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Commissioner of Income Tax v. J.K. Synthetics Limited: Distinction Between Capital and Revenue Expenditure for Technical Know-How Licence and Personnel Training Fees under Section 37
Facts of the Case
The
Agreements: The assessee (M/s J.K. Synthetics Limited)
entered into a technical collaboration agreement with M/s Technimont
(Italy) for the manufacture of Acrylic Fibre. It also ...
Commissioner of Income Tax, Delhi-IV, New Delhi vs. Indian Railway Construction Co. Ltd. | Delhi High Court | Sections 80HH, 80-I & 263 of the Income-tax Act, 1961
Facts of the
CaseIndian Railway Construction Company Ltd. (IRCON)
was engaged in the manufacture of a large number of railway-related products,
including sleepers, panels, columns, girders, structures, assemblies,
si...
Commissioner of Income Tax, Delhi vs. R.K. Dhawan: Whether Profit from Sale of Share Portfolio Held as Investment Since 1980 Can Be Reclassified as Business Income Under Section 28 vs. Long-Term Capital Gains Under Section 45 of the Income Tax Act, 1961 Where Separate Accounts Are Maintained
Facts of the Case
The
respondent-assessee had been continuously investing in shares from the
year 1980 up until the assessment year (AY) 1990-91.
During
the relevant assessment year 1992-93, the as...
Commissioner of Income Tax, Delhi-IV v. Indian Railway Construction Company Ltd. (IRCON): Delhi High Court on Sections 80HH and 80-I Deductions, Manufacture vs Construction, and the Impact of N.C. Budharaja
Facts of the
CaseIndian Railway Construction Company Ltd. (IRCON), a
public sector undertaking under the Ministry of Railways, was engaged in manufacturing
a large number of railway-related products and components suc...
Moser Baer India Ltd. & Ors. v. Additional Commissioner of Income Tax & Anr. — Mandate of Oral Hearing and Natural Justice in Transfer Pricing Assessments under Section 92CA(3) of the Income Tax Act, 1961
Facts of the CaseThe case comprises a cluster of six writ petitions filed under
Article 226 of the Constitution of India. The petitioners—comprising Moser
Baer India Ltd., HCL Technologies BPO Services Ltd., HCL Tech...
Commissioner of Income Tax, Delhi vs. R.K. Dhawan: Dismissal of Revenue’s Appeal Under Section 260A Where the Base Order of the ITAT for a Preceding Assessment Year Has Already Been Dismissed by the High Court
Facts of the CaseThe Revenue (Income Tax Department) filed an appeal under
Section 260A of the Income Tax Act, 1961 against the judgment dated April 29,
2003, passed by the Income Tax Appellate Tribunal (ITAT) in ITA N...
Commissioner of Income Tax vs. M/S Praveen Electronics Ltd: Genuine Share Trading Loss vs. Speculation Loss—Delhi High Court Rules on Colourable Devices and Finding of Facts Under Section 260A of the Income Tax Act
Facts of the Case
The
Assessee filed its income tax return for Assessment Year 1996-97,
declaring interest income of ₹38,02,385/-, against which it claimed
administrative and interest expenses, alon...
Commissioner of Income Tax, Delhi-IV, New Delhi vs Indian Railway Construction Company Ltd. | Delhi High Court | Sections 80HH, 80-I & 263 of the Income-tax Act, 1961
Facts of the
CaseIndian Railway Construction Company Ltd. (IRCON)
was engaged in manufacturing a large number of railway track components,
including ballast, concrete sleepers, track laying equipment, relay racks,
si...
Dr. Rakesh Gupta & Ors. v. Commissioner of Income Tax / Revenue Authorities – Setting Aside of Arbitrary Case Transfer Order Under Section 127 of the Income Tax Act, 1961, from Delhi to Meerut Due to Non-Compliance with Legal Due Process
Facts of the Case
The
petitioner approached the Hon’ble Delhi High Court by filing a writ
petition [WP(C) 9073/2008 & CM 17407/2008] challenging an
administrative order dated 26.08.2008.
The
...
Commissioner of Income Tax vs. Assessee — Scope of Section 263 Income Tax Act: Withdrawal of Challenge to Revisionary Jurisdiction While Reserving Rights to Argue Merits Before the ITAT
Facts of the Case
The
Commissioner of Income Tax (CIT) exercised revisionary powers under Section
263 of the Income Tax Act, 1961, for the Assessment Year (AY)
2001-2002 via an order dated March 17, 2...