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Moradabad Toll Road Co. Ltd. vs. Assistant Commissioner of Income Tax: Whether Toll Roads Qualify as ‘Plant’ or ‘Building’ for Depreciation under Section 32 of the Income Tax Act
Facts of the CaseThe Appellant, Moradabad Toll Road Co. Ltd., is a 100%
subsidiary of the National Highways Authority of India (NHAI). It was
established specifically to construct a 18.2 km highway and bypass at Morada...
CIT vs. M/S Industrial Finance Corporation of India Ltd.: Computation of Section 80M Deductions and Amortization of Leasehold Expenses
Facts of the CaseThe respondent-assessee, M/S Industrial Finance Corporation of
India Limited, filed its return for Assessment Year 1986-87, which was assessed
under Section 143(3) of the Income Tax Act, 1961. The asse...
UCO Bank vs. Union of India & Ors. : Applicability of TDS on Interest Accrued on Court-Ordered Fixed Deposits under Section 194A
Facts of the CaseThe petitioner, UCO Bank, held several Fixed Deposits (FDs) in
the name of the Registrar General of the Delhi High Court. These
deposits were made pursuant to court orders in various litigations where ...
Commissioner of Income Tax, Central-I, New Delhi vs. Shailendra Mahato, Simon Marandi, Jharkhand Mukti Morcha, Shibu Soren, and Suraj Mandal (2014:DHC:5900-DB)
Facts of the Case:
Search
warrants were executed on April 26, 1996, at Punjab National Bank, Naoroji
Nagar, New Delhi.
The
search uncovered multiple Savings Bank (SB) accounts and Fixed Deposit
...
Om Fincap Pvt. Ltd. & Ors. vs. Commissioner of Income Tax: Quashing of Search Proceedings Due to Mistaken Identity under Section 132
Facts of the
CaseThe Income Tax
Department initiated search operations on 23.05.2013 at the residential
and office premises of the petitioners. The department believed the petitioner,
Mr. Om Prakash Dhingra, was a di...
High Court Quashes Income Tax Search Operations Due to Mistaken Identity: Om Prakash Dhingra vs. CIT Section 132
Facts of the CaseThe case involved three interconnected writ petitions filed by
Om Prakash Dhingra, his son Pawan Kumar Dhingra, and their company, Om Fincap
Private Limited. The Income Tax Department had issued a warr...
Commissioner of Income Tax vs. Hari Chand Shri Gopal: Disallowance of Brand Building Expenses under Section 37(1) vs. Subjective Reasonableness
Facts of the CaseThe respondent, an individual, was subjected to proceedings
under Section 153C of the Income Tax Act, 1961, following a search and
seizure operation on the Gopal Zarda group. During the assessment year...
Director of Income Tax (Exemption) vs. M/S Indraprastha Cancer Society (2014) | Section 11 - Depreciation Claim on Capital Assets
Facts of the CaseThe respondent-assessees are charitable institutions governed
by Sections 11 to 13 of the Income Tax Act, 1961. The institutions purchased
capital assets and treated the expenditure incurred on these p...
Commissioner of Income Tax-II vs. JDS Apparels Private Limited: Applicability of Section 194H on Credit Card Commission
Facts of the CaseThe respondent-assessee, JDS Apparels Private Limited,
is engaged in the business of trading readymade garments. During the assessment
year 2009-10, the assessee utilized card swiping machines provided...
CIT-VI vs. Valvoline Cummins Ltd.: Reassessment Cannot Be Based on Mere Suspicion of "Unascertained Liability" Under Section 147
Facts of the CaseThe respondent-assessee, Valvoline Cummins Ltd.,
filed its return of income for the assessment year 2006-07 on November 30,
2006, declaring an income of ₹9,52,15,517. The assessment was initially
co...