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Director of Income Tax vs. Maruti Center for Excellence: Interpretation of Section 13(1)(c) and Section 13(3) regarding ‘Benefit’ and ‘Adequate Compensation’ under the Income Tax Act
Facts of the Case
The
Assessee: Maruti Center for Excellence (MACE) is a
society registered under Section 12A of the Income Tax Act, 1941, as a
charitable institution. It was established with the prim...
Commissioner of Income Tax vs. Havells India Ltd. | Taxability of Fees for Technical Services Utilized for Export Business Under Section 9(1)(vii)(b) of the Income Tax Act, 1961
Facts of the Case
The
Assessee (Havells India Ltd.) is an Indian corporate entity engaged in
manufacturing switch gears, energy meters, cables, wires, and other
electrical components.
During
...
Commissioner of Income Tax vs. Kanti Bhai Damani: Delineating the Legal Boundaries of Block Assessment under Chapter XIV-B and Regular Assessment under Section 143(3)
Facts of the Case
Assessee
Background: The respondent assessee, an individual,
operated as a broker and agent in the aluminum market.
Search
and Seizure: A search and seizure operation under Section...
Commissioner of Income Tax vs. M/s Vision Inc. | Validity of Scrutiny Notice Service under Section 143(2) of the Income Tax Act, 1961
Facts of the Case
The
respondent-assessee, M/s Vision Inc., is a partnership firm consisting of
two partners, Mr. Manoj Gupta and Mrs. Shallu Gupta. The assessee filed
its return of income for the Ass...
Commissioner of Income Tax, Delhi-III vs. Sunrays Properties & Investment Co. Pvt. Ltd. | Retroactivity of Rule 8D for Section 14A Disallowances
FACTS OF THE CASE
Origin
of the Appellate Proceedings: The Revenue (represented by
the Commissioner of Income Tax, Delhi-III) preferred two separate
statutory tax appeals, registered as ITA No. 690/20...
C.B. Richards Ellis Mauritius Ltd. v. Assistant Director of Income Tax: Landmark Ruling on the Retroactive Applicability of Amended Limitation Periods for Re-Assessment Notices Under Section 148 and Section 149 of the Income Tax Act, 1961
Facts of the Case
Assessee's
Return: The petitioner, C.B. Richards Ellis
Mauritius Limited, filed its return of income for the Assessment Year (AY)
1998-99 on November 20, 1998, declaring a total inco...
Commissioner of Income Tax vs. M/s Vision Inc. — Judicial Affirmation on the Validity of Notice Service Under Section 143(2) of the Income Tax Act, 1961, by Virtue of Assessee’s Conduct, Active Participation, and Appearance of Authorized Representative in Scrutiny Proceedings
Facts of the Case
Assessee
Entity: The respondent, M/s Vision Inc., is a
partnership firm consisting of two partners, Manoj Gupta and his wife
Shallu Gupta.
Return
Filing: The assessee filed ...
Commissioner of Income Tax vs Indian Sugar Exim Corporation Ltd. – Deletion of Section 14A Interest Disallowance, Valuation of Closing Stock & Non-Applicability of Section 234D for AY 2001-
Facts of the CaseThe assessee, Indian Sugar Exim Corporation Ltd.,
had earned exempt income in the form of dividend income and interest from
tax-free bonds. During assessment proceedings, the Assessing Officer invoked
...
Commissioner of Income Tax vs. M/s Vision Inc. — Judicial Affirmation on the Validity of Notice Service Under Section 143(2) of the Income Tax Act, 1961, by Virtue of Assessee’s Conduct, Active Participation, and Appearance of Authorized Representative in Scrutiny Proceedings
Facts of the Case
Assessee
Entity: The respondent, M/s Vision Inc., is a
partnership firm consisting of two partners, Manoj Gupta and his wife
Shallu Gupta.
Return
Filing: The assessee filed ...
Lakshmi Sugar Mills Co. Ltd. & Others vs Commissioner of Income Tax & Another – Rectification under Section 254(2) of Income Tax Act on Subsequent Supreme Court Overruling | Delhi High Court
Facts of the CaseThe Income Tax Appellate Tribunal had earlier
disposed of ITA Nos. 3584–3586/Del/2007 on 31.03.2008 by relying upon the
Supreme Court judgment in Virtual Soft Systems Ltd. v. Commissioner of
Income ...