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Commissioner of Income Tax vs. Goodearth Foundation: Analysis of Retrospective Registration under Section 12A and Validity of Assessment Notices
Facts of the CaseThe Goodearth Foundation, a society formed in 1979, conducted
charitable activities, including operating a school in Alwar. Historically, the
society did not file income tax returns, while the school i...
Ajay Guliya vs Assistant Commissioner of Income Tax (Delhi High Court) – Taxability of Deferred Sale Consideration under Section 45 of the Income Tax Act in Capital Gains Cases
Facts of the
CaseThe assessee, Mr. Ajay Guliya, was a shareholder of
Orion Dialog Pvt. Ltd. and held 1,500 shares in the company. Under a Share
Purchase Agreement dated 15 February 2006, the assessee transferred his
...
Commissioner of Income Tax, Delhi-IV vs Green Tech Seed International Pvt. Ltd. – Addition on Stock Valuation Difference and Sales Return Issue | Delhi High Court | ITA No. 924/2008
Facts of the
Case
The Assessing Officer examined the assessee's stock records and
observed that total sales amounted to Rs. 22,02,751 while total stock was
computed at Rs. 44,50,238.
Based on this assess...
Krishak Bharati Cooperative Ltd. vs Joint Commissioner of Income Tax & Commissioner of Income Tax Special Range-12 | Delhi High Court | ITA 1278/2007 & ITA 956/2008 | No Substantial Question of Law Arises
Case TitleKrishak Bharati Cooperative Ltd. vs Joint
Commissioner of Income Tax & Commissioner of Income Tax Special Range-12Facts of the
CaseKrishak Bharati Cooperative Ltd. filed two income
tax appeals before the...
Director of Income Tax vs Jal Hotels Co. Ltd. – Liability of Non-Resident Assessee to Pay Interest under Section 234B Where Tax Deduction at Source Obligation Rests upon Resident Payer | Delhi High Court
Facts of the
Case
Jal Hotels Co. Ltd. was a non-resident assessee during the relevant
assessment year 2006–07.
Payments were made to the assessee by an Indian resident
payer/customer.
Under the Incom...
Commissioner of Income Tax vs. M/s KRIBHCO – Delhi High Court on Applicability of Section 14A to Deductions under Section 80P(2)(d) and Distinction Between Exemption and Deduction under Income Tax Act, 1961
Facts of the Case
The assessee, M/s KRIBHCO, was a cooperative society operating
under the administrative control of the Department of Fertilizers,
Ministry of Agriculture and Cooperation, Government of Ind...
Director of Income Tax vs. Cargill Financial Services Asia Pvt. Ltd. | Delhi High Court on Bill Discounting Charges and TDS Liability under Section 194A of the Income Tax Act
Facts of the CaseCargill Global Trading Pvt. Ltd. had entered into
transactions involving bill discounting arrangements with Cargill Financial
Services Asia Pvt. Ltd. The Assessing Officer treated the bill discounting
...
M/s Lavish Apartment (P.) Ltd. vs Assistant Commissioner of Income Tax – Set-Off of Brought Forward Business Loss Against Rental Income, Hire Charges and Commission Income under Section 72(1) of the Income Tax Act, 1961
Facts of the
Case
The assessee, M/s Lavish Apartment (P.) Ltd., was a private limited
company carrying on business in sale, purchase, leasing and renting of
properties.
For Assessment Year 1995–96, the...
Bharti Gupta Ramola vs. Commissioner of Income Tax: Computation of Holding Period for Capital Assets under Section 2(42A) of the Income Tax Act, 1961
Facts of the Case
The
appellant, Bharti Gupta Ramola, is an individual assessee who earned
income from salary, sources, and capital gains through investments in
mutual fund instruments and securities....
Commissioner of Income Tax vs. M/S Goel Jewellers: Judicial Determination on the Non-Inclusion of Undisclosed Income Surrendered During Survey under Section 133A within 'Business Profits' for Computing Export Deductions under Section 80HHC of the Income Tax Act, 1961
Facts of the Case
Business
Profile: The respondent-assessee, M/S Goel Jewellers,
is a partnership firm engaged in the business of manufacturing and selling
gold jewellery and diamonds both in India (d...