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Pr. Commissioner of Income Tax-4 vs G & G Pharma India Ltd | Reopening of Assessment under Section 147/148 of Income Tax Act, 1961 | Jurisdictional Requirement for Assessing Officer
Fact of the Case
The
Assessee, G & G Pharma India Ltd, filed its return for AY
2003-04 on 14th November 2004, declaring income of Rs. 1,190, processed
under Section 143(3).
More
than six...
Commissioner of Income Tax-IV vs M/s Global Vantedge Pvt. Ltd. | Delhi High Court on Transfer Pricing Adjustment, Arm's Length Price Restriction & Comparable Selection under Section 144C of the Income Tax Act
Facts of the
CaseM/s Global Vantedge Pvt. Ltd. was an Indian company
incorporated under the Companies Act, 1956 and a subsidiary of Global Vantedge
(Mauritius) Limited. The company operated from Gurgaon, Haryana and c...
Director of Income Tax (Exemption) Vs. Indian Trade Promotion Organisation & Connected Matters - Depreciation on Capital Assets as Application of Income under Section 11(1)(a) of the Income Tax Act | Delhi High Court
Facts of the
CaseMultiple appeals were filed by the Revenue
involving charitable institutions and trusts, including Indian Trade Promotion
Organisation and other entities, raising a common issue concerning
interpreta...
Oracle Systems Corporation vs Assistant Director of Income Tax, Circle 2(1), International Taxation, New Delhi High Court | W.P.(C) Nos. 12856/2009 & 12870/2009 | Decided on 08.10.2015
Facts of the
Case
Oracle Systems Corporation, a US-based company, was engaged in
software supply and replication business.
Original assessments for AY 2002-03 and AY 2003-04 were completed
under Section ...
Commissioner of Income Tax vs N Tarika Properties Investment Pvt. Ltd. | Section 68 Share Application Money Case – Bogus Share Capital, Creditworthiness & Genuineness of Transaction under Income Tax Act
Facts of the
CaseThe assessee filed its return for Assessment Year
2001–02 declaring income of Rs.1,42,508 and assessment was completed under
Section 143(3). Subsequently, information was received from the Investiga...
Turner Broadcasting Systems Asia Pacific Inc. vs Deputy Director of Income Tax (Delhi High Court) – Reassessment u/s 147/148 Invalid on Mere Change of Opinion | Sections 143(3), 147, 148 & 115A Income Tax Act
Facts of the
CaseThe petitioner, Turner Broadcasting Systems Asia
Pacific Inc. (formerly Turner Entertainment Network Asia Inc.), a tax resident
of the USA, derived revenue from India through grant of exclusive rights...
Thomson Press (India) Ltd. vs Commissioner of Income Tax-II (Delhi High Court, 2015) – Section 10A & 263 of the Income Tax Act
Facts of the Case:
The
Assessee, Thomson Press (India) Ltd., operated multiple industrial
undertakings, including NEPZ, Noida, qualifying for exemption under
Section 10A of the Income Tax Act.
Inte...
Thomson Press (India) Ltd. vs Commissioner of Income Tax-II (Delhi High Court, 2015) – Section 10A & 263 of the Income Tax Act
Facts of the Case:
The
Assessee, Thomson Press (India) Ltd., operated multiple industrial
undertakings, including NEPZ, Noida, qualifying for exemption under
Section 10A of the Income Tax Act.
Inte...
Commissioner of Income Tax-II vs MAF Academy Pvt. Ltd. - Delhi High Court on Section 68 Addition, Accommodation Entries and Burden of Proof in Share Capital Transactions
Facts of the
Case
The assessee filed its return for Assessment Year 2002–03 declaring
nil income.
The return was initially processed under Section 143(1).
Information was subsequently received from t...
Coperion Ideal Pvt. Ltd. vs Commissioner of Income Tax-II (Delhi High Court) | Reassessment under Sections 147/148 Invalid After Four Years in Absence of Failure to Disclose Material Facts
Facts of the
CaseThe assessee, Coperion Ideal Private Limited, filed
its income tax return for Assessment Year 2002–03 declaring income of Rs.
67,91,500. The return was scrutinized and assessment was completed under...