Blog Categories
All Posts
Accounting Standard 12
CBDT 1
Chartered Accountant 1
Chartered Engineer 1
Greetings 1
Income Tax Act 2025 0
Labour Law 2
MCA Notification 1
MSME 1
NGO- Trust & Society 0
PLACEMENT 1
Press Information Bureau, Government of India (PIB) 2
RBI & Banks 1
RERA 0
RTI 1
STUDENT ICAI 1
Virtual Webinar 5
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Commissioner of Income Tax, Delhi-IV vs Escorts Finance Limited (Delhi High Court) – Penalty under Section 271(1)(c) for False Claim under Section 35D of the Income-tax Act
Facts of the CaseThe assessee, Escorts Finance Limited, filed its
return of income declaring income of ₹1,21,03,280. During assessment
proceedings, the Assessing Officer noticed that the assessee had claimed
deducti...
Commissioner of Income Tax vs. Motor & General Finance Ltd. – Whether Leasing and Hire-Purchase Activities Constitute a Financial Company and Credit Institution under Sections 2(5A), 2(5B) & 4(2) of the Interest Tax Act, 1974
Facts of the
Case
Motor & General Finance Ltd. was engaged in hire-purchase,
leasing and allied financing activities.
The assessee did not file returns under the Interest Tax Act, 1974
on the ground ...
Commissioner of Income Tax vs Assessee Company – Whether Expenditure on Tools and Dies Constitutes Revenue Expenditure or Capital Expenditure under the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe Assessing Officer made additions to the income
of the assessee by treating expenditure incurred on tools and dies as capital
expenditure and consequently disallowed the claim of the assessee that t...
Commissioner of Income Tax vs Assessee – Whether Expenditure on Tools and Dies is Revenue Expenditure or Capital Expenditure | Delhi High Court Remands Matter to ITAT for Fresh Adjudication under Income Tax Act, 1961
Facts of the CaseThe Assessing Officer made additions to the
assessee's income by treating expenditure incurred on tools and dies as capital
expenditure. The assessee contended that such expenditure was revenue in natu...
Northern Strips Limited & Another vs Income Tax Officer, Ward 13(3), New Delhi: Delhi High Court Quashes Reassessment Based on Mere Change of Opinion Under Sections 147 and 148
Facts of the Case
The
petitioner company was engaged in the business of cutting and slitting
polyester films and operated an industrial undertaking situated in a
notified backward area at Silvassa.
...
M/s United Exports vs Commissioner of Income Tax, Delhi (Delhi High Court) – Trade Discount to Sister Concern Not Disallowable under Section 40A(2) of the Income Tax Act
Facts of the CaseThe assessee, M/s United Exports, was a
partnership firm engaged in the business of export of rice. For Assessment Year
2004-05, it filed its return declaring total income of Rs. 87,47,807.During the r...
Commissioner of Income Tax, Delhi-XVII vs Business India Television International Ltd. – Reimbursement of Employee Expenses, TDS Liability under Section 192 and Assessee-in-Default under Section 201 | Delhi High Court
Facts of the CaseThe assessee, Business India Television
International Ltd., was engaged in running a news and current affairs
television network. Due to the nature of its business, employees were required
to continuo...
Commissioner of Income Tax v. Honda Siel Power Products Ltd. (2009) – Expenditure on Expansion of Existing Business Allowed as Revenue Expenditure under Section 37(1) of the Income-tax Act
Facts of the CaseHonda Siel Power Products Ltd. was engaged in the
manufacture of portable generator sets.For its manufacturing operations, the company was
procuring aluminium die-cast components from outside vendors. ...
Commissioner of Income Tax vs. Assessee – Genuine Share Transactions and Non-Taxability of Capital Gains in Incorrect Assessment Year | Delhi High Court
Facts of the Case
The
assessee had undertaken transactions involving sale of shares.
The
Revenue disputed the genuineness of the transactions and sought to tax the
alleged capital gains in the relev...
Commissioner of Income Tax v. Jindal Exports Ltd. & Connected Appeals | Delhi High Court Upholds Earlier Precedent in ITA No. 883/2009
Facts of the Case
The
Revenue preferred Income Tax Appeal No. 883 of 2009 before the Delhi High
Court.
The
appeal involved a question that had already been examined and adjudicated
by the Delh...