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Commissioner of Income Tax, Delhi vs M/s Mesco Laboratories Ltd. (2006) – Reassessment under Sections 147 & 148 Invalid Without Rational Nexus Between Reasons and Escaped Income
Facts of the
CaseThe Revenue challenged the order of the Income Tax
Appellate Tribunal for Assessment Year 1995-96. The dispute concerned the
validity of reassessment proceedings initiated by the Assessing Officer und...
Commissioner of Income Tax, Delhi vs M/s Adidas India Marketing (P) Ltd. – TDS on Hire Charges for Furniture & Fixtures, Assessee in Default under Sections 194-I, 194C, 201(1) & 201(1A) of the Income-tax Act
Facts of the
CaseM/s Adidas India Marketing (P) Ltd. had taken
premises on lease for its head office. Apart from the lease agreement, it
entered into a separate agreement for hiring furniture and fixtures installed
i...
CIT vs. Shri Ashok Dua: Scope of Chapter XIV-B Block Assessment and Taxability of Disclosed NRI Gifts and Post-Search Bank Statements
Facts
of the CaseThis appeal relates to the block
assessment period from April 1, 1987, to January 16, 1998, and is directed
against the Income Tax Appellate Tribunal's (ITAT) order dated March 28, 2005.
A search ope...
Dabur India Limited vs. CIT: Mandatory Deduction of Depreciation for Computing Sections 80-IB and 80HHC Deductions for AY 2001-02
Facts
of the CaseThe appellant, M/s Dabur India Limited,
preferred an appeal under Section 260A of the Income Tax Act, 1961, challenging
the judgment dated April 5, 2007, passed by the Income Tax Appellate Tribunal
(...
Dabur India Limited vs. CIT: Mandatory Deduction of Depreciation for Computing Section 80-IB and 80HHC Deductions
Facts
of the CaseThe assessee, M/s Dabur India Limited,
is engaged in the business of manufacturing herbal products and cosmetics. For
the Assessment Year 2000-01, the company filed its return of income on November
3...
CIT vs. M/s Lotus Trans Travels Pvt. Ltd.: Taxability of Debatable Claims and Deletion of Penalty Under Section 271(1)(c) of the Income Tax Act
Facts
of the CaseThe appeals under consideration were
filed by the Revenue against a common appellate order passed by the Income Tax
Appellate Tribunal (ITAT) dated 06.07.2007, which spanned across the Assessment
Yea...
CIT vs. M/s Tosha International Ltd.: Taxability of Principal Loan Waiver under Section 41(1) of the Income Tax Act
Facts
of the CaseThe assessee, M/s Tosha International
Ltd., was engaged in manufacturing black and white television picture tubes.
The company ran into immense financial losses, eventually becoming a sick
industrial...
Commissioner of Income Tax vs M/s Videon – Penalty u/s 271(1)(c) Not Leviable Where Claim of Exemption on Sale of Land Was Made Bona Fide and Later Withdrawn | Delhi High Court
Facts of the CaseThe assessee filed its return of income for
Assessment Year 1993-94 and disclosed a capital gain of ₹19,45,920 arising from
the sale of land. Subsequently, the assessee filed a revised return claimin...
Income Tax Officer v/s M/s Giggles (P) Ltd. & Others Effect of Deletion of Penalty under Section 271(1)(c) on Prosecution under Section 276C and Section 278B of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe Income Tax Department filed a criminal revision petition
challenging the order of the Additional Sessions Judge. The dispute arose from
criminal prosecution initiated against M/s Giggles (P) Ltd. a...
CIT vs. M/s Tosha zLtd.: Taxability of Principal Loan Waiver under Section 41(1) of the Income Tax Act
Facts of the CaseThe assessee, M/s Tosha International Ltd., was
engaged in manufacturing black and white television picture tubes. The company
ran into immense financial losses, eventually becoming a sick industrial
...