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
Director of Income Tax (Exemptions) vs Dalmia Shiksha Prathishthan – Educational Institution Entitled to Exemption under Section 10(22) Despite Incidental Income and Investment of Funds in Non-Governmental Entities
Facts of the
Case
Dalmia Shiksha Prathishthan was a trust engaged in imparting
education through four educational institutions located in Rajasthan and
Orissa.
The trust had been registered under S...
Commissioner of Income Tax vs M/s E Funds International India Pvt. Ltd. – Allowability of Business Expenditure Where Business Had Commenced Though No Operational Revenue Was Earned | Section 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee company, M/s E Funds International India Pvt.
Ltd., was incorporated on 14 July 1997 and was engaged in the business of
information technology services, including software development, con...
Commissioner of Income Tax, Delhi-VII vs Shri Vivek Dougall – Non-Compete Fee Already Disclosed in Regular Return Cannot Be Treated as Undisclosed Income in Block Assessment under Sections 158B(b) and 158BC of the Income-tax Act, 1961
Facts of the
Case
Shri Vivek Dougall was one of the promoters of Atul Glass
Industries Limited (AGIL) and Maharashtra Glass & Agro Limited
(MGAL).
A French company, Sekruti Saint Gobain (SSB), intend...
Commissioner of Income Tax vs Escorts Tractors Ltd. – Deductibility of Non-Convertible Debenture Issue Expenses and Applicability of Section 35D of the Income-tax Act, 1961
Facts of the CaseThe assessee, M/s Escorts Tractors Ltd., incurred expenditure
of ₹38,33,681 in connection with the rights issue of non-convertible debentures
during the Assessment Year 1995-96. The assessee claimed ...
Commissioner of Income Tax, Delhi-VI vs T.E.I. Technologies (Pvt.) Ltd. – Technical Support Fee Held Revenue Expenditure and Not Capital Expenditure under the Income-tax Act, 1961
Facts of the
Case
T.E.I. Technologies (Pvt.) Ltd. entered into a joint venture
arrangement with Tyco Asia Investment Ltd. and Elentec Co. Ltd.
The joint venture was formed for manufacturing CRT sockets,
...
Abhinav Bajaj v. Income Tax Officer – Criminal Prosecution under Section 276B Quashed Due to Wrong Assessment Year Mentioned in Complaint | Delhi High Court (2006)
Facts of the CaseThe Income Tax Department filed a criminal
complaint against four accused persons under Section 276B of the Income-tax
Act, 1961 alleging failure to deposit tax deducted at source (TDS) with the
Incom...
Narinder Jeet Kanwar vs Commissioner of Income Tax – Section 260A of the Income Tax Act, 1961 | Bogus Share Transactions and Capital Gains Claim Rejected
Facts of the CaseThe assessee, Narinder Jeet Kanwar, challenged the order of
the Income Tax Appellate Tribunal relating to Assessment Year 1997-98. The
assessee claimed to have entered into share sale transactions invo...
Commissioner of Income Tax, Delhi v. Mount Everest Mineral Water Ltd. – Interest Income Taxable as ‘Income from Other Sources’ Where Corresponding Expenditure Allowed under Section 57(iii) | Delhi High Court (2006)
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court against Mount Everest Mineral Water Ltd. concerning the taxability
of certain interest income earned by the assessee.During the hearing, learned ...
Commissioner of Income Tax v. British Airways – Penalty under Section 271C for Alleged Short Deduction of TDS on Meal and Conveyance Allowance Paid to Cabin Crew | Delhi High Court (2006)
Facts of the CaseThe dispute concerned the levy of penalty under Section
271C of the Income-tax Act on British Airways for alleged short deduction of
tax at source (TDS) on payments made to its cabin crew towards:
Me...
Commissioner of Income Tax v. Morgan Securities & Credits (P.) Ltd. – Bad Debt Deduction Allowed on Write-Off Without Proving Irrecoverability | Sections 36(1)(vii) & 36(2) | Delhi High Court (2006)
Facts of the CaseMorgan Securities & Credits (P.) Ltd. was
engaged in the business of money lending through Inter-Corporate Deposits
(ICDs) and other loans.During the relevant assessment year, the assessee
wrote o...