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Commissioner of Income Tax vs Foreign Assessee Company – No Penalty Under Section 271(1)(c) for Bona Fide DTAA Tax Computation Error Subsequently Corrected | Delhi High Court
Facts of the CaseThe respondent assessee was a foreign company operating in
India. For Assessment Years 2002-03 and 2003-04, it filed its income tax
returns declaring income of ₹2,77,83,950 and ₹12,19,216 respectiv...
CIT vs Foreign Assessee Company (Delhi High Court) – Deletion of Penalty under Section 271(1)(c) Where Revised Computation Filed After Genuine DTAA Tax Rate Mistake
Facts of the CaseThe respondent assessee was a foreign company operating in
India. For Assessment Years 2002-03 and 2003-04, it filed income tax returns
declaring income of ₹2,77,83,950 and ₹12,19,216 respect...
Commissioner of Income Tax vs Assessee – Eligibility of Deduction under Section 10B of the Income Tax Act on Claim of ₹19,13,653 | Delhi High Court | ITA No. 1320/2010
Facts of the CaseThe assessee claimed deduction under Section 10B of the
Income Tax Act in respect of an amount of ₹19,13,653. The Revenue
challenged the allowability of the deduction and preferred an appeal before t...
CAG Empanelment 2026-27: A Crucial Opportunity for CA Firms to Verify Their Provisional Point Score
CAG Empanelment 2026-27: A Crucial Opportunity for CA Firms to Verify Their Provisional Point ScoreThe Office of the Comptroller and Auditor General (CAG) of India has released the Provisional Empanelment Status of Chart...
Commissioner of Income Tax vs. SKK Ltd. | Depreciation on Sale and Lease Back Transactions Allowed under Section 32 of the Income Tax Act | Delhi High Court
Facts of the Case
The
assessee entered into a purchase and lease-back transaction with M/s Asian
Electronics Ltd.
Pursuant
to the transaction, the assessee claimed depreciation of ₹1,74,11,000 on...
CIT vs Arihant Exports Ltd. (Delhi High Court) – Depreciation on Leased Gas Cylinders Allowed Despite Allegation of Bogus Transaction under Section 32 of the Income-tax Act, 1961 | ITA No. 349 of 2010
Facts of the CaseThe assessee, Arihant Exports Ltd., was engaged in the
business of financing and leasing. During Assessment Year 1994-95, the assessee
purchased gas cylinders from M/s Modern Steel Trading Company, Bha...
Commissioner of Income Tax vs. Ravinder Kumar Arora (2011) 342 ITR 38 (Delhi HC) | Section 54F Exemption Allowed on Jointly Purchased House Where Entire Investment Made by Assessee
Facts of the CaseThe assessee, Mr. Ravinder Kumar Arora, sold a long-term
capital asset being a plot of land situated in Gautam Budh Nagar, Uttar
Pradesh, and earned long-term capital gains.To claim exemption under Sec...
Commissioner of Income Tax, Delhi-I, New Delhi vs Aerens Infrastructure & Technology Ltd. | Reassessment under Sections 147, 148 & Reference to DVO under Section 142A Without Prior Finding of Unexplained Investment – Delhi High Court
Facts of the Case
The
assessee filed its income tax return declaring income of ₹1,60,450.
During
assessment proceedings, the Assessing Officer (AO) noticed that the
assessee had purchased a prope...
The Institute of Chartered Accountants of India (ICAI) & Anr. vs. Director General of Income Tax (Exemptions), Delhi & Ors. – Scope of Charitable Purpose under Sections 2(15) and 10(23C)(iv) of the Income Tax Act, 1961 (Delhi High Court)
Facts of the CaseThe Institute of Chartered Accountants of India (ICAI) and
its President challenged the order dated 19.05.2009 passed by the Director
General of Income Tax (Exemptions), rejecting ICAI’s application ...
Director of Income Tax (Exemptions) vs. The Institute of Chartered Accountants of India (ICAI) – Whether Coaching Activities of ICAI Constitute Business Activity and Violate Section 11(4A) of the Income Tax Act, 1961
Facts of the CaseThe Institute of Chartered
Accountants of India (ICAI) is a statutory body established under the Chartered
Accountants Act, 1949 for regulating the profession of Chartered Accountants in
India.
ICA...