NEW DELHI TELEVISION LIMITED vs ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 13 NEW DELHI & ANR.

Judgment text excerpt

$~7 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 29.01.2025 + ITA 204/2020 & CM APPL. 26872/2020 (For Direction) NEW DELHI TELEVISION LIMITED .....Appellant Through: Mr. Sachit Jolly, Sr. Adv. with Ms. Soumya Singh, Ms. Disha Jham & Mr. Devansh Jain, Advs. versus ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 13 NEW DELHI & ANR. .....Respondents Through: Mr. Indruj Singh Rai, SSC with Mr. Sanjeev Menon, Mr. Rahul Singh, JSCs, Mr. Anmol Jagga & Mr. Gaurav Kumar, Advs. CORAM: HON'BLE MR. JUSTICE YASHWANT VARMA HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR JUDGMENT YASHWANT VARMA, J. (Oral) 1. New Delhi Television Limited1- the assessee is in appeal and impugns the validity of the judgment of the Income Tax Appellate Tribunal2 dated 16 June 2020. We had by our order dated 09 February 2024 admitted this appeal on the following questions of law: “(a) Whether, on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal ["ITAT"] erred in restoring the issue pertaining to the addition/adjustment 1 NDTV 2 Tribunal ITA 204/2020 Signature Not Verified Page 1 of 9 Digitally Signed By:KAMLESH KUMAR Signing Date:03.02.2025 17:54:24 made qua alleged corporate guarantee to the file of the Assessing Officer ["AO"]? (b) Whether on the facts and in the circumstances of the case and in law, the ITAT erred in completely ignoring the binding order dated 24 August 2017 passed by the Special Bench of the ITAT (confirmed by this Court) which held that the subject transaction was an undertaking which was short of a corporate guarantee?” For the purposes of evaluating the challenge which stands raised, we deem it appropriate to take notice of the following facts. 2. The appeal is concerned with Assessment Year3 2008-09 and where in the cour