Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Commissioner of Income Tax-III vs Sumi Motherson Innovative Engineering Ltd. | MAT u/s 115JB – Deduction of Brought Forward Losses Despite Capital Reduction | Delhi High Court
Facts of the Case
The
assessee company was engaged in manufacturing and sale of injection
moulded plastic parts, stamping parts, moulds and job work.
For
Assessment Year 2002-03, the assessee filed ...
Commissioner of Income Tax v. Bharat Seats Ltd. [2010] 2010:DHC:9626-DB (Delhi High Court) – Expenditure on Technical Know-How for Improvement of Existing Products Held Revenue Expenditure Allowable under Section 37(1) of the Income-tax Act
Facts of the CaseThe respondent-assessee, Bharat Seats Ltd., was
engaged in the business of manufacturing and selling automobile electrical
products such as starters, alternators, wiper motors, CDI units, and magnetos
...
Commissioner of Income Tax v. Bharat Seats Ltd. [2010] 2010:DHC:9696-DB (Delhi High Court) – Technical Know-How Fees for Product Improvement Held Revenue Expenditure and Not Capital Expenditure Eligible for Depreciation under Section 32 of the Income Tax Act
Facts of the Case
Bharat
Seats Ltd. was engaged in the manufacture and sale of automobile
electrical products including starters, alternators, wiper motors, CDI
units and magnetos.
The
assesse...
Commissioner of Income Tax v. Assessee (ITA No. 968/2008) – Delhi High Court Dismisses Revenue Appeal Following Earlier Decision in Assessee's Own Case | AY 1990-91
Facts of the Case
The
Income Tax Appellate Tribunal passed an order in favour of the assessee.
While
deciding the matter, the Tribunal relied upon a previous judgment of the
Delhi High Court rendere...
Commissioner of Income Tax vs. PNB Finance & Industries Ltd. (2010) – Profit on Sale of Long-Held Shares Assessable as Long-Term Capital Gains and Not Business Income | Delhi High Court
Facts of the Case
The
assessee, PNB Finance & Industries Ltd., filed its return of income
for Assessment Year 2003-04.
The
assessee declared long-term capital gains and claimed set-off of
...
Commissioner of Income Tax vs. PNB Finance & Industries Ltd. (2010) – Profit on Sale of Long-Held Shares Assessable as Long-Term Capital Gains and Not Business Income | Delhi High Court
Facts of the Case
The
assessee, PNB Finance & Industries Ltd., filed its return of income
for Assessment Year 2003-04.
The
assessee declared long-term capital gains and claimed set-off of
...
Sarthak Securities Co. Pvt. Ltd. v. Income Tax Officer, Ward 7(3) | Delhi High Court | Reassessment under Sections 147 & 148 Quashed for Lack of Independent Application of Mind (2010:DHC:5099-DB)
Facts of the CaseThe petitioner, Sarthak Securities Co. Pvt. Ltd.,
filed its return of income for Assessment Year 2003-04 declaring income of Rs.
15,360. The return was processed under Section 143(1) of the Income Tax ...
Commissioner of Income Tax v. Assessee (Name Not Reflected in Order) – Revenue Appeal Dismissed Due to Low Tax Effect Below ₹4 Lakhs | ITA No. 1581/2010 (Delhi High Court)
Facts of the
Case
The Revenue preferred an appeal
before the Delhi High Court under the provisions of the Income-tax Act,
1961.
The matter came up for hearing on 18
October 2010.
The Court examin...
Commissioner of Income Tax v. Assessee (Name Not Disclosed) | Delhi High Court | ITA No. 1574/2010 | Assessment under Section 144 Invalid Due to Non-Service of Notice at Correct Address
Facts of the Case
The
Assessing Officer passed a best judgment assessment under Section 144 of
the Income Tax Act, 1961.
The
assessment was framed on the basis that the assessee had failed to respon...
[Assessee Name] vs Commissioner of Income Tax – Delhi High Court Dismisses Revenue Appeal as Identical Issue Already Decided | ITA No. 1583/2010
Facts of the CaseThe appeal before the Delhi High Court arose from an order
passed by the Income Tax Appellate Tribunal. The Court noted that the issue
raised in the present appeal was identical to an issue that had al...