THE COMMISSIONER OF INCOME TAX-II vs. MORGAN SECURITIES & CREDITS PVT. LTD.

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ITA/589/2014HC Delhi15 September 20153 pages
AI SummaryDismissed

What did the High Court hold?

The Delhi High Court held that Rule 8D of the Income Tax Rules, 1962 is not retrospective. This decision was based on a prior ruling by the same court in Maxopp Investment Ltd. v. Commissioner of Income Tax.

What were the facts?

The Revenue filed appeals against ITAT orders concerning assessment years 2006-07 and 2007-08. The core issue was the applicability of Rule 8D of the Income Tax Rules, 1962.

What were the issues?

The primary legal issue was whether Rule 8D of the Income Tax Rules, 1962, should be applied retrospectively or prospectively.

Which sections of the Income-tax Act were involved?

Rule 8D

AI-generated summary — verify with the full judgment below

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$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI

15.

+

ITA 589/2014

THE COMMISSIONER OF INCOME TAX-II ..... Appellant Through: Mr Rohit Madan, Senior Standing Counsel with Mr Zoheb Hossain, Advocate.

versus

MORGAN SECURITIES & CREDITS PVT. LTD. ..... Respondent Through: Mr Simran Mehta and Mr Prabhat Kalia, Advocates.

AND 16. +

ITA 590/2014

THE COMMISSIONER OF INCOME TAX DELHI-II

..... Appellant Through: Mr Rohit Madan, Senior Standing Counsel with Mr Zoheb Hossain, Advocate.

versus

MORGAN SECURITIES & CREDITS PVT. LTD. ..... Respondent Through: Mr Parag P. Tripathi, Senior Advocate with Mr Simran Mehta and Mr Prabhat Kalia, Advocate.

ITA 589/2014 & 590/2014

Page 1 of 3 This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 05/04/2026 at 22:26:43

CORAM: HON'BLE DR. JUSTICE S.MURALIDHAR HON'BLE MR. JUSTICE VIBHU BAKHRU

O R D E R %

15.09.2015 CM No.14990/2014 in ITA 590/2014 1. For the reasons stated in the application, the delay of 200 days in re-filing the appeal is condoned. 2. The application stands disposed of. ITA 589/2014 ITA 590/2014 3. These are appeals filed by the Revenue against the order dated 31st January, 2014 passed by the Income Tax Appellate Tribunal (‘ITAT’) in ITA No.5527/Del/2010 for Assessment Year (‘AY’) 2006-07 and against the order dated 29th February, 2012 passed by the ITAT in ITA No.1402/Del/2011 for AY 2007-08. 4. The common question that is urged in both appeals by the Revenue is whether Rule 8D of the Income Tax Rules, 1962 is prospective? The said question stands answered against the Revenue and in favour of the Assessee

ITA 589/2014 & 590/2014

Page 2 of 3 This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 05/04/2026 at 22:26:43

by the decision of this Court in Maxopp Investment Ltd. v. Commissioner of Income Tax, (2012) 347 ITR 272 (Del). 5. Consequently, no substantial question of law arises in these appeals. 6. The appeals are dismissed.

S.MURALIDHAR, J

VIBHU BAKHRU, J SEPTEMBER 15, 2015 MK

ITA 589/2014 & 590/2014

Page 3 of 3 This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 05/04/2026 at 22:26:43

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