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Commissioner of Income Tax v. M/s D.D. Gears Ltd. (Delhi High Court) – Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income-tax Act, 1961
Facts of the Case
The
Revenue preferred an appeal against the order of the Income Tax Appellate
Tribunal.
The
Tribunal had confined its examination to the issue of recording of
satisfaction by...
Commissioner of Income Tax vs. Tyagi Group (2008:DHC:12420-DB): Principle of Consistency in Fair Market Value (FMV) of Unquoted Equity Shares under Section 2(22B)(ii) of Income Tax Act—Delhi High Court Affirms DVO Valuation of Co-Owners (Anand Group) Prevents Re-assessment Without Demonstrating Error
Facts of the Case
The
six conjoined appeals arose out of a common order passed by the Income Tax
Appellate Tribunal (ITAT) dated September 17, 2001.
All
the respective assessees belonged to a collec...
Commissioner of Income Tax vs. Goodyear India Limited – Delhi High Court on Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income Tax Act
Facts of the CaseThe Commissioner of Income Tax filed appeals against various
orders of the Income Tax Appellate Tribunal, including the case relating to
Goodyear India Limited.The Tribunal had restricted its examinati...
Commissioner of Income Tax, Delhi-X v. M/S Prima India Products: Validity of Section 263 Revisionary Orders Post-Settlement Commission Disclosures on Undisclosed Income and Investment Nexus
Facts of the Case
Assessment
& Search Details: The assessment of the
respondent-assessee ($\text{M/S Prima India Products}$) for the Assessment
Year (AY) 1982-83 was initially completed under Sect...
Commissioner of Income Tax v. M/s Shree Joints International Pvt. Ltd. (2008) – Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income Tax Act and Impact of Section 271(1B)
Facts of the Case
The
Revenue challenged the order of the Income Tax Appellate Tribunal.
The
Tribunal had considered only the issue relating to recording of
satisfaction by the Assessing Officer for...
The Motor & General Finance Ltd. vs. Commissioner of Income Tax-VI, New Delhi (with Connected Appeals) under section 244A of the Income Tax Act, 1961 (Interest on Refunds).
Facts
of the Case·
The primary appellant, Motor &
General Finance Ltd., along with other connected assessees, filed their
respective income tax returns for various...
Commissioner of Income Tax vs. Web Commerce (India) Pvt. Ltd. – Whether Filing Audit Report Under Section 10B(5) Before Assessment Framing Complies with Law as Directory Provision vs Mandatory Requirement: Delhi High Court Verdict Following CIT vs. Contimeters Electricals
FACTS OF THE CASE
The
Revenue filed an appeal (ITA 552/2008) before the High Court of Delhi
against the Income Tax Appellate Tribunal's order.
The
dispute concerned the deduction/exemption claimed ...
Commissioner of Income Tax, Delhi (Central)-III v/s J.P.M. Farms (Pvt.) Ltd. — Whether Surcharge is Leviable Under Section 113 of Income Tax Act 1961 on Block Assessment of Undisclosed Income Found in Search Conducted Prior to 01-06-2002 in Light of Supreme Court Ruling in CIT v/s Suresh Gupta
FACTS OF THE CASE
A
search and seizure operation under Section 132 of the Income Tax Act, 1961
was conducted by the Revenue authorities on the premises of the
Respondent-Assessee, M/s J.P.M. Farms (Pv...
Commissioner of Income Tax vs. M/s Goenka Estates (Delhi) Pvt. Ltd. – Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) and Effect of Section 271(1B) | Delhi High Court
Facts of the Case
Multiple
appeals were filed by the Revenue against orders of the Income Tax
Appellate Tribunal.
The
Tribunal had decided the matters primarily on the issue of whether the
Ass...
Commissioner of Income Tax, Delhi-V vs. M/s RBG Investment & Finance Ltd | Whether Service Charges Paid to Mutual Funds under Buy-Back Financing Arrangement for Rights Issue of Fully Convertible Debentures (FCDs) are Deductible as Business Expenses under Section 37(1) of the Income Tax Act, 1961 Despite Subsequent Market Crash Due to Harshad Mehta Scam
Facts of the Case
The
Assessee's Holding: The assessee, M/s RBG Investment &
Finance Ltd (a trader in shares), held equity shares in its sister
concern, Steel Tubes India Ltd.
The
Rights I...