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M/s Lachman Dass Bhatia Hingwala (P) Ltd. vs. Assistant Commissioner of Income Tax: Landmark Ruling on the Statutory Power of the ITAT to Recall its Own Final Order in Entirety to Rectify Manifest Errors Under Section 254(2) of the Income Tax Act, 1961
Facts of the CaseThe petitioner filed a batch of writ petitions under
Articles 226 and 227 of the Constitution of India before the High Court of
Delhi. The challenge was directed against an order dated January 22, 2010...
Sunil Sharma vs Income Tax Officer – Belated Notice under Section 143(2) & 142(1) of the Income Tax Act, 1961
Facts of the Case
The
Tribunal had set aside an assessment on the ground that the notice under
Section 143(2) of the Income Tax Act was served belatedly, beyond the
prescribed one-year limitation.
U...
Commissioner of Income Tax, Delhi-I, New Delhi Versus Bharti Televenture Ltd.: A Landmark Judgment of the Delhi High Court on the Allowability of Business Interest Deductions Under Section 36(1)(iii) of the Income Tax Act, 1961, Overruling Tax Disallowances on Interest-Free Financial Advances Extended to Wholly-Owned Subsidiary Companies Out of Mixed Common Bank Accounts via the Doctrine of Commercial Expediency
Facts of the Case
The
Revenue filed three appeals under Section 260A of the Income Tax Act
against a common order dated 24th July, 2009 passed by the Income Tax
Appellate Tribunal (ITAT) for Assessmen...
Commissioner of Income Tax vs Assessee – Delhi High Court Dismisses Revenue Appeals on Low Tax Effect Below ₹10 Lakhs | ITA Nos. 285/2010 & 331/2010 (2011)
Facts of the
CaseThe Revenue filed two Income Tax Appeals before the
Delhi High Court. During consideration of the appeals, it was noted that the
combined tax effect involved in both matters was less than ₹10 lakh. ...
CIT vs. A.K. Steel Pvt. Ltd.: Delhi High Court ITA No. 902/2009 Analysis – Section 143(3), Income Tax Act Matters
Facts of the Case:
The petitioner, CIT, challenged the order of the Income Tax Appellate
Tribunal (ITAT) concerning the assessment year 2005-06 for A.K. Steel Pvt.
Ltd. The dispute revolves around the alleged concealm...
Commissioner of Income Tax vs. Bharti Televenture Ltd. – Delhi High Court Judgement on Deletion of Interest Disallowance Under Section 36(1)(iii) and Applicability of Commercial Expediency for Interest-Free Advances to Wholly-Owned Subsidiaries out of Mixed Common Funds
Facts of the Case
The
Revenue filed three appeals against a common order dated 24th July, 2009,
passed by the Income Tax Appellate Tribunal (ITAT). The appeals cover
Assessment Year (AY) 2001-02 (ITA ...
[Appellant Name] vs Commissioner of Income Tax (Delhi High Court) | ITA Nos. 285/2010 & 331/2010 | Appeals Dismissed Due to Low Tax Effect Below ₹10 Lakhs
Facts of the CaseThe Revenue/Appellant preferred Income Tax Appeals
before the Delhi High Court under the provisions of the Income-tax Act, 1961.At the time of consideration, the Court noted that
the combined tax effec...
Akshya Kumar vs. Income Tax Department – Delhi High Court ITA 875/2008, Penalty Dispute under Income Tax Act
Facts of the CaseThe petitioner, Akshya Kumar, challenged the imposition of a
penalty by the Income Tax Department under the provisions of the Income Tax
Act. The dispute arose in the context of ITA 875/2008, where the...
Commissioner of Income Tax vs. Bharti Televenture Ltd. – Delhi High Court Judgement on Deletion of Interest Disallowance Under Section 36(1)(iii) and Applicability of Commercial Expediency for Interest-Free Advances to Wholly-Owned Subsidiaries out of Mixed Common Funds
Facts of the Case
The
Revenue filed three appeals against a common order dated 24th July, 2009,
passed by the Income Tax Appellate Tribunal (ITAT). The appeals cover
Assessment Year (AY) 2001-02 (ITA ...
CIT vs Khandelwal Construction Co. – Delhi High Court 2011 | ITA No. 136/2009 | Section 37 of Income Tax Act
Facts of the Case:The appellant, CIT (Commissioner of Income Tax),
challenged the order of the Income Tax Appellate Tribunal (ITAT) that allowed
certain deductions claimed by the respondent, Khandelwal Construction Co....