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Commissioner of Income Tax-XVII v. M/s Dewan Chand | Delhi High Court on TDS Default under Sections 201(1), 201(1A) and Applicability of Section 194C
Fact of case The Revenue filed appeals against the common order
passed by the Income Tax Appellate Tribunal relating to financial years 2001-02
to 2004-05. The dispute arose regarding the assessee's alleged failur...
CIT-XVII, New Delhi vs. M/s Dewan Chand – No Assessee in Default Under Section 201(1) Where Payees Have Already Paid Tax | Delhi High Court
Facts of the
CaseThe Assessing Officer observed
that certain payments had been made by the assessee without deduction of tax at
source. Although it was accepted that if the recipients had already paid tax on
the inco...
Commissioner of Income Tax vs. Assessee: Dismissal of Penalty Proceedings Upon Dismissal of Quantum Appeals under Section 271(1)(c)
Facts of the CaseThe case before the Hon’ble Delhi High Court in ITA
316/2008 and ITA 317/2008 emerged out of a long-standing dispute concerning
penalty proceedings initiated by the Revenue Department against the
re...
Commissioner of Income Tax (Central - I) vs. M/s P.P. Jewellersunder Section 260A of the Income Tax Act, 1961
Facts
of the Case·
Parties involved: The revenue preferred an appeal under Section 260A
of the Income Tax Act, 1961 against the assessee, M/s P.P. Jewellers.· &nb...
THE COMMISSIONER OF INCOME TAX-V v. NATRAJ STATIONERY PRODUCTS (P) LTD: DELHI HIGH COURT UPHOLDS CONTINUITY OF TAX HOLIDAY BENEFITS UNDER SECTION 80-IB(3)(i) FOR SMALL-SCALE INDUSTRIAL UNITS SET UP IN THE INITIAL ASSESSMENT YEAR OF 1994-95
Facts
of the Case·
Assessee Setup: The respondent/assessee set up an industrial
undertaking for manufacturing photo albums and commenced production on March
24, 1994. ...
Commissioner of Income Tax vs. M/s DCM Sriram Consolidated Ltd: Computation of Book Profits Under Section 115JA for Captive Power Generation
Facts
of the CaseThe case entered the High Court via an
appeal under Section 260A of the Income Tax Act, 1961 filed by the Revenue
(Commissioner of Income Tax). The appeal targeted an order passed by the Income
Tax A...
Commissioner of Income Tax, Delhi-II vs Monnet Industries Ltd. | Interest on Borrowed Capital for Expansion of Existing Business Allowable as Revenue Expenditure under Section 36(1)(iii) of the Income-tax Act
Facts of the Case
Monnet Industries Ltd. was engaged in the manufacture and trading
of ferro alloys through its plant located in Raipur.
During the financial years 1994-95 and 1995-96, the company
establi...
Commissioner of Income Tax-V vs Natraj Stationery Products (P) Ltd. | Deduction under Section 80-IB Cannot Be Denied Merely Due to Subsequent Statutory Bifurcation of Section 80-IA – Delhi High Court
Facts of the Case
The assessee established an industrial undertaking for
manufacturing photo albums during the previous year relevant to Assessment
Year 1994-95.
Production commenced on 24.03.1994.
The ...
Commissioner of Income Tax vs Delhi Brass & Metal Works Ltd. – Interest on Fixed Deposits Not Eligible for Section 80HHC Deduction | Delhi High Court
Facts of the Case
The respondent-assessee was engaged in the business of exporting
readymade garments and was a 100% exporter.
The assessee maintained fixed deposits with a bank out of surplus
funds.
Du...
Commissioner of Income Tax, Delhi-IV, New Delhi vs. DCM Shriram Consolidated Ltd. | Delhi High Court | Section 115JA MAT – Profits from Captive Power Plants Eligible for Deduction
Facts of the Case
The assessee, DCM Shriram Consolidated Ltd., operated multiple
manufacturing divisions, including fertilizer, cement, chemicals and
textile units.
The assessee had established four Capti...