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The Commissioner of Income Tax – XIII vs M/s Mittal Consul & Co., Tushar Stock & Share Brokers Pvt. Ltd., R.K. Mittal | Delhi High Court | Sections 132A, 158BB, 158BC, 158BD | Validity of Block Assessment Proceedings
Facts of the
CaseThree related appeals arose from separate orders of
the Income Tax Appellate Tribunal (ITAT) concerning the respondents: M/s Mittal
Consul & Co. (MCC), Tushar Stock & Share Brokers Pvt. Ltd. (...
The Commissioner of Income Tax vs M/s Mittal Consul & Co. & Others: Analysis of Validity of Proceedings under Sections 158BC & 158BD of the Income Tax Act
Facts of the
Case:Three separate appeals—ITA No. 1277/2007 (M/s
Mittal Consul & Co.), ITA No. 572/2008 (Tushar Stock & Share
Brokers Pvt. Ltd.), and ITA No. 928/2008 (R.K. Mittal)—arose from
orders of the...
Commissioner of Income Tax vs. Govind Nagar Sugar Limited – ITA No. 164/2008 | Delhi High Court – Unabsorbed Depreciation & Section 32(2) Interpretation
Facts of the
CaseThe appellant, Commissioner of Income Tax,
challenged the order of the Income Tax Appellate Tribunal (ITAT) which allowed
the respondent, Govind Nagar Sugar Limited, to carry forward unabsorbed
depre...
Galileo International Inc. vs Director of Income Tax | Delhi High Court Clarifies Taxability of Permanent Establishment (PE) Income and Deduction of Expenses
Facts of the
Case
The assessee filed appeals relating to different assessment years.
The primary controversy was whether the assessee had a Permanent
Establishment (PE) in India.
The lower authorities, after...
Commissioner of Income Tax vs Eli Lilly & Co. India Pvt. Ltd. – Interpretation of Section 154 & Section 115JA of the Income Tax Act in MAT Computation (ITA 97/2009 & ITA 657/2010)
Facts of the
Case
The assessee, Eli Lilly & Co. India Pvt. Ltd., filed
income tax returns showing losses for the assessment years 2000-01 and
2001-02.
Under normal provisions, losses were higher than...
Commissioner of Income Tax – VI vs Three Dee Exim Pvt. Ltd. (ITA No.1604/2010 & 1778/2010) | Delhi HC | Section 147/148/143(3)
Facts of the
Case
Respondent/assessee filed return for AY 1999-2000 declaring income
of ₹4,91,550/- assessed under Section 143 of the Income Tax Act.
Information received from DIT (Inv.) indicated acco...
Director of Income Tax v. Galileo International Inc. – Delhi High Court Reaffirms Taxability Principles; Revenue Appeals Dismissed Following Binding Precedent
Facts of the
CaseThe Revenue preferred multiple appeals before the
Delhi High Court challenging the order passed in favour of the assessee. The
principal issue involved in the appeals had already been adjudicated by t...
Commissioner of Income Tax – VI vs Three Dee Exim Pvt. Ltd. | Delhi HC Case on Section 148/147, Notice Service & Reassessment
Facts of the
Case
The assessee, Three Dee Exim Pvt. Ltd., filed its return for AY
1999-2000 declaring income of Rs.4,91,550/-, which was assessed under
Section 143.
Based on information received from DIT...
Director of Income Tax vs. Galileo International Inc. & Connected Appeals – Delhi High Court Reaffirms Earlier Precedent; Revenue Appeals Dismissed
Facts of the
CaseThe Revenue preferred multiple Income Tax Appeals
before the Delhi High Court. The principal issue raised in these appeals had
already been examined and decided by the Delhi High Court in Director of
...
Standard Chartered Bank Vs Income Tax Department: WP(C) No.2056/2011 – Section 226(3) & Section 281(1) of Income Tax Act, 1961
Facts of the Case:
The petitioner, Standard Chartered Bank, received notices under Section
226(3) of the Income Tax Act, 1961, demanding payment of Fixed Deposit Receipts
(FDR) and refund of overdraft amounting to Rs....