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Commissioner of Income Tax-I vs Accession Buildwell (P) Ltd. – Taxability of Interest on Fixed Deposits and Allowability of Business Expenditure under the Income-tax Act
Facts of the Case
The assessee
company was engaged in the business of builders and developers.
It raised funds
through debentures for business expansion and land acquisition.
As per the
Debenture ...
Commissioner of Income Tax, Central-II vs. Divine Infracon Pvt. Ltd. | Section 68 & Section 153A of Income Tax Act | Revenue Cannot Challenge Final CIT(A) Findings Without Filing Appeal | Delhi High Court
Facts of the CaseThe assessee, Divine Infracon Pvt. Ltd., filed its return of
income for Assessment Year 2008-09 declaring total income of ₹3,84,027.
Subsequently, search and seizure operations were conducted on 14 S...
Pr. Commissioner of Income Tax-08 vs Staunch Marketing Pvt. Ltd. | Mandatory Notice under Section 143(2) after Reassessment Proceedings under Section 148 – Delhi High Court
Facts
of the CaseThe Revenue preferred
an appeal under Section 260A of the Income Tax Act, 1961 against the order of
the Income Tax Appellate Tribunal (ITAT) concerning Assessment Year 2003–04.
The Assessing Office...
Shri Lal Mahal Limited vs Commissioner of Income Tax (Delhi High Court) – Section 80HHC Deduction on DEPB Benefits, Retrospective Amendment & Export Incentive Tax Relief
Facts
of the CaseThe assessee, Shri Lal
Mahal Limited, engaged in export business activities, claimed deduction under
Section 80HHC of the Income Tax Act in respect of export profits, including
benefits arising from ...
Commissioner of Income Tax, Central-II vs. Divine Infracon Pvt. Ltd. | Scope of Section 153A Assessment and Finality of CIT(A) Findings under Section 68 of the Income Tax Act
Facts of the Case
The
assessee, Divine Infracon Pvt. Ltd., filed its return of income for
Assessment Year 2008-09 declaring total income of ₹3,84,027/-.
Subsequently,
a search and seizure operatio...
Vatika Limited v. Commissioner of Income Tax – Addition on Account of Alleged On-Money Receipts in Real Estate Transactions under Block Assessment
Facts of the
CaseThe assessee, Vatika Limited (formerly Vatika
Land Base Pvt. Ltd.), was subjected to a search and seizure operation under
Section 132 of the Income-tax Act. During the course of the search, various
d...
Shri Lal Mahal Ltd. vs Commissioner of Income Tax (Delhi High Court) – Scope of Section 153A Assessment and Retrospective Amendment under Section 80HHC
Facts
of the CaseThe assessee, Shri Lal
Mahal Limited, was engaged in export business and claimed deduction under
Section 80HHC of the Income Tax Act. The original assessment for the relevant
Assessment Year (1999–...
Shri Lal Mahal Ltd. vs Commissioner of Income Tax (Delhi High Court) – Section 80HHC Deduction, Retrospective Amendment & Section 153A Assessment
Facts of the CaseThe
assessee, Shri Lal Mahal Limited, was engaged in export business and was
entitled to deduction under Section 80HHC of the Income-tax Act. For Assessment
Year 1999–2000, its return was processed ...
Commissioner of Income Tax (C)-I vs. MGF Automobiles Ltd.: Validity of Assessments Under Section 153A Without Incriminating Material
Facts of the CaseThe Respondent Assessee, a company engaged in car dealership
and service, underwent an amalgamation with Compact Motors Limited (CML)
effective from April 1, 2003. For Assessment Years (AY) 2004-05 and...
Shravan Gupta v. Assistant Commissioner of Income Tax (ACIT) | Delhi High Court | Sanction for Prosecution under Section 276D Income Tax Act Quashed for Non-Consideration of Material Replies
Facts of the CaseThe petitioner, Shravan Gupta, voluntarily
disclosed the existence of a foreign bank account maintained with HSBC Private
Bank, Geneva, Switzerland, before the Income Tax Department through a letter
d...