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Motor General Finance Ltd. vs. Commissioner of Income Tax: Taxability of Unclaimed Balances Written Off under Section 41(1) / Section 28(i) of the Income Tax Act
Facts of the Case
The
Assessee's Business: The assessee, Motor General Finance
Ltd., is a limited company engaged in the business of financing commercial
vehicles under hire-purchase agreements....
Commissioner of Income Tax vs. M/s. Purolator India Limited: Deductions u/s 80HHC on DEPB Profit and Credit Utilization
Facts of the Case
The
respondent-assessee, M/s. Purolator India Limited, claimed
deductions under Section 80HHC.
The
Income Tax Appellate Tribunal (ITAT) passed a brief order directing the
Ass...
Commissioner of Income Tax vs. Virgin Securities & Credits Pvt. Ltd. (2011) – Delhi High Court on Rule 46A Additional Evidence and Expense Allocation to Sister Concerns
Facts of the CaseThe appellant (Revenue Department) challenged the order of the
Income Tax Appellate Tribunal (ITAT), which had dismissed the Revenue's appeal
against the Commissioner of Income Tax (Appeals) [CIT(A)]. ...
Neeraj Gupta & Anr. vs. Arun S. Bhatnagar, Commissioner of Income Tax — Contempt of Court for Non-Release of Seized Assets under the Income Tax Act
2. Facts of the Case
The
petitioners (Neeraj Gupta & Anr.) filed a contempt petition
alleging non-compliance with a judgment dated 05.07.2010 passed by
a Division Bench of the Delhi High Court in ...
Director General of Income Tax (Admn.) & Anr. v. Board for Industrial & Financial Reconstruction & Ors. | Binding Nature of SICA Sanctioned Rehabilitation Schemes under Section 19(2)
Facts of the CaseThe Income Tax Department ("the Department") filed
a series of connected writ petitions (WP (C) Nos. 1940, 1942, 1943, 1945,
1946, 1948-1958 of 2011) under Article 226 of the Constitution of India.
Th...
Commissioner of Income Tax vs. Bindals Apparels | Rejection of Books of Accounts Under Section 145 & Scope of Survey Under Section 133A
Facts of the Case
The
assessee, M/s. Bindals Apparels, is a partnership firm constituted in July
1997, engaged in the trading of garments and other lifestyle items like
artificial jewelry, purses, and...
Commissioner of Income Tax vs. Paramount Impex Pvt. Ltd. & Others: Delhi High Court Judgment on Remand of Export Profit Deductions under Section 80HHC and the Taxability of DEPB Credit Sales under Section 28
Facts of the CaseThe Income Tax Appellate Tribunal (ITAT) had allowed
deductions under Section 80HHC of the Income Tax Act, 1961, to various
assessees in a batch of appeals. In passing these brief orders, the Tribunal
...
Commissioner of Income Tax vs. Oswal Chemical & Fertilisers Ltd. | Disallowance of Depreciation under Section 32 of the Income Tax Act
Facts of the CaseThe respondent-assessee (M/s. Oswal Chemical &
Fertilisers Ltd.) filed its return of income for multiple assessment years
claiming depreciation on certain plant and machinery purchased for an amoun...
Director General of Income Tax (Admn.) & Anr. vs. Board for Industrial & Financial Reconstruction (BIFR) & Ors.
2. Facts of the Case
The
Income Tax Department ("the Department") filed an omnibus
challenge via multiple writ petitions under Article 226 of the
Constitution of India.
The
petitions conteste...
Logitronics Pvt. Ltd vs. Commissioner of Income Tax & Anr. (with Commissioner of Income Tax vs. Jubilant Securities Pvt. Ltd.)
Facts of the Case
ITA
No.1623 of 2010 (Logitronics Pvt. Ltd): The
appellant/assessee was a company engaged in manufacturing electronic
products. It obtained loan facilities from the State Bank of Indi...