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Director of Income Tax Versus Shin Satellite Public Company Limited: Leviability of Section 234A Interest and Section 154 Rectification in the Absence of a Primary Taxable Royalty Event under Section 9(1)(vi) of the Income Tax Act
Facts of the Case
The
Dispute: The revenue appeals arose across multiple
Assessment Years regarding the taxability of the income earned by the
Assessee, a foreign satellite company.
Assessee's
...
Commissioner of Income Tax-I vs. M/s Delhi State Industrial & Infrastructure Development Corporation Ltd. – Taxability of Statutory Interest Received on Income Tax Refund under Section 56 read with Section 2(24) of the Income Tax Act, 1961.
Facts of the Case
The
Respondent (Assessee), an undertaking of the Government of NCT of Delhi,
received certain grants which were initially brought to tax by the
Revenue, and the Assessee was directed...
Commissioner of Income Tax vs. M/s. DCM Shriram Consolidated Ltd.: Treatment of Unrecovered Advances for Procurement of Industrial Cylinders as Allowable Business Loss under Section 28 of the Income Tax Act, 1961
Facts of the Case
Business
Profile: The respondent-assessee manufactures
fertilizers, cement, PVC, and Chloro Alkali products. To supply dangerous
chemical chlorine gas safely to customers, the compan...
Container Corporation of India Ltd. vs Assistant Commissioner of Income Tax & CIT | Delhi High Court | Section 80-IA Deduction on Inland Container Depots (ICDs) as Inland Ports
Facts of the CaseContainer Corporation of India Ltd. (CONCOR), a
public sector undertaking functioning under the Ministry of Railways, was
engaged in handling and transportation of containerized cargo through Inland
C...
Munjal Showa Ltd. vs Deputy Commissioner of Income Tax | Reopening of Assessment Beyond Four Years Invalid Due to Change of Opinion | Sections 147 & 148 Income Tax Act
Facts of the CaseThe petitioner, Munjal Showa Ltd., filed its return
of income for Assessment Year 2005-06 declaring income of ₹10,83,61,920/-. The
assessment was completed under Section 143(3) of the Income Tax Act ...
M/s Modipon Ltd. vs Assistant Commissioner of Income Tax & Ors. | Delhi High Court | Reassessment Proceedings under Sections 147 & 148 of Income Tax Act Quashed on Amalgamation Issue
Facts of the
CaseM/s Modipon Ltd. filed writ petitions challenging
reassessment notices issued for Assessment Years 1984-85, 1985-86, and 1986-87.
The reassessment proceedings were initiated on the allegation that the...
Commissioner of Income Tax vs. M/s. DCM Shriram Consolidated Ltd.: Treatment of Unrecovered Advances for Procurement of Industrial Cylinders as Allowable Business Loss under Section 28 of the Income Tax Act, 1961
Facts of the Case
Business
Profile: The respondent-assessee manufactures
fertilizers, cement, PVC, and Chloro Alkali products. To supply dangerous
chemical chlorine gas safely to customers, the compan...
Commissioner of Income Tax vs. M/s. DCM Shriram Consolidated Ltd.: Treatment of Unrecovered Advances for Procurement of Industrial Cylinders as Allowable Business Loss under Section 28 of the Income Tax Act, 1961
Facts of the Case
Business
Profile: The respondent-assessee manufactures
fertilizers, cement, PVC, and Chloro Alkali products. To supply dangerous
chemical chlorine gas safely to customers, the compan...
The Commissioner of Income Tax (Central-II) vs. Income Tax Appellate Tribunal & Ors. — Validity of ITAT's Stay on Revisional Assessment Proceedings Under Section 263 of the Income Tax Act, 1961.
Facts of the Case
Assessee
Profile: The Assessee (NIIT Ltd.) is a public limited
company involved in information technology education and software service
exports.
Search
and Original Assessm...
Commissioner of Income Tax v. M/s D.D. Gears Ltd.: Validity of Block Assessment Additions Under Section 69 Based on Single-Day Stock Inventory and the Evidentiary Weight of Search Statements
Facts of the Case
Search
and Inventory: On August 29, 1996, a search operation under
Section 132 of the Income Tax Act, 1961, was conducted at the business
premises of the respondent. The respondent i...