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Radials International vs Assistant Commissioner of Income Tax (Delhi High Court) – PMS Transactions: Capital Gains vs Business Income under Income Tax Act
Facts of the Case
Radials
International was a partnership firm engaged in providing technical,
marketing and maintenance services relating to earth mover, aircraft and
truck tyres and also traded in t...
Samsung India Electronics Pvt. Ltd. vs Deputy Director of Income Tax & Others | Reassessment under Sections 148, 195, 20
Facts of the Case
Samsung India Electronics Pvt. Ltd. was a
wholly owned subsidiary of Samsung Electronics Ltd., South Korea.
The company imported raw materials and spare
parts from its parent comp...
Pawan Kumar Aggarwal vs Commissioner of Income Tax – Rectification under Section 154 for Wrong Disclosure of STT Claim under Section 88E in Return of Income
Facts of the CaseThe assessee filed a return for Assessment Year 2008–09
declaring total income of approximately ₹34.56 lakhs. Tax payable along with
surcharge and education cess amounted to ₹1,16,950.The assesse...
Pawan Kumar Aggarwal vs Commissioner of Income Tax (Delhi High Court) – Rectification of STT Rebate Error under Sections 154, 143(1) & 88E of the Income Tax Act, 1961
Facts of the CaseThe assessee, Pawan Kumar Aggarwal, filed his income tax
return for Assessment Year 2008–09 and declared total income of approximately
₹34.56 lakhs. While filing the return, the assessee had paid S...
Cheil India Private Limited (Formerly Cheil Communications India Pvt. Ltd.) vs Deputy Commissioner of Income Tax – Taxability of Advance Receipts and Revenue Recognition under Accounting Standard-9 | Delhi High Court
Facts of the CaseDuring Assessment Year 2008–09, the assessee, Cheil India
Private Limited, received a sum of ₹1,66,99,360 from Samsung India Electronics
Pvt. Ltd. and Samsung Telecommunication India Pvt. Ltd...
Commissioner of Income Tax (Central)-II vs. Smt. Kusum Gupta – Separate Investment and Trading Portfolios: Long-Term Capital Gain Cannot Be Treated as Business Income | Delhi High Court
Facts of the CaseThe assessee filed her income tax return for Assessment Year
2007–08 declaring income of ₹6,16,070 and claimed an amount of ₹70,77,375 as
Long-Term Capital Gain exempt under Section 10(38) of the...
Naresh Kumar Verma vs Commissioner of Income Tax, Delhi-XII & Deputy Commissioner of Income Tax – Eligibility of Section 10B Deduction on Deemed Export Transactions and Penalty Proceedings | Delhi High Court (2014)
Facts of the Case
The
assessee, Naresh Kumar Verma, claimed benefit under Section 10B of the
Income Tax Act, 1961.
The
claim was made on the basis that certain transactions qualified as
"deem...
Naresh Kumar Verma vs Commissioner of Income Tax, Delhi-XII & Deputy Commissioner of Income Tax – Eligibility of Section 10B Deduction on Deemed Export Transactions and Penalty Proceedings | Delhi High Court (2014)
Facts of the Case
The
assessee, Naresh Kumar Verma, claimed benefit under Section 10B of the
Income Tax Act, 1961.
The
claim was made on the basis that certain transactions qualified as
"deem...
Naresh Kumar Verma vs Commissioner of Income Tax, Delhi-XII & Deputy Commissioner of Income Tax, 0043ircle 35(1) – Eligibility of Section 10B Deduction, Deemed Export Claim and Penalty Proceedings under the Income Tax Act, 1961
Facts of the CaseThe assessee, Naresh Kumar Verma, claimed deduction under
Section 10B of the Income Tax Act on the basis of transactions asserted to
qualify as exports/deemed exports under the applicable EXIM Policy. ...
M/s Jyoti Pershad Jagan Nath vs Commissioner of Income Tax, Delhi-X – Amnesty Scheme Benefit under Sections 271(1)(c), 273(2) & 263 of Income Tax Act | Delhi High Court
Facts of the CaseThe assessee filed returns for Assessment Year 1983-84 on
26.12.1983 and the assessment was completed thereafter. Following completion of
assessment, the Income Tax authorities introduced the Amnesty S...