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Commissioner of Income Tax vs. Assessee Company – Share Application Money Received from Identified Shareholders Cannot Be Treated as Undisclosed Income of the Company Under Section 68 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The assessee company received share application money from various
shareholders.
During assessment proceedings, the Assessing Officer questioned the
genuineness of the share capital rec...
Commissioner of Income Tax vs. Assessee Company – Share Application Money Received from Identified Shareholders Cannot Be Treated as Undisclosed Income of the Company Under Section 68 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The assessee company received share application money from various
shareholders.
During assessment proceedings, the Assessing Officer questioned the
genuineness of the share capital rec...
Commissioner of Income Tax vs. Sophisticated Marbles & Granite Industries – Marble Processing, Polishing and Finishing Activities Constitute “Manufacture” under the Income-tax Act (Delhi High Court)
Facts of the
CaseThe assessee was engaged in the business of
manufacture and sale of marble products.After purchasing marble blocks or slabs, the
assessee undertook various processes including:
Cutting of blocks int...
Commissioner of Income Tax v. Suresh Kumar Mittal | Reassessment under Sections 147/148 and Addition under Section 69D of the Income-tax Act, 1961 – Delhi High Court
Facts of the
CaseBased on intra-departmental information received by
the Assessing Officer (AO), a search was conducted on 15.12.1997 in the case of
Mr. Kamal Chand Jain. During the search, a large number of hundi rec...
Assessee vs. Commissioner of Income Tax – Delhi High Court Dismisses Income Tax Appeals Holding No Substantial Question of Law Arises | ITA No. 246/2008 & ITA No. 423/2008
Facts of the CaseThe appellants challenged the findings recorded by
the authorities below under the Income-tax Act.The High Court examined the orders passed by the
lower authorities.The Court found that the controversy...
Commissioner of Income Tax v. Assessee (Name Not Available in Uploaded Order) | Delhi High Court | ITA No. 304/2007 | Appeal Dismissed Due to Low Tax Effect
Facts of the CaseThe appeal was filed before the Delhi High Court
in ITA No. 304/2007. During the hearing, counsel appearing for the appellant
did not dispute that the tax effect involved in the matter was less than ...
M/s AKS & Associates vs Commissioner of Income Tax & Another | Delay in Determination and Payment of Special Audit Remuneration under Section 142(2D) of the Income-tax Act, 1961 – Delhi
Facts of the CaseThe petitioner was appointed as a Special Auditor
at the instance of the Assessing Officer in December 2006. Upon completion of
the Special Audit, the petitioner submitted the audit report and raised i...
Carlton Overseas Pvt. Ltd. vs. Income Tax Officer & Others | Delhi High Court Assessment Reopening under Sections 147/148 Invalid on Mere Change of Opinion – Delhi High Court
Facts of the CaseThe petitioner, Carlton Overseas Pvt. Ltd., was
engaged in the business of manufacturing and export of footwear. For Assessment
Year 2002-03, the company filed its return of income claiming deductions ...
Commissioner of Income Tax v. Assessee Company – Foreign Exchange Fluctuation Loss and Related Tax Deductions Covered by Earlier Judicial Precedents | Delhi High Court
Facts of the CaseThe Revenue filed Income Tax Appeals No. 161/2009
and 261/2009 before the Delhi High Court challenging the order passed by the
Income Tax Appellate Tribunal. The appeals involved issues relating to the...
Commissioner of Income Tax, Delhi-VI, New Delhi v. Teehdrive (India) Pvt. Ltd. | Section 10B Deduction Cannot Be Denied Merely Because Software Was Developed Using Third-Party Infrastructure Under Assessee’s Control – Delhi High Court
Facts of the CaseThe assessee, Teehdrive (India) Pvt. Ltd., was
registered with the Software Technology Parks of India (STPI) and was engaged
in the export of computer software services. For Assessment Year 2002-03, th...