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Commissioner of Income Tax versus Getit Infomediary Limited: Judicial Interpretation of Deduction for Bad Debts Under Section 36 1 vii of the Income Tax Act 1961
Facts of the CaseThe assessee claimed a deduction of 1,67,33,202 rupees as bad
debts written off during the assessment year 2003 2004. This amount comprised
debts owed by government telephone departments and priv...
S.N.P. Punj v. Deputy Commissioner of Income Tax, Maya Rani Punj & Ors. v. Deputy Commissioner of Income Tax and N.P. Punj v. Roshan Sahay, Deputy Commissioner of Income Tax – Prosecution under Sections 276CC, 276D and 278B of the Income-tax Act Quashed for Lack of Specific Allegations Regarding Responsibility for Conduct of Business
Facts of the CaseThe Income Tax Department instituted a criminal
complaint against M/s Dayagen and its partners for Assessment Year 1988-89
alleging failure to file the return of income within the prescribed period and...
Commissioner of Income Tax versus Smt. Nilofer I. Singh: Interpretation of Full Value of Consideration and Bad Debts Deduction under the Income Tax Act 1961
Facts of the CaseThe assessee sold two properties, one in Mumbai and one in
Delhi, and disclosed capital gains based on the actual sale consideration.
During assessment proceedings under Section 143 3, the Assessing Of...
Commissioner of Income Tax, Delhi vs Mission Viejo Agro Pvt. Ltd. – Section 36(1)(iii) Interest Deduction on Borrowed Funds and Interest-Free Advances | Delhi High Court
Facts of the CaseThe assessee, Mission Viejo Agro Pvt. Ltd., was
engaged in cultivation, dealing in agricultural produce, and setting up farms,
orchards, and horticultural projects. During Assessment Year 1997-98, the
...
Commissioner of Income Tax vs M/s Iyer & Co. (ITA No. 293/2006) – Penalty under Section 271(1)(c) on Assessed Loss Cases, Applicability of Explanation 4 and Remand to ITAT by Delhi High Court
Facts of the
CaseThe dispute arose from the deletion of a penalty
imposed under Section 271(1)(c) of the Income-tax Act, 1961. The
assessee's total income was ultimately assessed at a loss/minus figure,
and the...
Commissioner of Income Tax vs M/s Royal & Sunalliance – Dismissal of Revenue Appeal Following Earlier Precedent | Income Tax Appeal No. 122/2006 (Delhi High Court)
Facts of the
CaseThe Revenue, namely the Commissioner of Income Tax,
filed an appeal before the Delhi High Court against the order passed in favour
of M/s Royal & Sunalliance. The matter came up before the Divisio...
Commissioner of Income Tax-V Vs. Realest Builders & Services Ltd: Deductibility of Bad Debts under Section 36(1)(vii) - Delhi High Court
Facts of the Case·
The case pertains to the assessment year 2001-02
and arises from an order dated 22.06.2006 passed by the Income Tax Appellate
Tribunal (Tribuna...
Commissioner of Income Tax (TDS) vs Continental Carriers Pvt. Ltd. – Applicability of Sections 194C, 172 and 201 of the Income-tax Act, 1961 on Ocean Freight and Inland Haulage Charges Paid to Agents of Non-Resident Shipping Companies
Facts of the
CaseThe respondent-assessee, M/s Continental Carriers
Pvt. Ltd., was engaged in the business of freight forwarding. During a survey
operation, the Income Tax Department found that the assessee had made pa...
Commissioner of Income Tax vs Modi Xerox Ltd. | Royalty Expenditure, Scientific Research Deduction under Section 35(1)(iv), 100% Depreciation on Pollution Control Equipment & Section 80HHC Computation Settled in Favour of Assessee – Delhi High Court
Facts of the CaseThe Revenue filed the present appeal relating to Assessment
Year 2000-01 challenging the order of the Income Tax Appellate Tribunal (ITAT).The Revenue proposed several questions of law concerning:...
Commissioner of Income Tax vs Target Chemicals Pvt. Ltd. – Delhi High Court | ITA No. 1621/2006 | Appeal Dismissed for Absence of Substantial Question of Law under Section 260A of the Income-tax Act, 1961
Facts of the
CaseThe Revenue, namely the Commissioner of Income Tax,
preferred an appeal before the Delhi High Court against the order passed in
favour of the assessee, Target Chemicals Pvt. Ltd. The appeal was ...