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Commissioner of Income Tax, Delhi-IV, New Delhi vs. Indian Visit.Com Pvt. Ltd. – Website Development Expenditure as Revenue Expenditure and Not Capital Expenditure Under the Income-tax Act, 1961
Facts of the CaseThe assessee, Indian Visit.Com Pvt. Ltd., was engaged in the
travel business and provided services such as:
Hotel
bookings,
Taxi
arrangements,
Air
ticket bookings,
Railway
...
Commissioner of Income Tax-XVI vs. Shri S. Dhanbal – Taxability of Non-Compete Fees Received on Sale of Shares and Applicability of Section 28(va) of the Income-tax Act, 1961
Facts of the CaseThe assessee, Shri S. Dhanbal, was an individual software
engineer, shareholder, and working director in IIS Infotech Limited.On 04.12.1997, IIS Infotech Limited was taken over by the FI
Group (U.K.) t...
Commissioner of Income Tax, Delhi-X vs. Shri Anand Swarup Khandelwal – Applicability of Section 40A(3) to Alleged Cash Purchases in Block Assessment Proceedings under Chapter XIV-B of the Income-tax Act, 1961
Facts of the CaseA search and seizure operation was conducted at the premises
of Shri Anand Swarup Khandelwal on 15.10.1998. Consequent thereto, a notice
under Section 158BC was issued for the block period from 01.04.1...
The Commissioner of Income Tax vs. Relaxo Footwears Ltd.: Whether Pre-Operative Expenses Incurred on a New Manufacturing Unit Configured as an Extension of Existing Business with Unity of Control and Interlacing of Funds are Allowable as Revenue Expenditure under Section 37(1) of the Income Tax Act, 1961
Facts of the Case
Assessee
Background: M/s. Relaxo Footwears Ltd. (Respondent) was
historically engaged in the trading of all kinds of rubber footwears.
Business
Expansion: During the assessment ye...
Sandeep Kumar (HUF) Vs. The Commissioner of Income Tax, New Delhi: Onus on Assessee under Section 68 to Prove Financial Capacity of NRI Donors and Genuineness of Gifts Beyond Bank Channels
Facts of the Case
A
search and seizure operation under Section 132 of the Income Tax Act, 1961
was conducted at the residential premises of Shri Sandeep Kumar, the Karta
of the Assessee Hindu Undivide...
Shyam Gopal Charitable Trust vs Director of Income Tax Exemption – Penalty for Belated Filing of Return by Charitable Trust under Sections 139(4A), 272A(2)(e) and 273B of the Income Tax Act, 1961
Facts of the CaseThe appellant, Shyam Gopal Charitable Trust, was established
through a Trust Deed dated 03.10.1983 with the objective of running a school
for providing education to poor children residing in slum areas...
Commissioner of Income Tax vs. Goyal M.G. Gases Pvt. Ltd. | Validity of Consequential Assessment Order Beyond Prescribed/Reasonable Time Limit under Section 263 of Income Tax Act, 1961
Facts of the Case
An
assessment order was originally framed against the respondent-assessee, Goyal
M.G. Gases Pvt. Ltd., under Section 143(3) of the Income Tax Act, 1961
for the Assessment Year (AY) 1...
Commissioner of Income Tax vs. B.D. Gupta (HUF) & Legal Heirs – Reassessment of HUF Property Ownership After Family Settlement under Section 171 of the Income-tax Act, 1961
Facts of the CaseThe appeals related to the same assessee and arose from three
different orders passed by the Income Tax Appellate Tribunal covering multiple
assessment years. The Tribunal had treated its order for Ass...
Commissioner of Income Tax vs. B.D. Gupta (HUF) & Legal Heirs – Effect of Family Settlement on HUF Property Assessment and Applicability of Section 171 of the Income-tax Act, 1961
Facts of the CaseThe appeals related to the same assessee and arose from three
different orders passed by the Income Tax Appellate Tribunal covering various
assessment years. The Tribunal had treated its order for Asse...
Commissioner of Income Tax TDS vs Eli Lilly and Co India Pvt Ltd – TDS on Expatriate Salaries Received in India and Abroad under Section 192 of the Income Tax Act
Facts of the CaseThe respondent company, Eli Lilly and Co India Pvt Ltd, was a
joint venture Indian company formed through the collaboration of Eli Lilly
Netherlands B.V. and Ranbaxy Laboratories Limited. The company e...