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WEL Intertrade Private Limited (Formerly WEL Intertrade Limited) & Another vs Income Tax Officer, Ward 18(3) | Delhi High Court | Reassessment under Sections 147 & 148 Beyond Four Years Held Invalid Due to Absence of Failure to Disclose Material Facts
Facts of the
CaseThe petitioners filed their return of income for
Assessment Year 2000-01 on 30.11.2000. The case was selected for scrutiny and
notices under the Income-tax Act were issued during assessment proceeding...
Commissioner of Income Tax vs. Dart Manufacturing India Pvt. Ltd. [Delhi High Court] – Expenditure on Installation of Transformer and LT Lines Held as Revenue Expenditure (AY 2001-02)
Facts of the
CaseThe assessee, Dart Manufacturing India Pvt. Ltd.,
paid Rs. 10,64,930/- to the State Electricity Board during Assessment Year
2001-02 towards installation of a transformer and Low Tension (LT) lines fo...
Commissioner of Income Tax, Delhi-XI vs Batra Bhatta Company (2008) – Reassessment under Sections 147 & 148 Cannot Be Initiated Merely for Deeper Scrutiny of Agricultural Land Exemption Claim
Facts of the
CaseThe assessee, Batra Bhatta Company, sold
agricultural land in March 1996 for Rs. 57,37,500 and claimed exemption under
Section 2(14) of the Income-tax Act, contending that the land was agricultural
l...
Commissioner of Income Tax, Delhi-VIII, New Delhi vs. M/s Atam Prakash & Sons & Another (2008) – No Capital Gains Arise Where Development Collaboration Does Not Result in Transfer of Capital Asset under Sections 2(47) and 45 of the Income-tax Act, 1961
Facts of the
CaseThe assessees were co-owners of leasehold property
situated at 22, Barakhamba Road, New Delhi. Initially, an agreement for sale
dated 24.06.1977 was executed with Skipper Sales Pvt. Ltd. (SSPL), where...
Commissioner of Income Tax, Delhi-IV, New Delhi vs. Hotline Teletube & Components Ltd., Delhi High Court, ITA No. 694/2008, decided on 11 August 2008.under section115JB of the Income Tax Act, 1961
Facts of the
CaseThe assessee, Hotline Teletube & Components
Ltd., filed its return of income declaring a loss. During scrutiny assessment
proceedings, the Assessing Officer examined a provision of Rs. 12,02,973/-...
ATS Promoters & Builders Pvt. Ltd. & Connected Matters vs Chief Commissioner of Income Tax, Delhi-I & Anr. | Delhi High Court | Transfer of Cases under Section 127 of the Income Tax Act Requires Consideration of Assessee’s Objections
Facts of the Case
The
Commissioner of Income Tax, Delhi-I, proposed transferring the
petitioners’ income tax cases from Delhi to Meerut.
Show
cause notices were issued regarding the proposed trans...
Anil Kumar Saha & Ors. vs Chief Commissioner of Income Tax, Delhi-I, New Delhi & Anr. | Delhi High Court Sets Aside Transfer of Income Tax Cases for Non-Speaking Order under Section 127(2) of the Income Tax Act, 1961
Facts of the Case
The
Commissioner of Income Tax, Delhi-I issued a proposal for transferring the
petitioners' assessment cases from Delhi to Meerut.
The
petitioners submitted detailed objections bef...
WEL Intertrade Private Limited (Formerly WEL Intertrade Limited) & Another vs Income Tax Officer, Ward 18(3) | Reassessment under Sections 147 & 148 Beyond Four Years Held Invalid Due to Absence of Failure to Disclose Material Facts
Facts of the CaseThe petitioner, WEL Intertrade Private Limited
(formerly WEL Intertrade Limited), filed its return of income for Assessment
Year 2000-01 on 30 November 2000.Subsequently, the case was selected fo...
Commissioner of Income Tax vs. Dart Manufacturing India Pvt. Ltd. (Delhi High Court) Expenditure on Installation of Transformer and LT Lines for Electricity Supply Held as Revenue Expenditure under the Income-tax Act under section 37(1) of the Income-tax Act, 1961
Facts of the
CaseThe assessee, Dart Manufacturing India Pvt. Ltd.,
paid a sum of ₹10,64,930 to the State Electricity Board during the Assessment
Year 2001-02 for installation of a transformer and Low Tension (...
Commissioner of Income Tax, Delhi-II vs Deepak Aggarwal & Mangla Marbles & Granite Pvt. Ltd. | Delhi High Court | Section 158BE, Section 158BC & Section 132 Income Tax Act | Limitation for Block Assessment and Validity of Subsequent Panchnama
Facts of the CaseThe Revenue filed appeals before the Delhi High
Court challenging a common order passed by the Income Tax Appellate Tribunal
(ITAT) in favour of the assessees, namely Deepak Aggarwal and Mangla
Marble...