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Mahanagar Telephone Nigam Ltd. (MTNL) vs. Commissioner of Income Tax, Delhi – Section 80-IA of the Income-Tax Act, 1961 | Deduction under Section 80-IA Remanded to Assessing Officer for Fresh Adjudication | Delhi High Court
Facts of the CaseThe appeal was filed by Mahanagar Telephone Nigam
Ltd. (MTNL) before the Delhi High Court challenging the order dated 11.10.2004
passed by the Income Tax Appellate Tribunal (ITAT), Delhi in ITA No.
53...
Rakesh Kalia vs Commissioner of Income Tax (Delhi High Court) – Addition of Unexplained Credit as Income under Section 68 of the Income-tax Act, 1961 | Burden to Prove Identity, Creditworthiness and Genuineness of Gift Transaction
Facts of the CaseThe assessee, Mr. Rakesh Kalia, had received a
credit entry of Rs. 2,55,000 in his savings bank account on 01.02.1992.
During assessment proceedings, he claimed that the amount represented a
gift/remi...
Basu Distributors Pvt. Ltd. vs. Income Tax Officer, Ward 2(3), New Delhi – Sections 40A(3), 143(2), 153(2A), 153(3) & 254 of the Income-Tax Act, 1961 | Whether ITAT's Limited Remand Results in Fresh Assessment Subject to Limitation Under Section 153(2A)
Facts of the CaseThe Petitioner, Basu Distributors Pvt. Ltd.,
challenged assessment proceedings initiated by the Assessing Officer (AO)
pursuant to an order of the Income Tax Appellate Tribunal (ITAT) dated
23.06.2000...
Commissioner of Income Tax, Delhi vs N.K. Rajgarhia – Allowability of Foreign Travel Expenses as Business Expenditure and Scope of Substantial Question of Law under Section 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee, N.K. Rajgarhia, was engaged in
the business of purchase and sale of shares, export of goods, and import of
machinery on a commission basis. During Assessment Years 1993-94 and 1994-95,
t...
Basu Distributors Pvt. Ltd. vs. Income Tax Officer, Ward 2(3), New Delhi – Sections 40A(3), 143(2), 153(2A), 250 & 254 of the Income-Tax Act, 1961 | Limitation for Fresh Assessment After ITAT Remand | Scope of Remand Orders and Applicability of Section 153(2A)
Facts of the CaseThe writ petitions related to Assessment Years
1992-93, 1993-94 and 1994-95. The Income Tax Appellate Tribunal (ITAT), by
order dated 23.06.2000, had allowed the Assessee's appeals and remanded certain...
Commissioner of Income Tax, Delhi vs N.K. Rajgarhia – Allowability of Travelling Expenses and Bogus Purchase Disallowance | AYs 1993-94 & 1994-95 | Delhi High Court
Facts of the CaseThe assessee, N.K. Rajgarhia, was engaged in
the business of sale and purchase of shares, export of goods, and import of machinery
on a commission basis. During Assessment Years 1993-94 and 1994-95, th...
Commissioner of Income Tax, Delhi-I v. Bhan Textile (P) Ltd. – Limitation for Fresh Assessment after Set Aside Order under Sections 153(2A), 153(3)(ii), 143(2) and 144 of the Income-tax Act, 1961
Facts of the Case
The assessee, Bhan Textile (P) Ltd., was subjected to a best
judgment assessment under Section 144 of the Income-tax Act on 31 March
1999.
The assessee challenged the assessment before t...
Commissioner of Income Tax vs. Jaypee Hotels Ltd. – Section 80HHD(3) of the Income-Tax Act, 1961 | Meaning of “Total Receipts of the Business” for Computing Deduction under Section 80HHD | Foreign Exchange Receipts from Money-Changing Activity Excludable from Numerator and Denominator
Facts of the CaseThe Revenue filed appeals before the Delhi High
Court challenging a common order dated 27 January 2006 passed by the Income Tax
Appellate Tribunal (ITAT) in favour of Jaypee Hotels Ltd. The dispute con...
KLM Royal Dutch Airlines & Anr. vs. Deputy Director of Income Tax: Delhi High Court Rules That an Order Rejecting Stay of Tax Recovery Under Section 220(6) Must Be a Composite Order That Explicitly Considers and Records Findings on the Existence of a Prima Facie Case
Facts of the Case
The
Petitioner, KLM Royal Dutch Airlines, faced an order passed by the
Assessing Officer refusing the stay of tax recovery under Section 220(6)
of the Income Tax Act.
Prior
...
Commissioner of Income Tax-V v. Rishab Ispat Ltd. – Carry Forward and Set-Off of Unabsorbed Depreciation under Sections 32(2), 154 and 260A of the Income-tax Act, 1961
Facts of the
Case
The assessee, Rishab Ispat Ltd., was engaged in the business of
manufacturing steel ingots.
The assessee filed its return of income for Assessment Year 1998-99
declaring nil incom...