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Pr. Commissioner of Income Tax-6 vs Minda SM Technocast Pvt. Ltd. – Applicability of Rule 11UA for Share Valuation under Section 56 (AY 2014-15)
Facts of the Case
The
assessee purchased 48% equity shares of Tuff Engineering Pvt. Ltd.
(TEPL) at ₹5 per share.
A
Chartered Accountant valuation report determined the fair market value at
...
Mansi Garg & Ors. vs Commissioner of Income Tax & Ors. | Delhi High Court | Wrongful Property Attachment under Income Tax Proceedings
Facts of the CaseThe petitioners approached the High Court seeking relief
against an attachment notice dated 15.03.2010 issued by the Income Tax
Department. The notice wrongly treated the entire property located at C-2...
Max Life Insurance Company Limited vs Assistant Commissioner of Income Tax Circle-10(1), Delhi & Another – Refund of Excess Tax Recovery Beyond 20% Demand | Delhi High Court Judgment (2023)
Facts of the Case
The
petitioner, Max Life Insurance Company Limited, faced a tax demand of
approximately ₹221 crores for AY 2017–18.
The
Revenue adjusted refunds from earlier years (AY 2013–...
PR. Commissioner of Income Tax (Central-3) vs ARN Infrastructure Ltd. – Addition Based Solely on Statement under Section 133A Unsustainable | Delhi High Court
Facts of the CaseThe respondent/assessee, ARN Infrastructure Ltd., is engaged
in real estate development and construction across NCR. It entered into an
agreement with Real Gain Estates Pvt. Ltd., appointing it a...
M/s Om Shiva Traders Pvt. Ltd. vs Income Tax Officer Ward 13(4), New Delhi & Anr. – Delhi High Court | Section 68 Income Tax Act | Non-Speaking ITAT Order Set Aside
Facts of the CaseThe assessee, M/s Om Shiva Traders Pvt. Ltd., received ₹3
crores in the form of share capital and share premium during Assessment Year
2008–09. The investments were made by two entities:
₹2
...
PR. Commissioner of Income Tax-7, Delhi vs Xerox India Ltd. (Previously Known as Xerox Modicorp Ltd.) – Delhi High Court | AY 2009-10 | AMP Adjustment & International Transaction
Facts of the CaseThe present appeal was filed by the Revenue (Appellant) before
the Delhi High Court challenging the order dated 19.10.2022 passed by the
Income Tax Appellate Tribunal (ITAT) concerning Assessment Year ...
PR. Commissioner of Income Tax-7, Delhi vs Meera Gupta (ITA 403/2023, 405/2023 & 406/2023) – Delhi High Court | No Addition Without Incriminating Material in Completed Assessments (Section 153A)
Facts of the CaseThe Revenue (Appellant) filed appeals before the Delhi High
Court against the order of the Income Tax Appellate Tribunal (ITAT) dated
12.10.2022 concerning Assessment Years (AYs) 2009-10, 2011-12, and ...
Jindal Stainless Ltd vs Deputy Commissioner of Income Tax & Ors (Delhi High Court, 2023) – Refund Adjustment Beyond 20% Held Illegal under Section 245 of Income Tax Act
Facts of the CaseThe petitioner, Jindal Stainless Ltd, challenged the action of
the Income Tax Department in adjusting refunds due for Assessment Year (AY)
2022–23 against outstanding demands relating to AYs 2011–1...
Turner General Entertainment Networks India Pvt. Ltd. vs Commissioner of Income Tax & Anr. (Delhi High Court, 2023)
Facts of the Case
The
petitioner, Turner General Entertainment Networks India Pvt. Ltd., claimed
refunds for Assessment Years 2009–10 to 2012–13.
The
total refund amount, including interest, wa...
Religare Advisors Limited vs Assistant Commissioner of Income Tax & Ors. (Delhi High Court, 2023) – Invalid Return under Section 139(9) Set Aside
Facts of the CaseThe petitioner, Religare Advisors Limited (formerly
Religare Wealth Management Limited), filed its income tax return for
Assessment Year (AY) 2018–19 on 15.10.2018 under its old name.Subsequently:
...