electrical Ltd vs. ITO (TDS) (ITAT Delhi)

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DATE: June 19, 2015 (Date of pronouncement)
DATE: July 1, 2015 (Date of publication)
AY: 2010-11 to 2015-16
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CITATION:
S. 253: Appeal in the ITAT can be filed against order of the CIT(A) on a stay application. Stay should be granted if relevant criteria of existence of prima facie arguable case, irreparable loss and financial position are not considered by the CIT(A)

Considering the fact that the issue on merits is yet to be decided by the CIT(A) and being of the view that the findings arrived at in para 5 have not taken into consideration the relevant criteria for deciding the issue namely the existence of prima facie arguable case in favour of assessee or not; irreparable loss if any and the financial position of the assessee etc. as no reference to these settled legal parameters is found mentioned in the order. It also seen that the merits of the order of the Assessing Officer till date have not been tested by any Appellate Authority. Thus, in these peculiar facts and circumstances, we direct the Revenue authorities from refraining to take any co-ercive action against the assessee till the passing of the order of the CIT(A) on merits

ITO vs. M. B. Jewellers P. Ltd (ITAT Delhi)

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DATE: November 14, 2014 (Date of pronouncement)
DATE: December 2, 2014 (Date of publication)
AY: 2000-01
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CITATION:
S. 147/ 151: Reopening mechanically on the basis of material received from another AO is bad. Merely noting "approved" without recording satisfaction is bad

(i) A perusal of the above demonstrates that the AO has not applied his mind so as to come to an independent conclusion that he has reason to believe that the income has escaped assessment during the year. A mere

ADIT vs. M/s I. M. Technologies (ITAT Delhi)

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DATE: November 28, 2014 (Date of pronouncement)
DATE: December 1, 2014 (Date of publication)
AY: 2006-07
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CITATION:
Transfer Pricing: Updated information not available at the time of the TP study but available at the stage of assessment has to be considered by AO

In the light of the facts on record, on a consideration of the same we are of the view that the reliance placed on the data available in the public domain at the time of the assessment proceedings which was

DCIT vs. Aakash Arogya Mindir P.Ltd (ITAT Delhi)

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DATE: November 28, 2014 (Date of pronouncement)
DATE: December 1, 2014 (Date of publication)
AY: 2003-04 to 2008-09
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CITATION:
S. 153C: Whenever a document is found from a person who is being searched the normal presumption is that the said document belongs to that person. It is for the AO to rebut that presumption and come to a conclusion or "satisfaction" that the document in fact belongs to somebody else based on cogent material

On a plain reading of Section 153C, it is evident that the Assessing Officer of the searched person must be “satisfied” that inter alia any document seized or requisitioned “belongs to” a person other than the searched person. It is

Poysha Goyal vs. ACIT (ITAT Delhi)

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DATE: September 5, 2014 (Date of pronouncement)
DATE: November 14, 2014 (Date of publication)
AY: 2007-08
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CITATION:
S. 271(1)(c): No penalty can be levied for a bona fide "wrong" claim which is not a "false" claim

The addition by way of disallowing the depreciation claimed has rightly been made in the quantum proceedings which fact has been accepted by the assessee by filing a revised return and not agitating the issue further. Considering the explanation offered

BMW India Pvt. Ltd vs. ACIT (ITAT Delhi)

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DATE: October 21, 2014 (Date of pronouncement)
DATE: October 29, 2014 (Date of publication)
AY: 2009-10
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CITATION:
“Umbrage” taken in Casio that BMW did not follow L. G. Electronics is based on “wrong head note”. L. G. does not deal with a case of distributor and so there is no conflict with the law laid down therein

In L. G. Electronics 140 ITD 41 (Del)(SB), the Special Bench laid down guidelines on how to determine whether a transfer pricing adjustment for “Advertisement & market Promotion” (“AMP”) expenses had to be made or not. Subsequently, in BMW (AY

PGS Geophysical vs. ADIT (ITAT Delhi)

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DATE: September 26, 2014 (Date of pronouncement)
DATE: October 4, 2014 (Date of publication)
AY: 2008-09
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CITATION:
The DRP shall give clear and speaking directions to the AO for passing the assessment order and the statute ensures that the said power is not delegated to the AO.

A perusal of the above shows that the provisions of section 144C provides the entire mechanism for making a reference to the DRP; the power of the DRP and also the procedures which have to be followed to issue the direction to

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