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Commissioner of Income Tax vs. M/s Kavitra Silk & Sarees: Deletion of Section 271(1)(c) Penalty on Bonafide Section 80HHC Claims Based on Chartered Accountant's Report
Facts of the CaseThe respondent-assessee filed its original return of income
claiming a deduction under Section 80HHC of the Income Tax Act, 1961. This
claim was supported by a formal report issued by a Chartered Accou...
Commissioner of Income Tax vs M/s Honeywell Dace India Ltd. (Delhi High Court) – Penalty under Section 271(1)(c) Not Leviable Merely Because Loss Claim Could Not Be Substantiated
Facts of the CaseFor Assessment Year 2001-02, the respondent-assessee filed its
return declaring a loss. The return included a claim relating to loss arising
from the sale of shares.The Assessing Officer disallowed the...
Commissioner of Income Tax vs. M/S NHK Japan Broadcasting Corp. | Section 271C Penalty Deletion for Non-Deduction of TDS under Section 192 on Expatriate Salary: Delhi High Court
Facts
of the Case
The assessee, M/S
NHK Japan Broadcasting Corp., did not deduct tax at source (TDS) under Section
192 of the Income-tax Act, 1961, on the retention money paid outside India to
Japanese expatriates...
Sanjeev Malhotra Vs. The Commissioner of Income Tax: Actual Export and Custom Clearance as Conditions Precedent for Claiming Deduction Under Section 80HHC of the Income Tax Act, 1961
Facts of the Case
For
the Assessment Year 1998-99, the appellant-assessee (Sh. Sanjeev Malhotra)
filed an income tax return declaring an income of ₹11,56,780/- after
claiming a substantial deduction...
Commissioner of Income Tax vs. M/s TEI Quebecor Printing Ltd. (2006) – TDS on Salary under Section 192 Not Applicable Without Actual Payment of Salary | Sections 192, 201(1) & 201(1A) Income Tax Act
Facts of the CaseM/s TEI Quebecor Printing Ltd., a joint venture
company, employed Mr. Lester Garnett, a Canadian national, on a fixed
remuneration package that included rent-free accommodation, a car with driver...
Commissioner of Income Tax, Delhi v. M/s Chitra Utsav Video P. Ltd. (2005): Applicability of Penalty under Section 271(1)(c) of the Income Tax Act, 1961 on Assessed Losses Post-1976 Explanation 4 Amendment
Facts of the
CaseThe Revenue
(Commissioner of Income Tax, Delhi) filed an appeal against the order of the
Income Tax Appellate Tribunal (ITAT) concerning the assessee, M/s Chitra Utsav
Video P. Ltd. The ITAT had dele...
Director of Income Tax (Exemption) vs M/s Eternal Science of Man’s Society (Delhi High Court) – Accumulation of Income for Multiple Charitable Objects Permissible under Section 11(2) of the Income-tax Act
Facts of the CaseThe respondent-assessee, a charitable society/trust,
accumulated a portion of its income for six specified charitable objects out of
a total of twenty-two charitable objects contained in its memorandum...
CIT v. M/s Samman Steel & Rolling Mill: Maintainability of Penalty Under Section 271(1)(c) on Loss Returns and the Impact of Explanation 4 Post-1976 Amendment
Facts of the CaseThe Revenue filed an appeal (ITA 1060/2005) against the order
of the Income Tax Appellate Tribunal (ITAT) before the High Court of Delhi. The
ITAT had deleted the penalty imposed on the assessee, M/s S...
Commissioner of Income Tax vs. M/s Coral Newsprint Ltd. — Whether Penalty Under Section 271(1)(c) of the Income Tax Act, 1961 Can Be Deleted Merely Because the Total Income Is Assessed at a Loss/Minus Figure After the Insertion of Explanation 4?
Facts of the Case
The
revenue filed an appeal (ITA 1112/2005) before the High Court of Delhi
against the order of the Income Tax Appellate Tribunal (ITAT).
The
ITAT had deleted the penalty imposed o...
M/s International Marketing Ltd. vs Income Tax Officer, Company Ward (Delhi High Court) – Interest on Surplus Funds Taxable as Income from Other Sources under Section 56 of the Income Tax Act, 1961 | No Business Activity During Assessment Year
Facts of the CaseThe assessee-company had not carried on any business activity
during the relevant assessment year. However, it had parked its surplus funds
with various companies and earned interest income therefrom.T...