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Commissioner of Income Tax-III vs Sunrise Tooling System Pvt. Ltd. – Statement Recorded During Survey under Section 133A Has No Evidentiary Value for Addition on Alleged Bogus Purchases | Delhi High Court
Facts of the
CaseFor Assessment Year 2006–07, the Assessing Officer
made an addition of ₹43,34,496/- on the basis of a statement allegedly made by
Mr. D.K. Jain, Director of the assessee company, wherein it was st...
Commissioner of Income Tax-IV vs Empire Buildtech Pvt. Ltd. – Addition under Section 68 on Unexplained Share Capital and Share Premium where Investor Creditworthiness Not Established (Delhi High Court)
Facts of the
Case
The assessee company was incorporated on 20.10.2005 and commenced
business thereafter.
For Assessment Year 2006–07, it disclosed receipt of share capital
of ₹11 lakhs and issued sha...
Mohan Gupta (HUF) vs Commissioner of Income Tax-XI & Anr. – Delhi High Court on Reassessment under Sections 147/148 of Income Tax Act: Reopening Invalid Without Tangible Material (2014:DHC:539-DB)
Facts of the Case
The petitioner, Mohan Gupta (HUF), filed its income tax return for
AY 2005–06 declaring net income of ₹16,98,732/-.
The return was processed under Section 143(1) of the Income Tax
Ac...
Commissioner of Income Tax (CIT) vs Jayshree Gems & Jewellery – Section 10A Deduction on Export of Jewellery Manufacturing through Job Work and Allowability of Design & Fabrication Expenses | Delhi High Court
Facts of the
CaseThe assessee was a partnership firm engaged in
manufacturing and export of plated and studded jewellery. The firm came into
existence on 12.08.2000 and obtained a Central Government licence on
18.08....
Commissioner of Income Tax (CIT) vs Jayshree Gems & Jewellery | Section 10A Deduction on Jewellery Manufacturing through Job Work and Export Activities | Delhi High Court
Facts of the
CaseThe assessee was a partnership firm engaged in
manufacturing and exporting plated and studded jewellery and had obtained a
licence from the Central Government on 18.08.2000. The firm claimed deduction...
Commissioner of Income Tax–V vs M/s Quantum Coders Ltd. | Section 10A of Income Tax Act – Eligibility of STPI Units for Deduction Despite Prior Commencement of Software Production | Delhi High Court
Facts of the
Case
The assessee, M/s Quantum Coders Ltd., declared NIL income
for Assessment Year 2007–08 after claiming deduction under Section 10A.
The assessee relied upon an STPI approval certificate issu...
M/s Mahashay Chunnilal Charitable Trust vs Deputy Commissioner of Income Tax & Others | Delhi High Court Quashes Reassessment Based Solely on DVO Report under Sections 147/148 of Income Tax Act
Facts of the
Case
The petitioner was a charitable trust engaged in running hospitals
and educational institutions.
Assessments for AY 2005-06 and AY 2006-07 had already been
completed under Sections 153A...
Director of Income Tax (International Taxation) vs M/s e-Funds IT Solution & e-Funds Corporation – Permanent Establishment under India–USA DTAA, Business Connection and Attribution of Income | Delhi High Court
Facts of the
Case
The assessees were companies incorporated in the United States and
were tax residents of the USA.
The foreign entities had international transactions with e-Funds
International India Pv...
Oswal Agro Mills Ltd. vs Commissioner of Income Tax (Delhi High Court) – Disputed Additional Customs Duty, Contingent Liability and Section 43B Deduction under Income Tax Act, 1961
Facts of the
CaseOswal Agro Mills Ltd. entered into agreements with
certain importers for the purchase of imported Palm Stearine Fatty Acid. Under
the agreements, the assessee agreed to purchase the imported material ...
Commissioner of Income Tax (Central)-II vs. Income Tax Settlement Commission & Anr. – Delhi High Court Clarifies That Immunity under Section 245H Cannot Be Granted Without Full and True Disclosure of Income
Facts of the
CaseA search operation under Section 132 of the Income
Tax Act was conducted on the business premises of the assessee and associated
group entities. During the search, incriminating materials, documents, ...