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Commissioner of Income Tax vs Shri Awanindra Singh (2008) 2241-DB (Delhi High Court) – Addition on Alleged Unexplained Foreign Bank Deposit Deleted Due to Verified Source of Funds
Facts of the
CaseThe assessee, Shri Awanindra Singh, was alleged to
have made investments through Certificates of Deposit (CDs) with Wells Fargo
Bank, USA. During assessment proceedings for Assessment Year 1996-97, th...
Director of Income Tax vs. Angreji Hatao Nidhi (2007) 841-DB Delhi High Court | Corpus Donation vs Voluntary Contribution under Sections 11 & 12 of the Income Tax Act, 1961
Facts of the
CaseThe respondent, Angreji Hatao Nidhi, was a
charitable society engaged in the promotion of the Hindi language. The society
received a donation of ₹10 lakh from the Government of Uttar Pradesh along w...
Commissioner of Income Tax (TDS) v. General Engineering Works | Penalty under Section 272A(2)(g) Cannot Be Levied Where Assessee Proves Reasonable Cause under Section 273B – Delhi High Court
Facts of the CaseThe assessee, General Engineering Works, had filed
its TDS returns. During scrutiny, the Income Tax Officer observed that the
assessee had failed to issue TDS certificates within the prescribed statuto...
Commissioner of Income Tax (TDS) v. General Engineering Works | Penalty under Section 272A(2)(g) for Delay in Issuing TDS Certificates – Reasonable Cause under Section 273B – Delhi High Court
Facts of the
CaseThe assessee had filed its TDS returns; however,
during scrutiny, the Income Tax Department noticed that the TDS certificates
had not been issued within the prescribed statutory period.Consequently, t...
Commissioner of Income Tax (TDS) vs. Global Infosystems Limited (Delhi High Court) – Penalty under Section 221 for Delayed Deposit of TDS Cannot Be Imposed Mechanically; Quantum of Penalty Must Be Exercised Judicially
Facts of the
Case
The assessee, Global Infosystems Limited, had delayed the deposit
of TDS deducted during the relevant financial years 2001-02 and 2002-03.
Proceedings were initiated by the Income Tax Departm...
Commissioner of Income Tax vs. Hitech Flexotext Pvt. Ltd. – Appeal Maintainability under Section 260A and Validity of Notice under Section 143(2) of the Income-tax Act
Facts of the
Case
The assessee filed its return of income on 13 November 1990.
The Assessing Officer issued a notice under Section 143(2) on 18
February 1991.
The notice was received by the assessee on 19 Fe...
M/s Indag Rubber Limited vs Commissioner of Income Tax, New Delhi | Deductibility of Arbitration Award Liability under Section 37(1) of the Income Tax Act, 1961 | Delhi High Court
Facts of the Case
M/s Indag Rubber Limited entered into an agreement dated 24 July
1991 with the Rajasthan State Road Transport Corporation (RSRTC) for the
supply of a cold process retreading plant and retr...
Commissioner of Income Tax XVI vs. Marubeni India Pvt. Ltd. (Delhi High Court) – TDS on Salary, Expatriate Employees, Performance Incentive and Interest under Section 201(1A) of the Income-tax Act
Facts of the
CaseMarubeni India Pvt. Ltd., a company employing
expatriate personnel in India, deducted tax at source on salaries paid to its
employees and deposited the same in accordance with law. Certain expatriate
...
Books of Account Go Digital: New Income-tax Act Recognises Cloud Storage but Imposes Data Localisation Requirements
Books of Account Go Digital:
New Income-tax Act Recognises Cloud Storage but Imposes Data Localisation
Requirements A Significant Expansion in the
Definition of Books of Account The Income-tax Act, 2025 has
...
Commissioner of Income Tax v. Tyagi Group (2008): Valuation of Unquoted Equity Shares under Section 2(22B)(ii) of the Income Tax Act, 1981 – Applicability of the Principle of Consistency and DVO Fair Market Value Determinations in Co-Owner Assessments
Facts of the Case
The
case involves six conjoined appeals arising from a common order passed by
the Income Tax Appellate Tribunal (ITAT) on September 17, 2001, concerning
assessees belonging to the Ty...