COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-1, NEW DELHI vs GENPACT SERVICES LLC

Judgment text excerpt

$~62 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision : 07.05.2025 + ITA 133/2025 & CM APPL. 27602/2025(Exemption) COMMISSIONER OF INCOME TAX (INTERNATIONAL TAXATION)-1, NEW DELHI .....Appellant Through: Mr Puneet Rai, SSC, Mr Ashvini Kumar and Mr Rishabh Nangia, SCs and Mr Nikhil Jain, Advocate. versus GENPACT SERVICES LLC .....Respondent Through: CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TEJAS KARIA VIBHU BAKHRU, J. (ORAL) CM APPL. 27603/2025(for condonation of delay of 196 days in re-filing the appeal) 1. For the reasons stated in the application, the delay in re-filing the above captioned appeal is condoned. 2. The application stands disposed of. ITA 133/2025 3. The Revenue has filed the present appeal, impugning an order dated 06.06.2024 passed by the learned Income Tax Appellate Tribunal [ITAT] in ITA No. 899/Del/2018 in respect of Assessment Year [AY] 2010-11, whereby the Revenue’s appeal against an order dated 01.11.2017 passed by Signature Not Verified Digitally Signed By:RAM ITA 133/2025 Page 1 of 6 KUMAR Signing Date:14.05.2025 15:50:41 the Commissioner of Income Tax (Appeals)-42, New Delhi [CIT(A)], was rejected. 4. The Assessee had appealed before the CIT(A) against the penalty order dated 27.03.2017 passed by the Assessing Officer [AO], imposing a penalty under Section 271(1)(c) of the Income Tax Act, 1961 [the Act] holding that the Respondent (Assessee) had wilfully attempted to reduce his income and, therefore, it was a fit case for imposition of penalty. 5. The Assessee had filed its return of income for AY 2010-11, declaring a loss of ₹3,89,17,092/- and subsequently revised the return on 27.12.2011, declaring a total loss of ₹6,78,78,188/-. The return was picked up for scrutiny, and the assessment proceedings culminated in