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Shri. A.S. Chhachhi Vs. Commissioner of Income Tax: Sequence of Computing Long-Term Capital Gains Deductions Under Section 48(2) Vis-à-Vis Exemptions Under Sections 53 and 54 of Income Tax Act, 1961
FACTS OF THE CASE
Asset
& Transaction: During the financial period relevant to
the assessment year 1989-90, the Assessee (Shri. A.S. Chhachhi) owned a
residential house property situated at Jorbag...
THE COMMISSIONER OF INCOME TAX (CENTRAL)-I, DELHI vs M/S ANSAL PROPERTIES & INDUSTRIES (PVT) LTD.| under section 263 & Section 263(1) Explanation (c)
Facts
of the Case· A search and seizure operation under
Section 132 of the Income Tax Act, 1961, was conducted on the premises of the
assessee on February 10, 2000.· ...
Commissioner of Income Tax v. Living Media India Ltd. (2008): Scope of Section 194H of Income Tax Act, 1961 – Applicability of TDS on 15% Trade Discount Given to Advertising Agencies under INS Rules in Principal-to-Principal Contracts
Facts of the Case
The
Assessee (Living Media India Ltd.) is engaged in publishing
various magazines and sells/makes available space within those
publications for commercial advertising.
The
A...
Commissioner of Income Tax vs EXL Services.com (India) Ltd. – Allowability of Foreign Exchange Fluctuation Loss under the Income Tax Act | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High Court
challenging the order dated 13 April 2007 passed by the Income Tax Appellate
Tribunal, Delhi Bench ‘B’ in ITA No. 1495/Del/2006 pertaining to...
Commissioner of Income Tax (TDS) vs. GOM Overseas Ltd. | No Penalty Under Section 272A(2)(g) for Delay in Issuing TDS Certificates Due to Bona Fide Belief of Depositing Tax Before Certificate Issuance – Delhi High Court
Facts of the Case
The
Revenue filed appeals (ITA Nos. 847/2007, 845/2007, 846/2007, 853/2007,
906/2007) aggrieved by an order dated January 19, 2007, passed by the
Income Tax Appellate Tribunal (ITAT)...
Commissioner of Income Tax-XVII vs. Food Corporation of India, Contributory Provident Fund Trust under Section 201(1) & 201(1A)
Facts
of the CaseThe appellant (Revenue Department)
conducted survey proceedings at the premises of the respondent, the Food Corporation
of India, Contributory Provident Fund Trust. The trust is a Provident Fund
Trus...
Hughes Network Systems Pvt. Ltd. v. Deputy Commissioner of Income Tax & Others | Dismissal of Writ Petition on Account of Income Tax Appellate Tribunal (ITAT) Remand Order Rendering the Matter Infructuous | W.P.(C) No. 1867/2008 (Delhi HC)
Facts of the CaseThe Petitioner, Hughes Network Systems Pvt. Ltd., had
approached the High Court of Delhi by filing a Writ Petition [W.P.(C)
1867/2008] against the Deputy Commissioner of Income Tax and other respondent...
Commissioner of Income Tax-XVII vs. Food Corporation of India, Contributory Provident Fund Trust Income Tax Appeal Nos. 781/2008, 782/2008, 783/2008 & 808/2008 | Delhi High Court | Judgment Date: July 28, 2008
Facts
of the CaseThe respondent, Food Corporation of
India, Contributory Provident Fund Trust, is an employees' provident fund
trust. The trust was established after obtaining due exemption under Section 16
of the Em...
Commissioner of Income Tax, Delhi-XIV v. Late Shri Rajesh Pilot (through Legal Heir): Whether Election Campaign Funds Received Without Quid Pro Quo Constitute Taxable Income under the Income Tax Act – High Court of Delhi Analysis on Voluntariness, Source Disclosure, and the Rejection of Automatic Revenue Presumptions in the Absence of Quid Pro Quo
Facts of the Case
Assessee
& Assessment Year: The case pertains to the Assessment
Year 1992-93 involving the assessee, Late Shri Rajesh Pilot (who passed
away on July 29, 2000), with proceedings c...
Commissioner of Income Tax-XVII vs. Food Corporation of India, Contributory Provident Fund Trust| under section 16 of the EPF Act, 1952
Facts
of the Case·
The Respondent, Food Corporation of
India (FCI) Contributory Provident Fund Trust, is a employee-created provident
fund trust. It was formed after s...