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Commissioner of Income Tax, Delhi-VII vs Shri Vivek Dougall – Non-Compete Fee Already Disclosed in Regular Return Cannot Be Treated as Undisclosed Income in Block Assessment under Sections 158B(b) and 158BC of the Income-tax Act, 1961
Facts of the
Case
Shri Vivek Dougall was one of the promoters of Atul Glass
Industries Limited (AGIL) and Maharashtra Glass & Agro Limited
(MGAL).
A French company, Sekruti Saint Gobain (SSB), intend...
Commissioner of Income Tax vs Escorts Tractors Ltd. – Deductibility of Non-Convertible Debenture Issue Expenses and Applicability of Section 35D of the Income-tax Act, 1961
Facts of the CaseThe assessee, M/s Escorts Tractors Ltd., incurred expenditure
of ₹38,33,681 in connection with the rights issue of non-convertible debentures
during the Assessment Year 1995-96. The assessee claimed ...
Commissioner of Income Tax, Delhi-VI vs T.E.I. Technologies (Pvt.) Ltd. – Technical Support Fee Held Revenue Expenditure and Not Capital Expenditure under the Income-tax Act, 1961
Facts of the
Case
T.E.I. Technologies (Pvt.) Ltd. entered into a joint venture
arrangement with Tyco Asia Investment Ltd. and Elentec Co. Ltd.
The joint venture was formed for manufacturing CRT sockets,
...
Abhinav Bajaj v. Income Tax Officer – Criminal Prosecution under Section 276B Quashed Due to Wrong Assessment Year Mentioned in Complaint | Delhi High Court (2006)
Facts of the CaseThe Income Tax Department filed a criminal
complaint against four accused persons under Section 276B of the Income-tax
Act, 1961 alleging failure to deposit tax deducted at source (TDS) with the
Incom...
Narinder Jeet Kanwar vs Commissioner of Income Tax – Section 260A of the Income Tax Act, 1961 | Bogus Share Transactions and Capital Gains Claim Rejected
Facts of the CaseThe assessee, Narinder Jeet Kanwar, challenged the order of
the Income Tax Appellate Tribunal relating to Assessment Year 1997-98. The
assessee claimed to have entered into share sale transactions invo...
Commissioner of Income Tax, Delhi v. Mount Everest Mineral Water Ltd. – Interest Income Taxable as ‘Income from Other Sources’ Where Corresponding Expenditure Allowed under Section 57(iii) | Delhi High Court (2006)
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court against Mount Everest Mineral Water Ltd. concerning the taxability
of certain interest income earned by the assessee.During the hearing, learned ...
Commissioner of Income Tax v. British Airways – Penalty under Section 271C for Alleged Short Deduction of TDS on Meal and Conveyance Allowance Paid to Cabin Crew | Delhi High Court (2006)
Facts of the CaseThe dispute concerned the levy of penalty under Section
271C of the Income-tax Act on British Airways for alleged short deduction of
tax at source (TDS) on payments made to its cabin crew towards:
Me...
Commissioner of Income Tax v. Morgan Securities & Credits (P.) Ltd. – Bad Debt Deduction Allowed on Write-Off Without Proving Irrecoverability | Sections 36(1)(vii) & 36(2) | Delhi High Court (2006)
Facts of the CaseMorgan Securities & Credits (P.) Ltd. was
engaged in the business of money lending through Inter-Corporate Deposits
(ICDs) and other loans.During the relevant assessment year, the assessee
wrote o...
Schneider Electric India Ltd. vs Commissioner of Income Tax, Delhi & Anr. – Disallowance of Sales Commission Expenditure for Lack of Evidence under Section 37(1) of the Income-tax Act, 1961
Facts of the
Case
Schneider Electric India Ltd. was engaged in trading industrial and
electronic items and had commenced manufacturing electrical equipment such
as circuit breakers.
For Assessment Year 1...
Commissioner of Income Tax v. Lotus Trans Travels Pvt. Ltd. – Computation of Deduction under Section 80HHD and Exclusion of Foreign Exchange Receipts Passed on to Other Hotels | Delhi High Court (2006)
Facts of the CaseLotus Trans Travels Pvt. Ltd. was engaged in the
business of a travel agency, tour operations, and hotel business under the name
"Nikko Hotel."The assessee received foreign exchange from foreign
touri...