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CIT vs. M/s Trak Services P. Ltd.: Decoding Penalty Under Section 271(1)(c) for Assessed Losses
Facts
of the CaseThe Revenue (Commissioner of Income
Tax) filed an appeal before the High Court of Delhi against an order passed by
the Income Tax Appellate Tribunal (ITAT). The ITAT had previously deleted the
penalt...
Commissioner of Income Tax vs M/s General Sales Ltd. – Deduction Under Section 80HHC of the Income Tax Act, 1961 and Allocation of Direct and Indirect Expenses for Export Business
Facts of the CaseThe Revenue challenged the order dated 12 June 2003 passed
by the Income Tax Appellate Tribunal relating to Assessment Year 1992-93. The
dispute concerned the assessee’s claim for deduction under Sec...
Commissioner of Income Tax vs. M/S Hi Tech Gears Ltd.: Deciphering Penalty under Section 271(1)(c) when Assessed at a Loss
Facts
of the CaseThe Income Tax Appellate Tribunal
(ITAT) had deleted the penalty imposed under Section 271(1)(c) of the Income
Tax Act, 1961. The basis for this deletion was the assessee's contention that
their tota...
Commissioner of Income Tax vs M/s Unipatch Rubber Ltd. Deduction of Excise Duty on Closing Stock under Section 43B of the Income Tax Act 1961
Facts of the CaseThe assessee, M/s Unipatch Rubber Ltd., had paid excise duty
on goods manufactured by it. However, those goods had not been sold during the
relevant previous year and formed part of the closing stock. ...
Commissioner of Income Tax vs. M/s Bharat Hotels Ltd.: Applicability of Penalty under Section 271(1)(c) when Assessed Income is a Loss
Facts
of the Case·
The Revenue (Commissioner of Income
Tax) filed an appeal before the High Court of Delhi challenging an order of the
Income Tax Appellate Tribunal (I...
Anand & Anand vs. Commissioner of Income Tax: Crucial Interpretation of Section 80-O of the Income Tax Act Regarding Tax Deduction on Foreign Receipts for Legal Services Rendered "In" India vs. "From" India – Delhi High Court Ruling
Facts of the Case
The
Assessee's Profile: The appellant, M/s Anand & Anand,
is a leading Indian partnership firm consisting of legal practitioners who
specialize in intellectual property rights, i...
Josoka India Ltd. vs. Commissioner of Income Tax: Delhi High Court Remand Order on Ex-Parte Tribunal Decisions and Principles of Natural Justice under Section 254 of the Income Tax Act
Facts of the Case
Ex-Parte
Disposal: The Income Tax Appellate Tribunal (ITAT)
passed an appellate order against the assessee, Josoka India Ltd., on an ex-parte
basis.
Service
of Notice: The T...
Commissioner of Income Tax vs. Moser Baer India Ltd. | Maintainability of Penalty Under Section 271(1)(c) on Assessed Loss or Minus Income
Facts
of the Case·
The revenue filed an appeal, registered
as ITA 333/2005, before the High Court of Delhi against the respondent, Moser
Baer India Ltd.. · ...
COMMISSIONER OF INCOME TAX vs M S HINDUSTAN MGMT AND TECHNICAL CONSULTANTS PVT LTD – Conversion of Investment into Stock in Trade and Allowability of Business Loss under Income Tax Act
Facts of the CaseThe assessee was engaged in the business of electronic data
processing, technical analysis of data, and providing computer systems. The
assessee had originally purchased shares of IDM Ltd. as an invest...
Commissioner of Income Tax vs. M/s Coolage Beverages Ltd. | Penalty under Section 271(1)(c) of Income Tax Act Cannot Be Imposed Merely for Disallowance of a Claim Where Full and Accurate Facts are Disclosed by Assessee
Facts of the Case
The
Assessee, M/s Coolage Beverages Ltd., filed its income tax return making
certain claims for deductions/declarations.
The
Assessing Officer (AO) did not agree with the treatmen...