CIT v. Harish Chander

Commissioner of Income Tax Delhi vs. Ms. Suman Dhamija

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

…ion 45 (5) itself with effect from 1st April 1988 and brought to the enhanced compensation of the tax. The ITAT further accepted the contention of the Assessee following the decision of this Court of CIT v. Harish Chander 154 ITR 473 and CIT v. Devki Nand 138 ITR 225 and held that Section 45 (5) would not applicable as the money had been paid on furnishing of bank guarantee. This Court applied the decision of the Supreme Court in Commissioner of Income Tax v. Ghanshyam (HUF) (supra) and reversed the decision of the ITAT. 55. There are two distinct features as far as the above case is concerned. One i…

Commissioner of Income Tax Delhi vs. Ms Suman Dhamija

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

…The AO applied newly enacted Section 45 (5) itself with effect from 1st April 1988 and brought to the enhanced compensation of the tax. The ITAT further accepted the contention of the Assessee following the decision of this Court of CIT v. Harish Chander 154 ITR 473 and CIT v. Devki Nand 138 ITR 225 and held that Section 45 (5) would not applicable as the money had been paid on furnishing of bank guarantee. This Court applied the decision of the Supreme Court in Commissioner of Income Tax v. Ghanshyam (HUF) (supra) and reversed the decision of the ITAT. 55. There are two distinct features as far as…

Commissioner of Income Tax Delhi vs. Ms Suman Dhamija

…ion 45 (5) itself with effect from 1st April 1988 and brought to the enhanced compensation of the tax. The ITAT further accepted the contention of the Assessee following the decision of this Court of CIT v. Harish Chander 154 ITR 473 and CIT v. Devki Nand 138 ITR 225 and held that Section 45 (5) would not applicable as the money had been paid on furnishing of bank guarantee. This Court applied the decision of the Supreme Court in Commissioner of Income Tax v. Ghanshyam (HUF) (supra) and reversed the decision of the ITAT. 55. There are two distinct features as far as the above case is concerned. One i…

Commissioner of Income Tax Delhi vs. Ms. Suman Dhamija

…The AO applied newly enacted Section 45 (5) itself with effect from 1st April 1988 and brought to the enhanced compensation of the tax. The ITAT further accepted the contention of the Assessee following the decision of this Court of CIT v. Harish Chander 154 ITR 473 and CIT v. Devki Nand 138 ITR 225 and held that Section 45 (5) would not applicable as the money had been paid on furnishing of bank guarantee. This Court applied the decision of the Supreme Court in Commissioner of Income Tax v. Ghanshyam (HUF) (supra) and reversed the decision of the ITAT. 55. There are two distinct features as far as…

Commissioner of Income Tax vs. Sharda Kochhar

The appeal is disposed of,

…3rd July, 1998, passed in the case of K.K. Kochhar. Copy of this order dated 23rd July, 1998 has been placed on record. The said order takes note of the decision of the Delhi High Court in the case of Harish Chander, 154 ITR 473 and CIT Vs. Devki Nand, 138 ITR 225 and it was held that Section 45(5) would not be applicable as the money had been paid on furnishing of bank guarantee etc. 4. The issue in question is in fact covered by the decision of the 2014:DHC:3345-DB ITA 171/2001 Page 4 of 10 Supreme Court in Commissioner…