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Commissioner of Income Tax vs I.T.C. LimitedWhether Royalty Paid for Operating Executive Lounge at Airport Constitutes ‘Rent’ Liable for TDS under Section 194-I of the Income Tax Act, 1961 and Whether Penalty under Section 271C is Sustainable?
Facts of the
CaseThe present matter arose out of multiple appeals
filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the
order of the Income Tax Appellate Tribunal (ITAT). The dispute concerne...
Canyon Financial Services Ltd. vs Income Tax Officer (Delhi High Court) – Scope of Section 153C of Income Tax Act and Validity of Satisfaction Note in Search Assessments
Facts of the CaseThe present writ petitions were filed by Canyon
Financial Services Ltd. challenging the satisfaction notes dated 13
March 2014 and 19 March 2014, through which proceedings under Section
153C of ...
Commissioner of Income Tax vs International Tractors Ltd. – Delhi High Court on Deduction under Section 80-IA, Reassessment under Sections 147/148, Revision under Section 263 & Disallowance under Section 40(a)(i) of the Income-tax Act, 1961
Facts of the
CaseThe assessee, International Tractors Ltd., was
engaged in the business of manufacturing and trading agricultural tractors,
tractor parts, and components. The company commenced production in Financial
...
TDS on Airport Lounge Royalty / Licence Fee – Whether Payment to Airports Authority of India Constitutes ‘Rent’ under Section 194-I of the Income Tax Act, 1961 | Penalty u/s 271C and Interest u/s 201(1A)
Facts of the
CaseThe assessee, I.T.C. Limited, was awarded a
contract by the Airports Authority of India (AAI) to operate an Executive
Lounge at Indira Gandhi International Airport, New Delhi, through a competit...
Canyon Financial Services Ltd. vs Income Tax Officer | Delhi High Court on Validity of Section 153C Proceedings and “Belongs To” Test under Income Tax Act, 1961
Facts of the
CaseThe petitioner, Canyon Financial Services Ltd.,
challenged the legality of satisfaction notes dated 13 March 2014 and 19 March
2014 issued by the Assessing Officers for initiating proceedings under Se...
Delhi High Court | Section 80-IA Deduction to Small Scale Industrial Undertakings (SSI) – Eligibility in Initial Assessment Year vs Subsequent Years | Reassessment u/s 147, Revision u/s 263 & Disallowance u/s 40(a)(i)
Facts of the CaseThe assessee, International Tractors Ltd., was
incorporated in 1995 and engaged in manufacturing and trading agricultural
tractors, tractor parts, and components. Production commenced during Financial
...
Canyon Financial Services Ltd. vs Income Tax Officer (Delhi High Court) – Validity of Proceedings under Section 153C of the Income Tax Act, 1961 | Interpretation of “Belongs To” vs “Pertains To” in Search Assessments
Facts of the
CaseThe Income Tax Department conducted search and
seizure operations in the Dalmia Group cases in January 2012. During the
search, documents were recovered from the possession of Dalmia Equities Pv...
Commissioner of Income Tax vs I.T.C. LimitedWhether Royalty Paid for Operating Executive Lounge at Airport Constitutes ‘Rent’ Liable for TDS under Section 194-I of the Income Tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee, I.T.C. Limited, was awarded a
contract by the Airports Authority of India for running an Executive Lounge at
the International Terminal of IGI Airport after a competitive bidding process...
Commissioner of Income Tax vs. International Tractors Ltd. Delhi High Court | ITA Nos. 1082/2005, 690/2008, 225/2009, 1189/2009 & 251/2010 | Judgment dated 20 July 2017 Section 80-IA, Section 147, Section 148, Section 263 & Section 40(a)(i) of the Income-tax Act, 1961 – Deduction to Small Scale Industrial Undertaking (SSI), Reassessment, Revisionary Jurisdiction and TDS on Reimbursement of Expenses
Facts of the CaseThe assessee, International Tractors Ltd., was
incorporated in 1995 and engaged in manufacturing and trading agricultural
tractors and tractor parts. It commenced production in Financial Year 1997-98
...
Canyon Financial Services Ltd. vs Income Tax Officer (Delhi High Court) – Scope of Section 153C of the Income Tax Act, 1961 | Requirement of “Belongs To” for Valid Satisfaction Note in Search Assessment Proceedings
Facts of the
CaseThe petitioner, Canyon Financial Services Ltd.,
challenged satisfaction notes dated 13 March 2014 and 19 March 2014 issued by
the Assessing Officers for initiating proceedings under Section 153C...