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Commissioner of Income Tax vs. B.D. Gupta (HUF) & Others – Taxability of HUF Property Share, Effect of Family Settlement and Remand to ITAT Under Section 171 of the Income-tax Act, 1961
Facts of the CaseThe appeals related to the same assessee but arose from
multiple orders passed by the Income Tax Appellate Tribunal concerning
different assessment years. The Tribunal had followed an earlier order rel...
COMMISSIONER OF INCOME TAX TDS VS ELI LILLY AND CO INDIA PRIVATE LIMITED – TDS ON SALARY PAID TO EXPATRIATE EMPLOYEES OUTSIDE INDIA UNDER SECTION 192 OF THE INCOME TAX ACT, 1961
Facts of the CaseThe respondent company, Eli Lilly and Co India Private
Limited, was a joint venture Indian company formed through collaboration
between Eli Lilly Netherlands B.V. and Ranbaxy Laboratories Limited. The
...
Commissioner of Income Tax vs. Legal Heirs of Late Shri B.D. Gupta – Fresh Adjudication of HUF Property Ownership and Family Settlement under Section 171 of the Income-tax Act, 1961
Facts of the CaseThe appeals arose from several orders passed by the Income Tax
Appellate Tribunal concerning different assessment years involving the same
assessee.The Tribunal had adopted the reasoning contained in a...
Commissioner of Income Tax vs. Legal Heirs of Late Shri B.D. Gupta – Remand of HUF Property Assessment Matter in Light of Family Settlement and Section 171 of the Income-tax Act, 1961
Facts of the CaseMultiple appeals arose from orders passed by the Income Tax
Appellate Tribunal concerning different assessment years involving the same
assessee.The Tribunal had primarily relied upon an earlier order
...
Commissioner of Income Tax vs. Legal Heirs of Late Shri B.D. Gupta – Remand of HUF Property Assessment Matter in Light of Family Settlement and Section 171 of the Income-tax Act, 1961
Facts of the CaseMultiple appeals arose from orders passed by the Income Tax
Appellate Tribunal concerning different assessment years involving the same
assessee.The Tribunal had primarily relied upon an earlier order
...
Commissioner of Income Tax vs. Legal Heirs of Late Shri B.D. Gupta (HUF & Individual Capacity) – Taxability of Property Income, Family Settlement and Applicability of Section 171 of the Income-tax Act, 1961
Facts of the CaseThe appeals related to the same assessee and arose from
multiple orders passed by the Income Tax Appellate Tribunal concerning
different assessment years.The Tribunal had relied upon an earlier order d...
Commissioner of Income Tax, Delhi-IV vs. M/s Hi Line Pens Pvt. Ltd. – Deductibility of Expenditure on Renovation of Leased Premises under Section 30(a)(i) of the Income-tax Act, 1961
Facts of the CaseThe assessee had taken certain premises on lease for carrying
on its business activities. Since the premises had remained unused for a
considerable period, the assessee incurred expenditure amounting t...
Commissioner of Income Tax v. Eastman Industries Limited: Deeming Provisions of Section 50(2) on Transfer of Depreciable Assets and Eligibility of 100% Depreciation Based on Actual Use Versus Book Entries Under the Income Tax Act, 1961
Facts of the Case
Assessee
Profile: The assessee, M/s Eastman Industries Ltd.,
is engaged in the business of exporting cycle parts and light engineering
goods. For the Assessment Year (AY) 1998-99, it...
Central Government Employees Consumer Cooperative Society Ltd. vs. The Commissioner of Income Tax: Disallowance of Provision for Post-Balance Sheet Wage Revision Decisions under Section 37(1) vs. Accrual of Liability
Facts of the Case
The
appellant/assessee, Central Government Employees Consumer Cooperative
Society Ltd., provided a sum of ₹72 lakhs under the head "salaries
and wages" pending revision for the fin...
Commissioner of Income Tax, Delhi-IV, New Delhi vs. M/S Denso India Ltd. (2007) – Delhi High Court Rules That Assessing Officer Must Pass Reasoned Orders For Book Profit Adjustments Under Section 115JA Regarding Provisions for Gratuity and Leave Encashment, Overriding Appellate Authorities' Attempts to Supply Non-Existent Grounds
Facts of the Case
The
Assessing Officer (AO) passed an assessment order dated February 26, 2002,
wherein he included a provision for gratuity and a provision for leave
encashment as "deemed profit" un...