Delhi High Court (DHC) in Fortis Healthcare: Taxability of Reimbursement for Sharing Common Services with Other concerns:  ITA 8/2009 : In aforesaid ruling, DHC has interalia concluded that reimbursement received from other concern with whom certain facilities were shared, on cost to cost basis (without mark up), is not taxable as income as otherwise also if same is taxed as income, net result will be ZERO, income being squarely off set by equivalent expenses.

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Delhi High Court in Chemical Design : ITA No. 803/2008 : Section 14A Proportionate Disallowance on Ad Hoc Basis AY 2001-2002- Held Not Permissible (15/7/2008) : In aforesaid ruling, DHC in a fact situation where assessee was running business centre and was also earning dividend income and where assessee claimed NIL expense in relation to earning of dividend income, has affirmed underlying ITAT and CIT-A ruling whereby it was held that without any cogent basis and material on record, no artificial disallowance is permissible for expenses, finding merit in assessee's contention that no separate office/expenses is required for making share investment.

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Delhi High Court (DHC) in Indo Rama Synthetics ITA 16/2009 : Valuation of Closing Stock : Bonafide Change -  Irrespective of Revenue Detrimental Effect – Held Allowed : In aforesaid ruling, DHC has interalia concluded that change in valuation of stock in view of recommendation of ICAI, irrespective of the fact that it is detrimental to revenue in year of change, being bonafide is allowed under the Act. Further, it is observed by DHC that since changed method is consistently followed year after year, it impact will get neutralized over the years. In relation to valuation of stock in general, DHC has observed that so long as stock valuation method adopted gets recognition from commercial world and practicing accountants, unless the same is found to be non Bonafide, the method cannot be challenged by revenue, as choice to follow valuation method rests with the assessee.

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Delhi High Court in Continental Air Express ITA 967/2008 : Impact of Set Aside Assessment – On Concealment Penalty Imposed : Held Penalty Do Not Survive : In aforesaid ruling, DHC in a fact situation where in quantum/merit appeal, as issue is restored to file of Assessing Officer (AO) and penalty stands levied before the restoration of issue, it is concluded that subject penalty levied will not survive.

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Delhi High Court in Maruti Suzuki WP 405/2009: Disposed Assessee's Writ Petition directing revenue to give opportunity to assessee before making set-off of penalty demand  

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