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Post-Search Assessments & Central Circle Jurisdiction — Challenge to Income-Tax Proceedings Rejected: Delhi High Court in Alankit Insurance Brokers Ltd. v. DCIT (Central Circle-28), 2024
Facts of the
CaseAlankit Insurance Brokers Limited, along with
several group entities and individuals, filed writ petitions before the Delhi
High Court challenging income-tax proceedings initiated pursuant to search a...
Validity of Central Circle Proceedings After Search — Reassessment Notices and Jurisdiction Upheld: Delhi High Court in Alankit Forex India Ltd. v. DCIT (Central Circle-28), 2024
Facts of the CaseAlankit Forex India Limited, along with numerous
connected entities and individuals, filed writ petitions before the Delhi High
Court challenging income-tax proceedings initiated following search...
Reopening & Central Circle Proceedings After Search — Validity of Notices and Jurisdiction Upheld: Delhi High Court in Alankit Finsec Ltd. v. DCIT (Central Circle-28), 2024
Facts of the CaseThe petitions, including that of Alankit Finsec
Limited, arose from income-tax proceedings initiated following search and
investigation actions, after which jurisdiction over the petitioners was
trans...
Section 56(2)(viib) Valuation Dispute — AO Cannot Substitute Assessee’s Chosen DCF Method with NAV Method: Delhi High Court in Agra Portfolio Pvt. Ltd. v. PCIT (2024)
Facts of the CaseThe assessee, Agra Portfolio Pvt. Ltd., allotted
3,15,000 equity shares of face value ₹10 each at a premium of ₹40 per share
during AY 2014-15, aggregating ₹1,26,00,000. For determining Fair Mark...
Delhi High Court Curtails Search-Based Reassessments Without Statutory Compliance — INDO GREENFUEL PVT. LTD. v. ACIT (Central Circle-28), Delhi & Ors., ITA 52/2024 & Connected Matters (03 April 2024)
Facts of the CaseThe writ petitions filed by Indo Greenfuel Pvt. Ltd. formed
part of a large batch of appeals and writ petitions adjudicated together by the
Delhi High Court in ITA 52/2024 and connected matters arising...
Delhi High Court Reinforces Statutory Limits on Search-Based Reassessments — INDO GREENFUEL PRIVATE LIMITED v. ACIT, Central Circle-28, Delhi & Ors. (03 April 2024)
Facts of the CaseThe writ petitions filed by Indo Greenfuel Private Limited
formed part of a large batch of appeals and writ petitions adjudicated together
by the Delhi High Court in ITA 52/2024 and connected matters a...
Delhi High Court Invalidates Search Reassessment Notices Issued Without Jurisdiction — BETSY GROWTH FINANCE LIMITED v. ACIT, Central Circle-28 & Ors. (03 April 2024)
Facts of the
CaseThe writ petition
filed by Betsy Growth Finance Limited was part of a large batch of appeals and
writ petitions adjudicated together by the Delhi High Court in ITA 52/2024 and
connected matters arisi...
Delhi High Court on Search Assessments: Strict Compliance with Sections 153A & 153C Mandatory — ASHUTOSH AGARWAL v. ACIT (Central Circle-28), Delhi & Ors., ITA 52/2024 & Connected Matters (03 April 2024)
Facts of the CaseThe writ petitions filed by Ashutosh Agarwal were part of a
large batch of appeals and writ petitions adjudicated together by the Delhi
High Court in ITA 52/2024 and connected matters arising from sear...
Delhi High Court Reiterates Strict Jurisdictional Limits on Search Assessments — ASHUTOSH AGARWAL v. Assistant Commissioner of Income Tax (Central Circle-28), Delhi & Ors. (03 April 2024)
Facts of the CaseThe writ petitions filed by Ashutosh Agarwal were part of a
large batch of appeals and writ petitions adjudicated together by the Delhi
High Court in ITA 52/2024 and connected matters arising from sear...
Delhi High Court Enforces Jurisdictional Safeguards in Search Assessments: Notices Beyond Statutory Limits Liable to Be Quashed — ANUJ SHARMA v. Assistant Commissioner of Income Tax, Central Circle-28, Delhi & Ors. (03 April 2024)
Facts of the CaseThe writ petitions filed by Anuj Sharma formed part of a large
batch of appeals and writ petitions adjudicated together by the Delhi High
Court in ITA 52/2024 and connected matters arising from search ...