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Commissioner of Income Tax, Delhi-IV vs. M/s Dewan Kraft System Pvt. Ltd. – Whether Unit-Level Profits Eligible for Section 80-IA Deduction Can Be Restricted or Adjusted Against Losses of Non-Eligible Units under Section 80-IA(7) of the Income Tax Act, 1961
Facts of the Case
The
Respondent-Assessee is a Private Limited Company engaged in the core
business of fabrication and the supply of technical items and industrial
equipments.
The
Assessee op...
Allied Electronics and Magnetics Ltd. vs. Deputy Commissioner of Income Tax: Mandatory Requirement of 'Asset User' in the Year of Discarding Under Section 32(1)(iii) of the Income Tax Act, 1961
Facts of the Case
The
Appellant-company was engaged in manufacturing and trading computer
floppies and related computer consumables.
The
plant and machinery used for this purpose were originally in...
Commissioner of Income Tax (Central)-I, New Delhi v. Ansal Buildwell Ltd. – Scope of “Undisclosed Income” in Block Assessment under Sections 158B(b) and 158BB of the Income-tax Act, 1961
Facts of the
Case
A search was conducted at the office premises of Ansal Buildwell
Ltd.
During the search, a bill amounting to Rs. 14,69,250 relating to
commission on sale of flats by M/s Televista...
Commissioner of Income-Tax vs. M/S Shanker Lal Ved Prakash: Presumption of Service of Notice Under Section 143(2) of Income-Tax Act, 1861 Read With Section 27 of General Clauses Act and Section 114 of Indian Evidence Act Regarding Statutory Limitation Period
Facts of the Case
The
Assessee (Respondent) filed his income tax return on 29.08.1997 for
the Assessment Year 1997-98, declaring an income of ₹41,98,800.
Under
the proviso to Section 143(2) of th...
Commissioner of Income Tax, Central, New Delhi vs. M/S Hindustan Tin Works Ltd: Deletion of Addition Made Under Section 145(2) Due to Absence of Unaccounted Sales and Merely Alleged Discrepancies Between Daily Production Reports and Stock Registers Sustained in the Absence of Substantial Question of Law Under Section 260A
Facts of the Case
Assessee's
Business: The Assessee, M/S Hindustan Tin Works Ltd,
is engaged in the manufacturing and sale of tin containers.
Search
and Seizure: A search and seizure operation was ...
Commissioner of Income Tax, Delhi-XVII vs. M/s Reebok India Company: Whether Adjustable, Non-Refundable Security Deposit Amounts to 'Rent' Under Section 194-I of the Income Tax Act, 1961 necessitating TDS?
Facts of the Case
The
Lease Agreement: The Respondent/Assessee (M/s Reebok India
Company) entered into an agreement with M/s ABCO Footwear Care to take
premises on lease at a monthly rent of Rs. 6,26,...
Commissioner of Income Tax, Delhi (Central)-II vs. Shri Anil Kumar: Delhi High Court Judgment on Section 68 Income Tax Act Regarding the Rejection of Sham Foreign NRE Account Gifts and the Failure of Assessee to Discharge the Tripartite Onus of Establishing Identity, Financial Capacity, and Transaction Genuineness
Facts of the Case
The
Assessee (Shri Anil Kumar) filed his Income Tax Return for the Assessment
Year (AY) 1995-96 on October 31, 1995, declaring an income of ₹1,04,249.
The initial assessment was fi...
Commissioner of Income Tax, Delhi-II, New Delhi v. M/s Malibu Estate [2007:DHC:218-DB] — Direct Tax Case Analysis: Credit of Tax Deducted at Source (TDS) under Section 199 of the Income Tax Act, 1961, Allowable to the Substantive Income Earner (AOP) Even When TDS Certificates Are Issued in the Name of a Group Entity/Joint Venture Partner
Facts of the Case
Five
distinct corporate entities were incorporated on April 28, 1992,
collectively forming the "Malibu Group of Companies". The group
aimed to develop a cohesive township project in ...
Commissioner of Income Tax, Delhi-IV v. ESPN Software India (P) Ltd. – Determination of Business Set-Up and Allowability of Revenue Expenditure under Sections 3(1) and 260A of the Income-tax Act, 1961
Facts of the
Case
ESPN Software India (P) Ltd. was incorporated on 1 August 1995.
This was the first assessment year for which the company filed its
return, declaring a loss of Rs. 3,01,78,033.
On 15 August ...
Royal Jordanian Airlines & Anr. v. Deputy Director of Income Tax: High Court of Delhi Dismissal Upon Withdrawal of Writ Petition with Liberty to Pursue Alternative Statutory Remedies Under Income Tax Act
Facts of the CaseThe Petitioner, Royal Jordanian Airlines & Anr.,
approached the Hon'ble High Court of Delhi by filing a Writ Petition designated
as W.P.(C) 2113/2007 under Article 226 of the Constitution of India....