Blog Categories
All Posts
Accounting Standard 12
CBDT 1
Chartered Accountant 1
Chartered Engineer 1
Greetings 1
Income Tax Act 2025 0
Labour Law 2
MCA Notification 1
MSME 1
NGO- Trust & Society 0
PLACEMENT 1
Press Information Bureau, Government of India (PIB) 2
RBI & Banks 1
RERA 0
RTI 1
STUDENT ICAI 1
Virtual Webinar 5
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Commissioner of Income Tax vs Pearls Intercontinental Ltd. – Penalty under Section 271(1)(c) on Assessed Loss Income and Applicability of Explanation 4 to Section 271(1)(c) | Delhi High Court
Facts of the CaseThe Revenue challenged the order of the Income Tax
Appellate Tribunal deleting the penalty imposed upon Pearls Intercontinental
Ltd. under Section 271(1)(c) of the Income Tax Act, 1961.The Tribunal had...
Commissioner of Income Tax, Delhi-VI vs Honda Siel Power Products Ltd. (Formerly Hero Honda Power Equipments Ltd.) – Section 254(2) of the Income-tax Act, 1961 | Scope of ITAT's Rectification Power vis-à-vis Review of Order
Facts of the CaseThe Revenue challenged the order of the Income Tax
Appellate Tribunal (ITAT) dated 10.09.2003 whereby the Tribunal allowed the
assessee's application under Section 254(2) of the Income-tax Act, 1961 an...
Commissioner of Income Tax vs General Exports & Credits Ltd. | Section 68 Share Capital Addition, Identity, Creditworthiness & Genuineness of Share Subscribers
Facts of the
CaseThe assessee, General Exports & Credits Ltd.,
had received share capital and share application money amounting to
₹1,00,18,500 through a rights issue. The Assessing Officer treated the amount
a...
M/s Sahara India Financial Corporation Ltd. & M/s Sahara India (Firm) v. Commissioner of Income Tax & Anr. – Validity of Special Audit under Section 142(2A) of the Income-tax Act, 1961 and Scope of Natural Justice
Facts of the CaseThe petitioners, M/s
Sahara India Financial Corporation Ltd. and M/s Sahara India (Firm),
challenged similar orders dated 14 March 2006 passed by the Assistant
Commissioner of Income Tax directing a s...
Commissioner of Income Tax vs M/s Nikita Leasing & Finance – Penalty under Section 271(1)(c) in Cases of Assessed Loss | Delhi High Court
Facts of the
CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order of the Income Tax Appellate Tribunal deleting the
penalty imposed upon the assessee under Section 271(1)(c) of the Income-...
John Tinson & Company (P) Ltd. & Ors. vs Commissioner of Income Tax, Delhi & Ors. – Annual Letting Value, Standard Rent and Sections 22 & 23 of the Income-tax Act, 1961 | Delhi High Court (2006)
Facts of the
CaseThe assessees, John Tinson & Company (P) Ltd.
and others, owned properties that had been let out to tenants. The Assessing
Officer (AO) did not accept the rental income disclosed by the assessees,...
Commissioner of Income Tax versus Shri Kapil Dev: Judicial Remand Due to Factual Error in Assessment Order Interpretation under Section 147 of the Income Tax Act 1961
Facts of the CaseThe Income Tax Appellate Tribunal had issued a common order
covering three assessment years: 1991 92, 1992 93, and 1993 94. In its order,
the Tribunal recorded that assessments for all three years had ...
Commissioner of Income Tax (Central), New Delhi vs M/s Sarb Consulate Marine Products Pvt. Ltd.: Validity of Block Assessment Limitation Period Under Section 158BE vs Artificial Extension of Search and Seizure Operations Through Dummy Panchnama Under Section 132 of the Income Tax Act, 1961
Facts of the Case
The
Search Action: The Respondent-Assessee, an entity engaged
in fishing activities on the high seas, was subjected to a search and
seizure operation under Section 132 of the Income ...
Commissioner of Income Tax, Delhi-VIII, New Delhi vs. Sawhney Exports (2007) | Allowance of Bad Debts Under Section 36(1)(vii) of the Income Tax Act, 1961: Whether Prior or Post-Facto Reserve Bank of India (RBI) Approval is Mandatory for Writing Off Foreign Exchange Bad Debts in the Books of Accounts
Facts of the Case
The
Assessee (Sawhney Exports) is an export house engaged in the business of
exporting garments and receiving payments in foreign exchange.
For
the Assessment Year (AY) 1997-98, th...
Commissioner of Income Tax vs Divine Leasing & Finance Ltd., General Exports & Credits Ltd. & Lovely Exports (P) Ltd. – Section 68 Share Capital Addition, Burden of Proof and Unexplained Cash Credits (Delhi High Court)
Facts of the CaseThe Revenue filed a batch of appeals challenging
concurrent findings of the Commissioner of Income Tax (Appeals) [CIT(A)] and
the Income Tax Appellate Tribunal (ITAT), both of which had deleted additio...