![Delhi HC sets aside Reassessment u/s 147 of Income Tax Act Triggered based on Change in Opinion about Nature of Transaction [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Delhi-High-Court-Reassessment-Income-Tax-Act-Nature-of-Transaction-Income-Tax-TAXSCAN.jpg "Delhi HC sets aside Reassessment u/s 147 of Income Tax Act Triggered based on Change in Opinion about Nature of Transaction [Read Order]")
Delhi HC sets aside Reassessment u/s 147 of Income Tax Act Triggered based on Change in Opinion about Nature of Transaction [Read Order]
The Delhi High Court set aside reassessment under section 147 of the Income Tax Act, 1961 triggered based on the change in opinion about the nature...
![Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Act-Absence-of-Borrowed-Fund-Borrowed-Fund-Books-of-Accounts-Delhi-High-Court-TAXSCAN.jpg "Disallowance u/s 14 A of Income Tax Act not warranted in Absence of Borrowed Fund in Books of Accounts: Delhi HC [Read Order]")
![Income Tax Dept can proceed against Employer for Recovery of Deducted Tax from Employee: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/12/Income-Tax-Dept-Employer-Recovery-of-Deducted-Tax-Employee-Delhi-HC-TAXSCAN.jpg "Income Tax Dept can proceed against Employer for Recovery of Deducted Tax from Employee: Delhi HC [Read Order]")
Assessment Order passed before Extended Time as Prescribed by CBDT Circular: Delhi HC sets aside Final Assessment Order [Read Order]
The Delhi High Court set aside the final assessment order as the same was passed before extended time as prescribed by the Central Board of Direct Taxes (CBDT) Circular. Kunal Sharma, senior...
Assessment Order can't be framed without issuing a Notice u/s 143(2) of Income Tax Act: Delhi HC [Read Order]
The Delhi High Court held that the assessment order cannot be framed without issuing a notice under Section 143(2) of the Income Tax Act, 1961. The appellant/revenue, concededly, had not issued a...
![Assessment Order cant be framed without issuing a Notice u/s 143(2) of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Assessment-Order-Delhi-High-Court-tax-news-taxscan.jpg "Assessment Order cant be framed without issuing a Notice u/s 143(2) of Income Tax Act: Delhi HC [Read Order]")
Rs. 50 Lakhs Cash Seized on Search u/s132 of Income Tax: Delhi HC directs to Treat Seized Cash as Advance Tax [Read Order]
The Delhi High Court in a recent case held that cash seized on search under section 132 of the Income Tax Act, 1961 can be treated as advance tax. The department had seized 50 Lakhs Cash from the...
![Rs. 50 Lakhs Cash Seized on Search u/s132 of Income Tax: Delhi HC directs to Treat Seized Cash as Advance Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Cash-Seized-on-Search-Cash-Cash-Seized-Seized-on-Search-Income-Tax-Delhi-High-Court-High-Court-taxscan.jpg "Rs. 50 Lakhs Cash Seized on Search u/s132 of Income Tax: Delhi HC directs to Treat Seized Cash as Advance Tax [Read Order]")
Application for Compounding Offences u/s 276C(1) and 277 of Income Tax Act Rejected on Non-Filing of Complete Bank Statement: Delhi HC directs to Consider Application [Read Order]
The Delhi High Court directed to consider the application for compounding offences under sections 276C(1) and 277 of the Income Tax Act, 1961 which was rejected on non-filing of a complete bank...
![Application for Compounding Offences u/s 276C(1) and 277 of Income Tax Act Rejected on Non-Filing of Complete Bank Statement: Delhi HC directs to Consider Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Bank-Statement-Non-Filing-Delhi-HC-directs-to-Consider-Application-directs-to-Consider-Application-Consider-Application-Delhi-High-Court-TAXSCAN.jpg "Application for Compounding Offences u/s 276C(1) and 277 of Income Tax Act Rejected on Non-Filing of Complete Bank Statement: Delhi HC directs to Consider Application [Read Order]")
Delhi HC declares CBDT Instruction dated 11th May 2022 to the Extent which Propounds 'Travel back in Time' theory Bad in Law [Read Order]
The Delhi High court has observed that the reference made in paragraphs 6.1 and 6.2(ii) of the Instruction No. 01 of 2022 dated 11.05.2022, to the extent it propounds the “travel back in time”...
Delhi HC Upholds Deletion of Rs. 4 Crore Addition for Unexplained Investments, dismisses Revenue’s Appeal
The Delhi High Court upheld the decision of the Income Tax Appellate Tribunal (ITAT) in deleting the addition of Rs. 4 crore for unexplained investments under Section 69 of the Income Tax Act, 1961. ...
Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]
The Delhi Bench of High court has upheld the deletion of addition under Section 68 of Income Tax ACT 1961 holding that creditworthiness could be ascertained only from availability of funds and not...
![Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/11/Creditworthiness-Ascertained-only-from-Availability-of-Funds-Period-of-Existence-and-Revenue-Earning-Delhi-HC-upholds-Deletion-of-Addition-TAXSCAN.jpg "Creditworthiness can be Ascertained only from Availability of Funds and not from Period of Existence and Revenue Earning: Delhi HC upholds Deletion of Addition u/s 68 [Read Order]")