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Commissioner of Income Tax, Delhi vs Delhi Apartments Pvt. Ltd. – Taxability of Advance Received on Sale of Land and Whether Sale of Land Constitutes Business Income or Capital Gains under Sections 2(47)(v), 45 & 260A of the Income Tax Act, 1961
Facts of the
CaseThe assessee had purchased certain properties
situated in Village Kapashera between 08.02.2005 and 25.08.2005 at an aggregate
purchase consideration of ₹1,06,58,000. These lands were subsequently so...
NTPC Ltd. Vs Commissioner of Income Tax-V | Delhi High Court on Section 263 Revision Powers, Provisional Reduction of Sales & Income Recognition under Income Tax Act
Facts of the CaseNTPC Ltd. filed its return of income for Assessment Year
2005–06 declaring total income of approximately Rs.1330.17 crores. The case was
selected for scrutiny and assessment proceedings were conducte...
M/s Indus Towers Ltd. vs Deputy Commissioner of Income Tax & Others | Delhi High Court | Refund of Tax Amount and Withdrawal of Writ Petition Regarding Interest Claim
Facts of the CaseM/s Indus Towers Ltd. filed multiple writ petitions
before the Delhi High Court against the Deputy Commissioner of Income Tax and
other authorities regarding refund-related disputes under the Income Ta...
Radials International vs ACIT – Delhi High Court Clarifies Tax Treatment of PMS Transactions and Distinction Between Capital Gains and Business Income under the Income-tax Act, 1961
Facts of the Case
Radials
International was a partnership firm engaged in providing technical,
marketing and maintenance services relating to earth mover, aircraft and
truck tyres and also traded in t...
S.K. Jain vs Commissioner of Income Tax-XI, New Delhi & Others – Delhi High Court on Interest Liability for Delayed Release of Seized Cash under Sections 132, 132B & 244A of the Income Tax Act, 1961
Facts of the
CaseThe petitioner, S.K. Jain, was subjected to a
search and seizure operation under Section 132(1) of the Income Tax Act on
16.02.2005 at his residential premises. During the search, cash amounting to
â...
Assistant Commissioner of Income Tax v. Nilofar Currimbhoy | Section 276-CC & Section 278-E of Income Tax Act – Wilful Delay in Filing Income Tax Return and Presumption of Mens Rea by Delhi High Court
Facts of the Case
For Assessment Year 1994–95, the respondent was required to file
income tax returns on or before 31.10.1994.
Upon scrutiny of departmental records, the Income Tax Department
found that...
Court on Its Own Motion & All India Federation of Tax Practitioners vs Commissioner of Income Tax & Union of India – Delhi High Court on Illegal Adjustment of Refunds, TDS Credit Mismatch and Mandatory Compliance of Sections 245 & 154 of the Income Tax Act
Facts of the Case
The proceedings originated from a letter written by a Chartered
Accountant pointing out hardships suffered by taxpayers due to errors in
computerized processing of income tax returns.
Su...
Pepsi Foods Pvt. Ltd. vs Assistant Commissioner of Income Tax | Delhi High Court | Section 153C Income Tax Act | Invalid Satisfaction Note and Quashing of Notice
Facts of the
CaseA search and seizure operation under Section 132(1)
of the Income Tax Act was conducted on the Jaipuria Group on 27.03.2012. During
the course of the search, certain documents relating to Pepsi Foods ...
Ajay Kumar Sharma vs Commissioner of Income Tax & Anr | Delhi High Court on Reassessment under Sections 147/148 and Eligibility of Section 80-IC Deduction for PET Bottle Manufacturing
Facts of the
CaseThe petitioner, Ajay Kumar Sharma, engaged in
manufacturing PET bottles through M/s OM Shiva Industries situated in Himachal
Pradesh, had claimed deduction under Section 80-IC of the Income-tax Act on...
Director of Income Tax (Exemption) vs Charanjiv Charitable Trust – Delhi High Court | Withdrawal of Revenue Appeal with Liberty to File Fresh Appeal | ITA 5/2013 & ITA 6/2013
Facts of the
CaseThe Revenue, through the Director of Income Tax
(Exemption), had filed appeals before the Delhi High Court against Charanjiv
Charitable Trust. During the hearing, counsel appearing for the
appellant/...