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Ahluwalia Contracts (I) Ltd. vs. Joint Commissioner of Income Tax (2007) | Levy of Penalty under Section 271(1)(c) for Concealment of Income on Unaccounted Cash Receipts Discovered During Search Operation under Section 132 | Delhi High Court Case Law Analytics
Facts of the Case
Assessee’s
Business: The Appellant, M/s Ahluwalia Contracts (I)
Ltd., is a company engaged in the business of construction.
Search
& Seizure: A search operation under Section...
Commissioner of Income Tax, Delhi-VI vs Usha Stud Agricultural Farms Ltd. (2008) – Deletion of Addition under Section 68 for Opening Credit Balance | Section 68 & Section 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee, Usha Stud Agricultural Farms Ltd.,
filed its return of income for Assessment Year 1999-2000. During reassessment
proceedings conducted under Sections 143(3) and 147 of the Income-tax Act,...
Commissioner of Income Tax v. S.M. Aggarwal: Evidentiary Value of Dumb Documents and the Right to Cross-Examination under Section 132(4A) of the Income Tax Act
Facts of the Case
A
search and seizure operation under Section 132 of the Income Tax Act,
1961, was conducted on April 21, 1998, at the residence of the Assessee,
Mr. S.M. Aggarwal.
During
th...
Sawhney Rubber Industries v. Commissioner of Income Tax XII (2007) | Writ Petition Under Article 226 of the Constitution of India Challenging High-Pitched Conditional Pre-Deposit Orders for Stay of Demand Under the Income Tax Act, 1961
Facts of the CaseThe Petitioner, Sawhney Rubber Industries, was aggrieved by an
interim administrative or quasi-judicial direction issued by the income tax
authorities regarding a substantial outstanding tax demand. Fo...
Maruti Udyog Limited & Anr. Vs. Deputy Commissioner of Income Tax & Anr. (2007:DHC:8761-DB) | High Court of Delhi Mandates Independent Disposal of Stay Applications under Section 220 / Section 264 of Income Tax Act, 1961 Regardless of Parallel Administrative Orders and Grants Conditional Stay on Multi-Crore Tax Demands
Facts of the Case
The
Petitioners (Maruti Udyog Limited & Anr.) approached the High Court
via Writ Petitions [W.P.(C) 442/2007 and W.P.(C) 2366/2007] challenging
aggressive, coercive recovery acti...
Commissioner of Income Tax versus M s LG Electronics India Private Limited Delhi High Court Judgment on Interest Income and Foreign Exchange Fluctuation ITA 811 2008
Facts of the CaseThe Revenue challenged the Income Tax Appellate Tribunal order
regarding the assessment year 1998 99 for the assessee M s LG Electronics India
Private Limited. The dispute involved two primary issues f...
M/s. Sahkar Enterprises P. Ltd. Vs. Commissioner of Income Tax: Deciding on Understatement of Flat Sale Consideration Bifurcated as Share Transfers and Concurrent Findings of Fact Under Section 260A of the Income Tax Act
Facts of the Case
Company
Ownership Transfer: M/s. Sahkar Enterprises P. Ltd. (the
Assessee) was originally promoted by Shri Om Prakash Jain and his family.
In 1989, control and management were transf...
Ajay Gupta Vs. Commissioner of Income Tax — Date of Accrual and Computation of Statutory Interest on Assets Seized Under Section 132 Read with Section 132B(4) of the Income Tax Act, 1961: Entitlement to Interest From the Expiry of 120 Days of Search Authorisation Till Actual Release of Funds, and Award of Sandvik Asia Compensatory Damages for Delay.
Facts of the Case
The
Search & Seizure: A search operation under Section 132 of
the Income Tax Act, 1961, was conducted on the premises of the Petitioner
(Assessee) on July 2, 2002. Cash amounting...
Commissioner of Income Tax versus Microsoft Corporation of India Private Limited Delhi High Court Judgment on Business Expenditure Deduction ITA 111 2008
Facts of the CaseThe assessee Microsoft Corporation of India Private Limited
claimed a deduction of Rs 1 30 60 957 as business expenditure under Section 37
1 of the Income tax Act 1961. This amount was paid as settleme...
Comprehensive Legal Analysis on Validity of Scrutiny Assessment: Commissioner of Income Tax vs. Eqbal Singh Sindhana – High Court of Delhi (ITA No. 372 of 2007) on the Mandatory Requirement of Serving Notice Under Section 143(2) Within the Prescribed Statutory Limitation Period vs. Mere Dispatch of Undelivered Revenue Notices
Facts of the Case
The
Assessee filed his return of income for the Assessment Year (AY) 2001-02
on October 31, 2001, which was initially processed under Section 143(1) of
the Act on October 31, 2002.
...