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PR. Commissioner of Income Tax-7 vs Oriental Bank of Commerce Ltd. (Now Merged with Punjab National Bank Ltd.) – Delhi High Court | Section 14A, 36(1)(vii), Banking Taxation
Facts of the
CaseThe present appeals were filed by the Revenue
against the order of the Income Tax Appellate Tribunal (ITAT) dated 04.03.2022
concerning Assessment Years 2013-14, 2014-15, and 2015-16.The Tribunal had ...
Suram Trust & Ors. vs Deputy Commissioner of Income Tax, Circle Exemption 1(1), Delhi & Ors. (Delhi High Court, 2023)
Facts of the CaseThe petitioners, being private discretionary trusts, filed
writ petitions challenging the action of the Income Tax Department mandating a
shift from ITR-2 to ITR-5 filing format from Assessment Years 2...
FADA Trading Private Limited vs Income Tax Ward 9(1), Delhi & Ors. | Delhi High Court | W.P.(C) 12044/2023 (2023)
Facts of the
CaseThe petitioner, FADA Trading Private Limited,
deposited a total sum of ₹40,00,000 as self-assessment tax in two installments
(₹10,00,000 and ₹30,00,000). However, due to an inadvertent error whi...
SURAM TRUST & ORS vs DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE EXEMPTION 1(1), DELHI & ORS (2023) – Delhi High Court on ITR Filing Glitches for Private Trusts under Section 119 of Income Tax Act
Facts of the CaseThe petitioners, being private discretionary trusts, were
filing their income tax returns as individual assessees using ITR-2. However,
from Assessment Years 2021–22 and 2022–23, they were required...
Suram Trust & Ors. vs Deputy Commissioner of Income Tax & Ors. (Delhi High Court, 2023) – Issue of ITR Form Change & Loss of Deductions for Private Trusts
Facts of the Case
The
petitioners are private discretionary trusts.
They
were earlier filing returns as individual assessees using ITR-2.
From
Assessment Years 2021–22 and 2022–23, they were...
Principal Commissioner of Income Tax, Central-3, Delhi vs Sunar Jewels Pvt. Ltd. | Delhi High Court | Section 14 IBC & Income Tax Appeal Closure
Facts of the CaseThe appeal was filed by the Revenue against the order dated
12.10.2022 passed by the Income Tax Appellate Tribunal concerning Assessment
Year 2011–12.The Tribunal had closed the Revenue’s appeal on...
RTPL Marketing Private Limited vs Income Tax Officer, Ward-20(3), New Delhi (Delhi High Court, AY 2019–20, Section 148A(d) Reassessment Proceedings Case)
Facts of the CaseThe petitioner, RTPL Marketing Private Limited, was
subjected to reassessment proceedings for Assessment Year 2019–20 based
on suspicious financial transactions flagged by Punjab National Bank.
An
...
Srivenkateshwar Tradex Pvt. Ltd. vs Principal Commissioner of Income Tax & Anr. – Reassessment Proceedings Set Aside Due to Violation of Statutory Time Limit under Section 148A(b) of Income Tax Act, 1961
Facts of the CaseThe petitioner, Srivenkateshwar Tradex Private Limited, was
subjected to reassessment proceedings for Assessment Year 2019–20. The
Assessing Officer issued a notice under Section 148A(b) alleging bog...
Heritage Holidays Pvt. Ltd. vs Assistant Commissioner of Income Tax (Delhi High Court, 2023) – Reassessment u/s 148A Upheld; Issues under Sections 50C, 43CA & 2(47)(v) Examined
Facts of the CaseThe petitioner, Heritage Holidays Pvt. Ltd., filed a
writ petition challenging reassessment proceedings initiated for Assessment
Year 2019–20 under the Income Tax Act, 1961.
A
notice dated 15...
Usha Gupta vs Income Tax Officer, Ward-36(1), Delhi & Ors. (Delhi High Court, 2023) – Reassessment Order Set Aside for Violation of Principles of Natural Justice under Sections 147 & 144B of the Income Tax Act
Facts of the CaseThe petitioner challenged an assessment order dated
18.05.2023 passed under Sections 147 read with 144B of the Income Tax Act for
Assessment Year 2013–14. A show cause notice dated 08.05.2023 was iss...