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M/s Shankar Trading (P) Ltd. vs Commissioner of Income Tax (Delhi High Court) – Section 40A(2), Capital vs Revenue Expenditure on Lease Rental and Non-Compete Rights under Income Tax Act, 1961
Facts of the Case
M/s Shankar Trading Pvt. Ltd. was engaged in the business of
manufacturing and trading Katha and Cutch.
The assessee had taken a factory unit on lease from Mehta
Charitable Prajnalaya T...
Commissioner of Income Tax–III vs. Shonkh Technology Ltd. – Reassessment Proceedings under Sections 147, 148 and 143(3) of the Income Tax Act, 1961 – Validity of “Reasons to Believe” for Escaped Income Assessment
Facts of the CaseShonkh Technology Ltd., incorporated in 1998, was
engaged in software production activities. For Assessment Year 2000–01, the
assessee had filed its return which was assessed at approximately ₹12.3...
Krishak Bharati Cooperative Ltd. vs Additional Commissioner of Income Tax | Delhi High Court | Section 80P / Income Tax Appeals on Taxability and Cooperative Society Income
Facts of the CaseKrishak Bharati Cooperative Ltd. filed Income Tax
Appeals before the Delhi High Court challenging the assessment proceedings and
findings made by the tax authorities. The appeals involved issues concer...
Krishak Bharati Cooperative Ltd. vs Additional Commissioner of Income Tax | Delhi High Court | ITA Nos. 163/2011, 1215/2011 & 1216/2011 | Tax Appeal Dismissed Following Earlier Decision
Facts of the Case
Krishak Bharati Cooperative Ltd. filed appeals before the Delhi
High Court challenging tax-related findings.
The appeals involved issues that had already arisen in connected
litigation ...
Krishak Bharati Cooperative Ltd. vs Additional Commissioner of Income Tax – Delhi High Court on Dismissal of Appeals Following Earlier Decision in Krishak Bharati Cooperative Ltd. vs Deputy CIT
Facts of the Case
Krishak Bharati Cooperative Ltd. filed appeals before the Delhi
High Court challenging orders passed by the Income Tax authorities.
The appeals were registered as ITA No. 163/2011, ITA No. 121...
M/s Omaxe Ltd. Through Jai Bhagwan Goel vs Assistant Commissioner of Income Tax & Anr. | Reassessment under Section 148 after Settlement Commission Order – Finality of Settlement under Sections 245D, 245F & 245I of the Income Tax Act, 1961
Facts of the
Case
M/s Omaxe Ltd., a public limited company engaged in real estate
business, was subjected to a search operation under Section 132 of the
Income Tax Act on 22.09.2005.
The company filed it...
Maruti Center for Excellence & Anr. vs Income Tax Officer (E) | Delhi High Court on Reopening of Assessment under Sections 147/148 Without Allegation of Failure to Disclose Material Facts
Facts of the
Case
The petitioner, a society registered under the Societies
Registration Act, filed its income tax return for Assessment Year 2004–05
declaring NIL income and claiming exemption under Sect...
Govt. of India (Department of Revenue) Director General of Income Tax & Anr. vs M/s Orient Vegetax Pro Ltd. & Ors. – BIFR’s Power to Grant Section 72A Income Tax Benefits in Sick Company Amalgamation | Delhi High Court
Facts of the
CaseM/s Orient Vegetax Pro Ltd. encountered financial
difficulties and approached BIFR under the provisions of SICA seeking
rehabilitation. During the proceedings, a draft rehabilitation scheme was
prepa...
SAK Industries Private Limited & Another vs Deputy Commissioner of Income Tax Circle 7(1) & Another | Delhi High Court on Reassessment under Sections 147, 148 and Disclosure of Material Facts under Income Tax Act
Facts of the CaseThe petitioner company filed its return for
Assessment Year 2003–04 and disclosed income under the Income Tax Act while
also computing book profit under Section 115JB.The petitioner had received appr...
National Cooperative Development Corporation vs. Assistant Commissioner of Income Tax: Scope of Income "Derived From" Long-Term Finance Business under Section 36(1)(viii) of the Income Tax Act, 1961
Facts of the Case
The
Appellant-Assessee, National Cooperative Development Corporation (NCDC),
is a statutory corporation established under the National Cooperative
Development Corporation Act, 1962, ...