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THE COMMISSIONER OF INCOME TAX-III vs TONY ELECTRONICS LIMITED ITA 633/2010 & ITA 1053/2010 - Deduction Under Sections 80HH, 80IA, and Depreciation Issues
Facts of the
Case:The Income Tax Department (Appellant) filed appeals
against the order passed by the Income Tax Appellate Tribunal (ITAT) on 17th
July 2009 for the Assessment Year (AY) 1996-97. The disputes centered ...
Deduction Eligibility under Sections 80HHB & 80HHBA for Engineering Consultancy in Foreign and World Bank-Aided Projects – Delhi High Court Decision
Facts of the
Case:
The assessee declared income of 2,83,46,223/-
and claimed deductions of 70,52,819/- under Section
80HHBA and `1,33,54,593/- under Section 80HHB.
The Assessing Officer contended that t...
Commissioner of Income Tax-VI v. M/s Unitech Ltd. - Interpretation of Section 80AC of the Income Tax Act - Jurisdiction under Section 263 – Appeal Dismisse
Facts of the
Case:The Assessee, M/s Unitech Ltd., filed its income
tax return for the assessment year (AY) 2008-09 on 2nd April 2009, claiming a
deduction under Section 80IB(10). However, the Assessing Officer allowed...
Commissioner of Income Tax, Delhi vs. J.B. Roy & Others – Deduction of Interest on Borrowed Funds for Investment in Unquoted Shares under Section 57(iii) of the Income Tax Act, 1961
Facts of the
Case
The assesses, including J.B. Roy, held positions in various Sahara
Group companies.
For AY 1994-1995, the assesses declared a loss of ₹50,54,928 under
"Income from Other Sources" rel...
Principal Commissioner of Income Tax–21 vs Universal Precision Screws | Delhi High Court | Section 10B Deduction on Scrap Sale, Foreign Exchange Fluctuation and FDR Interest
Facts of the
CaseThe assessee, Universal Precision Screws, was
engaged in the business of manufacturing and exporting fasteners and operated
as a 100% Export Oriented Unit (EOU). For Assessment Year 2009–10, the
as...
Pr. Commissioner of Income Tax vs E-Funds International India Pvt. Ltd. | Delhi High Court | Revised Computation of Income and Deduction under Sections 10A & 80HHE of the Income Tax Act
Facts of the
CaseThe assessee had established a Software Development
Centre (SDC) in Chennai and a Shared Service Centre (SSC) in Gurgaon.For Assessment Year 2000-01, the assessee declared
income and initially reporte...
Sanjay Ghai vs Asstt. Commissioner of Income Tax & Ors. – Liability of Directors Under Section 179 of the Income Tax Act
Facts of the
Case:The petitioner, Sanjay Ghai, a director of M/s
Sarvodaya Realtors Pvt. Ltd., challenged the orders passed by the Assistant
Commissioner of Income Tax (ACIT) under Sections 179 and 154 of the Income T...
Seagram Distilleries Pvt. Ltd. (Now Pernod Ricard India Pvt. Ltd.) vs Commissioner of Income Tax–III, New Delhi | Delhi High Cour Provision for Transit Breakages – Whether Allowable Business Deduction under Section 37(1) of the Income Tax Act, 1961 or Contingent Liability?
Facts of the
CaseThe appellants, Seagram Distilleries Pvt. Ltd.
and Seagram Manufacturing Pvt. Ltd. (subsequently merged into Pernod
Ricard India Pvt. Ltd.), were engaged in the manufacture, blending, bottling,
and s...
Sanjay Ghai vs Assistant Commissioner of Income Tax & Ors.: Liability of Directors under Section 179 of the Income Tax Act, 1961
Facts of the
Case:The petitioner, Sanjay Ghai, an individual
and sole surviving director of M/s Sarvodaya Realtors Pvt. Ltd.,
challenged the orders passed by the first respondent under Sections 179 and
154 of the Inc...
The Commissioner of Income Tax-VI vs Vatika Construction Pvt. Ltd.: Penalty under Section 271(1)(c) and Application of Section 44AD
Facts of the
CaseThe assessee, Vatika Construction Pvt. Ltd.,
engaged in construction business, filed its income tax return for Assessment
Year 2004-05. During assessment, the Assessing Officer (AO) questioned payment...