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MAT Credit under Section 115JAA to be Set Off Before Levy of Interest under Sections 234B and 234C – Clarificatory Nature of Finance Act, 2006 Amendments
Facts of the
CaseThe Revenue filed multiple appeals against various
assessees involving a common issue concerning the computation of interest under
Sections 234B and 234C of the Income Tax Act, 1961.The dispute center...
Commissioner of Income Tax-V, New Delhi vs. M/s Nalwa Investment Ltd. – Carry Forward of Assessed Business Loss Despite Revised Claim During Assessment Proceedings under Sections 80, 139(3) & 260A of the Income Tax Act, 1961
Facts of the
CaseM/s Nalwa Investment Ltd., an investment company,
held shares in Jindal Iron & Steel Co. Ltd. (JISCO). JISCO launched a
rights issue of Secured Redeemable Non-Convertible Debentures (SRNCDs) after...
Commissioner of Income Tax vs. Cosmo Films Limited (ITA No. 801/2008) – Delhi High Court | MAT Credit Set-Off Before Levy of Interest under Sections 234B & 234C
Facts of the
CaseThe Revenue challenged several orders of the Income
Tax Appellate Tribunal wherein the Tribunal had held that MAT credit available
under Section 115JAA should be given effect before computing interest...
Commissioner of Income Tax v. M/s Nestle India Ltd. & Connected Matters (Delhi High Court) – MAT Credit under Section 115JAA to be Set Off Before Charging Interest under Sections 234B & 234C; Section 154 Not Invocable on Debatable Issue
Facts of the
CaseThe Revenue filed multiple appeals challenging
orders of the Income Tax Appellate Tribunal which had held that MAT credit
available under Section 115JAA should be adjusted before computing interest
u...
Commissioner of Income Tax vs. M/s Jindal Exports Ltd. & Connected Matters (Delhi High Court) – MAT Credit under Section 115JAA to be Set Off Before Levy of Interest under Sections 234B and 234C
Facts of the
CaseSeveral appeals involving different assessees were
heard together because all raised a common legal issue relating to MAT credit
under Section 115JAA.The assessees had MAT credit available from ...
Taneja Developers & Infrastructure Ltd. vs Assistant Commissioner of Income Tax & Others | Stay of Tax Demand in High-Pitched Assessment 350 Times Higher Than Returned Income | Delhi High Court
Facts of the
CaseThe petitioner, Taneja Developers & Infrastructure
Ltd., filed its income tax return for Assessment Year 2005-06 declaring a total
income of ₹46,41,070. Subsequently, the Assessing Officer passe...
Commissioner of Income Tax v. Gujarat Guardian Limited [2009:DHC:243-DB] – Delhi High Court
Facts of the
CaseThe Commissioner of Income Tax preferred an appeal
before the Delhi High Court under Section 260A of the Income-tax Act, 1961
against the judgment dated 05.10.2007 passed by the Income Tax Appellate
...
Commissioner of Income Tax v. Assessee Group Cases (ITA Nos. 1048/2008 to 1055/2008) – Appeals Dismissed as Infructuous Following Dismissal of Revenue's Connected Appeals | Delhi High Court
Facts
of the Case
Multiple Income Tax
Appeals (ITA Nos. 1048/2008 to 1055/2008) were filed before the Delhi High
Court.
These appeals were
connected with Revenue appeals arising from the same judgm...
Batch of Income Tax Appeals (ITA Nos. 1048/2008 to 1055/2008) v. Commissioner of Income Tax – Delhi High Court Dismisses Appeals as Academic Following Dismissal of Connected Revenue Appeals (2009:DHC:9835-DB)
Facts of the Case
Multiple Income Tax Appeals were heard together as they arose from the same
judgment. During the pendency of these appeals, the connected appeals preferred
by the Revenue were decided and dismissed b...
Commissioner of Income Tax v. Assessee (ITA No. 1048/2008 to 1055/2008) – Appeals Dismissed as Academic Following Dismissal of Revenue Appeals | Delhi High Court
Facts
of the Case
Multiple Income Tax
Appeals bearing ITA Nos. 1048/2008 to 1055/2008 were listed before the
Delhi High Court.
These appeals arose out
of the same judgment that had also been challe...