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Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. – Whether Interest under Section 234B Can Be Levied on Interest Received on Enhanced Land Acquisition Compensation When Liability Was Not Foreseeable
Facts of the Case
Land
belonging to the assessees was acquired by the Government of Haryana under
the Land Acquisition Act, 1894.
The
assessees sought enhancement of compensation before the competen...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. | Section 234B Interest on Enhanced Land Acquisition Compensation – Delhi High Court
Facts of the CaseThe lands belonging to the assessees were acquired by the
Government of Haryana under the Land Acquisition Act, 1894.Dissatisfied with the original compensation, the assessees
sought enhancement before...
Commissioner of Income Tax-IV, New Delhi vs. Insilco Limited (2009) – Deductibility of Long Service Award Provision and Depreciation on Emergency/Insurance Spares under Sections 32 & 145 of the Income Tax Act, 1961
Facts of the CaseInsilco Limited was engaged in the business of manufacturing
spray-dried silica in technical collaboration with a German company.The company introduced a Long Service Award Scheme under
which employees...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. | Section 234B Interest on Enhanced Land Acquisition Compensation – Delhi High Court
Facts of the CaseThe assessees, Anand Prakash and Maha Maya General Finance
Ltd., owned land that had been acquired by the Government. Dissatisfied with
the compensation awarded, the assessees sought enhancement before...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. – Levy of Interest under Section 234B on Interest Received from Enhanced Land Acquisition Compensation
Facts of the CaseThe lands belonging to the assessees were acquired by the
Government of Haryana under the Land Acquisition Act, 1894. Dissatisfied with
the original compensation awarded, the assessees sought enhanceme...
Commissioner of Income Tax-IV, New Delhi vs Insilco Limited (2009) – Deductibility of Long Service Award Provision and Depreciation on Emergency/Insurance Spares under Sections 32 & 145 of the Income Tax Act
Facts of the CaseThe assessee, Insilco Limited, was engaged in the business
of manufacturing spray dried silica in technical collaboration with a German
company.The assessee had introduced a Long Service Award Scheme
...
Legal Position of Unabsorbed Depreciation under the Income Tax Act, 2025 – A Paradigm Shift in Indian Tax Law?
Legal Position of Unabsorbed
Depreciation under the Income Tax Act, 2025 – A Paradigm Shift in Indian Tax
Law?
IntroductionThe treatment of unabsorbed
depreciation has historically been one of the most taxpayer-f...
CBDT Notifies Mandatory Scrutiny Cases for FY 2026-27: Key Categories Every Taxpayer and Professional Should Know
CBDT Notifies Mandatory
Scrutiny Cases for FY 2026-27: Key Categories Every Taxpayer and Professional
Should KnowThe Central Board of Direct Taxes
(CBDT), vide Circular No. F.No.225/56/2026/ITA-II, has prescribed the
...
Income-tax (Amendment) Ordinance, 2026: Major Tax Relief for Foreign Investors in Indian Government Securities
Income-tax (Amendment) Ordinance, 2026: Major Tax Relief
for Foreign Investors in Indian Government SecuritiesIntroductionIn a significant move aimed at enhancing India's
attractiveness as a global investment destinati...
Wealth Creation Through Business Expansion: Government Schemes, Professional Opportunities & Growth Strategies for Sustainable Success in India
Wealth Creation Through Business
Expansion
THE STRATEGIC ROLE OF
PROFESSIONALS, TECHNOLOGY, AND GOVERNMENT INCENTIVES
Executive Summary: Wealth creation is one of ...