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Commissioner of Income Tax, Delhi-IV vs. Gupta Abhushan Pvt. Ltd. | Validity of Reopening of Assessment Under Section 147 Based on Mere Suspicion and Extrapolation of Survey Findings to Past Assessment Years
Facts of the Case
The
respondent-assessee filed its income tax returns for the Assessment Years
(AY) 1999-2000, 2000-2001, and 2001-2002, which were initially processed
under Section 143(1) of the Inc...
Commissioner of Income Tax vs. M/s. Oswal Agro Mills Ltd. (and Oswal Chemicals & Fertilizers Ltd.) | Allowance of Depreciation under Section 32 on Temporary Closed Business Unit Forming Part of "Block of Assets"
Facts of the Case
The
respondent-assessee claimed a depreciation of ₹9.31 Crores for the
Assessment Year 1998-99 on its various capital assets.
This
claim included depreciation on its factory man...
Commissioner of Income Tax, Delhi-IV vs. Gupta Abhushan Pvt. Ltd. | Validity of Re-opening Assessment Under Section 147/148 of Income Tax Act, 1961 Based on Post-Survey Extrapolations: Reason to Believe vs. Reason to Suspect
Facts of the Case
The
respondent-assessee filed its original income tax returns for the
Assessment Years (AY) 1999-2000, 2000-2001, and 2001-2002, which were
processed under Section 143(1) of the Inco...
Commissioner of Income Tax v. V.J. Strips Ltd. | Delhi High Court | ITA Nos. 890/2008, 960/2008 & 1029/2008 | Rule of Consistency in Income Tax Proceedings
Facts of the Case
The Income Tax Appellate Tribunal had passed orders in favour of
the assessee.
The Tribunal relied upon its earlier decisions concerning
Assessment Years 1989-90 to 1995-96.
No a...
Commissioner of Income Tax v. M/s Ahuja Radios: Inclusion of MODVAT Credit in Total Turnover for Section 80HHC Income Tax Deductions — Delhi High Court Case Law
Facts of the Case
Assessee
Profile: The respondent-assessee, M/s Ahuja Radios,
is engaged in the manufacturing and sale of public address equipment,
including amplifiers, microphones, and loudspeakers...
Commissioner of Income Tax (TDS) v. Bhasin Motors India Pvt. Ltd. – Appeals Dismissed Due to Low Tax Effect and Applicability of CBDT Monetary Limit Circular
Facts of the
CaseBhasin Motors India Pvt. Ltd. had entered into an
arrangement with West Delhi Automobiles Pvt. Ltd. The Revenue disputed the tax
treatment arising from this arrangement and preferred several appeals b...
Delhi High Court Dismisses Revenue Appeals Due to Low Tax Effect Below CBDT Monetary Limit | ITA Nos. 743/2008, 744/2008, 745/2008 & 753/2008
Facts of the
CaseThe Revenue preferred four Income Tax Appeals
before the Delhi High Court. During the hearing, the Court examined the tax
effect involved in the appeals and found that the tax effect in each appeal wa...
Commissioner of Income Tax, Delhi-X vs. M/S Ahuja Radios — Whether MODVAT Credit and Excise Duty are Excludable from 'Total Turnover' for Computing Export Deduction Under Section 80HHC of Income Tax Act, 1961: Delhi High Court Judgment
Facts of the Case
The
Assessee: M/S Ahuja Radios is involved in the
manufacture and sale of public address equipment, including amplifiers,
microphones, and loudspeakers.
The
Claim: The asses...
M/S Hindustan Industrial Resources Ltd. Vs. The Assistant Commissioner of Income Tax: Merely Holding Land for Future Industrial Use with No Agricultural Activity Does Not Alter Its Agricultural Character to Tax Capital Gains under Section 2(14)(iii) of Income Tax Act, 1961
Facts of the Case
The
appellant-assessee, M/S Hindustan Industrial Resources Ltd., purchased a
piece of land situated in Tugalpur, Tehsil of Greater Noida, on March 15,
1989, with the future intention...
Commissioner of Income Tax vs Assessee (ITA Nos. 743/2008, 744/2008, 745/2008 & 753/2008) – Delhi High Court Dismisses Appeals Due to Low Tax Effect Below CBDT Monetary Limit
Facts of the
CaseThe Income Tax Department filed four separate
appeals before the Delhi High Court challenging the orders passed by the lower
appellate authorities. During the proceedings, it was observed that the tax...