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Commissioner of Income Tax Vs. Asian Technocrates P.Ltd. (2010): Delhi High Court Ruling on the Imposition of Notional Interest Not Due or Collected under Section 260A of the Income Tax Act, 1961
Facts of the Case
The
Revenue Department (Commissioner of Income Tax) filed appeals (ITA
931/2010 and ITA 932/2010) before the High Court of Delhi at New Delhi
against the assessee, Asian Technocrates...
Commissioner of Income Tax v. Raj Kumar Gupta & Connected Matters [2010] 2010:DHC:12089 (Delhi High Court) – Section 40A(3) Disallowance Not Applicable to Kachha Arhatia Commission Agents Procuring Agricultural Produce
Facts of the
CaseThe Revenue preferred multiple appeals under
Section 260A of the Income-tax Act, 1961 against a common order passed by the
Income Tax Appellate Tribunal (ITAT). The dispute pertained to Assessment Yea...
Commissioner of Income Tax v. Ram Lal Gupta (2010) – Section 40A(3) Disallowance Not Applicable to Kachha Arhtiya Acting as Commission Agent for Procurement of Agricultural Produce | Delhi High Court
Facts of the
CaseThe assessee, Ram Lal Gupta, was engaged in the
business of a Kachha Arhtiya dealing in procurement of agricultural
commodities for mill owners and earning commission on such transactions. During
ass...
Commissioner of Income Tax v. Ram Lal Gupta & Raj Kumar Gupta (Delhi High Court) – Applicability of Section 40A(3) to Cash Payments Made by Kachha Arhtiya for Procurement of Agricultural Produce.
Facts of the
Case
The assessees were engaged in the business of agricultural produce
procurement as Kachha Arhtiyas and earned commission income.
During assessment proceedings, the Assessing Officer examined
...
Commissioner of Income Tax vs. Ram Lal Gupta (Delhi High Court) – Section 40A(3) Not Applicable to Kachha Arhtiya Acting as Commission Agent for Procurement of Agricultural Produce
Facts of the CaseThe assessee, Ram Lal Gupta, was engaged in the
business of procuring agricultural commodities such as wheat and channa for
mill owners on a commission basis as a Kachha Arhtiya. He procured agricultur...
Commissioner of Income Tax vs. Raj Kumar Gupta | Delhi High Court Upholds Non-Applicability of Section 40A(3) to Kachha Arhtiya Acting as Commission Agent for Agricultural Produce Procurement
Facts of the
CaseThe assessee, Raj Kumar Gupta, was engaged in the
business of procurement of agricultural produce as a Kachha Arhtiya
(commission agent) through his proprietary concern. The assessee procured
agricul...
Commissioner of Income Tax v. Ram Lal Gupta
Facts of the Case
The assessee, proprietor of M/s Mangal & Co., earned commission
income by procuring agricultural commodities for mill owners.
For Assessment Year 2006-07, the assessee filed his return
...
Commissioner of Income Tax v. Rohit Anand [2010] 2010:DHC:4043-DB (Delhi High Court).
Facts of the
CaseThe Revenue filed an appeal under Section 260A of
the Income Tax Act, 1961 challenging the order passed by the Income Tax
Appellate Tribunal for Assessment Year 2006-07.The assessee, Rohit Anand, was ...
Commissioner of Income Tax vs. Mr. I.P. Chaudhari (Delhi High Court) – Applicability of Section 52 on Transfer of Shares to Relatives and Requirement of Proof of Understatement of Consideration
Facts of the Case
The assessee transferred 3,500 equity shares of M/s Rentiers &
Financiers (P) Ltd. to his family members.
The shares having a face value of Rs. 800 per share were
transferred at Rs. ...
Commissioner of Income Tax vs Blue Bird Group Assessees | Block Assessment Additions on Alleged Bogus Gifts Cannot Survive Without Incriminating Material Found During Search | Delhi High Court
Facts of the Case
A search and seizure operation was conducted at the residential and
business premises of the Blue Bird Group of Companies.
Following the search, notices for block assessment were issued to
...