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Speciality Food India Pvt. Ltd. v. Commissioner of Income Tax, ITA No. 51/2014, Delhi High Court (2014:DHC:1302-DB): Whether Penalty under Section 271(1)(c) can be Levied for a Bona Fide and Debatable Depreciation Claim
Facts of the Case
The
assessee, Speciality Food India Pvt. Ltd., was engaged in the composite
business of manufacturing and trading food products intended for human and
animal consumption.
Manufact...
CIT vs. Sam Global Securities Ltd. | Plenary Appellate Powers vs. Procedural Restrictions under Section 139(5)
Facts of the CaseThe respondent-assessee filed its original return of income
for the Assessment Year (AY) 2001-02 on October 31, 2001, declaring a taxable
income of ₹1,72,910. Subsequently, a notice for scrutiny asse...
Commissioner of Income Tax vs. M/S Handicrafts and Handlooms Export Corpn. of India Ltd.
Facts of the Case
The
Parties: The Appellant is the Commissioner of Income
Tax (Revenue) , and the Respondent-Assessee is M/s Handicrafts and
Handlooms Export Corporation of India Ltd., a Govern...
M/s Comfort Living Hotels Pvt. Ltd. vs Commissioner of Income Tax–III | Delhi High Court | Revenue Expenditure vs Capital Expenditure on Hotel Renovation and Allowability of 100% Depreciation on Temporary Construction
Facts of the CaseThe assessee company was engaged in the hospitality business
and operated a hotel. During Assessment Year 1989–90, it claimed an amount of
₹10,30,253 towards building repairs and related expenses. ...
India Trade Promotion Organisation vs. Commissioner of Income Tax: Right to Interest under Section 244A on Unpaid Interest Element Formed upon Tax Refund
Facts of the Case
Parties
and Period: The case involves the appellant, India Trade Promotion
Organisation (ITPO), and the respondent, Commissioner of Income Tax,
before the High Court of Delhi, relati...
Commissioner of Income Tax vs. Naresh Kumar (and M/s Talbros (P) Ltd.) | Retrospective Effect of Section 40(a)(ia) Amendment by Finance Act, 2010 on TDS Deposits
Facts of the Case
The
Revenue filed two appeals under Section 260A of the Income Tax Act against
the orders of the Income Tax Appellate Tribunal (ITAT) concerning the
Assessees, Naresh Kumar and M/s T...
Manoj Kumar Samdaria vs Commissioner of Income Tax-I – Delhi High Court | Whether Profit from Frequent Share Transactions is Taxable as Business Income or Short-Term Capital Gain under Section 111A of the Income Tax Act
Facts of the CaseThe assessee, Manoj Kumar Samdaria, was engaged in the
business of exporting jewellery and handicraft goods. During Assessment Year
2007–08, he disclosed an amount of ₹65,45,321 arising from the sa...
Commissioner of Income Tax, Delhi-XVI vs. S.S. Ahluwalia – Jurisdiction of Assessing Officer, Transfer of Case under Sections 124, 127, 139(9), 142(1) & 148 of the Income Tax Act | Delhi High Court
Facts of the CaseThe respondent assessee, an IAS Officer of the Nagaland cadre,
had originally filed income tax returns at Dimapur, Nagaland during his posting
there. During deputation to Delhi between 1978 and 1984, r...
Sh. Gulshan Malik vs Commissioner of Income Tax – Delhi High Court on Taxability of Booking Rights, Period of Holding and Short-Term vs Long-Term Capital Gains under Sections 2(14), 2(42A), 45 & 54 of the Income Tax Act, 1961
Facts of the CaseThe assessee and his wife applied for booking of an apartment
and paid a booking amount of ₹2,00,000 in July-August 2004. Subsequently, a
provisional allotment/confirmation letter was issued by the b...
Commissioner of Income Tax-XVI vs Shri Atul Kumar Swami – Delhi High Court on Reopening of Assessment under Sections 147/148 Without Fresh Tangible Material
Facts of the CaseThe assessee had disclosed details regarding amounts received
under a non-compete agreement within the return of income and accompanying
documents. Subsequently, the Revenue initiated reassessment proc...