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Commissioner of Income Tax vs. Rachna Agarwal – Addition under Sections 69 & 69B Cannot Be Made Merely on Suspicion Without Evidence of Undervaluation | Delhi High Court
Facts of the Case
A search and seizure operation under Section 132 was conducted in
respect of the Gopal Zarda Group, including the assessee.
Proceedings under Section 153A were initiated against the assessee....
Commissioner of Income Tax vs Heartland Delhi Transcription Services Pvt. Ltd. – Deduction Under Section 10B Cannot Be Denied on Transfer of Eligible Undertaking | Delhi High Court
Facts of the
CaseThe respondent assessee, Heartland Delhi
Transcription Services Pvt. Ltd., was incorporated on 2 August 2000 and was
engaged in export of digitized medical transcription services. The assessee
acquir...
Commissioner of Income Tax vs. Sharda Kochhar – Taxability of Enhanced Compensation Received on Compulsory Acquisition under Section 45(5) of the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseThe respondent-assessee was the legal
representative of Late B.K. Kochhar, whose agricultural land situated at
Village Masudpur, Delhi was compulsorily acquired by the Government under the
Land Acquis...
Comverse Networks Systems India Pvt. Ltd. vs Commissioner of Income Tax Delhi-XVI & Anr. | Section 160 & 163 Income Tax Act | Representative Assessee Cannot Be Appointed Where Employee Was Resident During Relevant Assessment Year | Delhi High Court
Facts of the
Case
Mr. Francis Daly was an employee of the petitioner company,
formerly known as CSG Systems India Pvt. Ltd.
For Assessment Year 2003-04, Mr. Francis Daly filed his income tax
return as a...
Commissioner of Income Tax-IV vs Hotz Industries Ltd. | Delhi High Court on Scope of Revision under Section 263, Disallowance under Section 14A, Section 36(1)(vii) Bad Debts & Agricultural Land Exemption under Sections 2(14), 45(1) and 54B of the Income Tax Act, 1961
Facts of the
CaseThe Assessing Officer completed assessment under
Section 143(3) of the Income Tax Act and made a disallowance under Section 14A
amounting to Rs.45,07,413/-. Subsequently, the Commissioner invoked revi...
Commissioner of Income Tax vs. Siel Ltd. | Delhi High Court | Section 45 & Section 48 of Income Tax Act | Alleged Colourable Device in Sale of Shares and Claim of Capital Loss
Facts of the CaseThe assessee, Siel Ltd., and an Austrian company,
Plansee Tizit Aktiengesellschaft, had entered into a joint venture agreement
for incorporation of Siel Tizit Ltd. for manufacturing and dealing in hard...
Great Eastern Energy Corporation Ltd. vs Dy. Commissioner of Income Tax, Circle 12(1) & Anr. | Reassessment Beyond Four Years Invalid in Absence of Failure to Disclose Material Facts under Sections 147 & 148 of the Income Tax Act, 1961
Facts of the CaseThe petitioner company was engaged in the
exploration and development of Coal Bed Methane Gas (CBM Gas) in the Raniganj
Coal Field, West Bengal. The company had entered into a Memorandum of
Understand...
Zaheer Mauritius vs Director of Income Tax (International Taxation)-II | Delhi High Court on Taxability of CCD Transfer Gains under India-Mauritius DTAA
Facts of the Case
Vatika Limited owned land in Gurgaon intended for development as a
cyber park project.
SH Tech Park Developers Private Limited was incorporated as a
wholly owned subsidiary of Vatika fo...
Commissioner of Income Tax vs PP Engineering Work – Reassessment under Sections 147/148 Valid on Basis of Tribunal Findings Relating to Different Assessment Year | Section 150 & Section 153 Explanation 2, Income Tax Act
Facts of the CaseThe assessee, PP Engineering Work, had shown
receipt of Rs. 32 lakhs from Jaconde Overseas Pvt. Ltd. The Assessing Officer
initially made an addition under Section 68 in Assessment Year 2001-02.The Inc...
Commissioner of Income Tax vs. M/s Orient Abrasive Ltd. – Deduction under Section 80-IA on Captive Power Generation Eligible Despite No Sale to Third Parties | Delhi High Court
Facts of the CaseThe respondent-assessee, M/s Orient Abrasive Ltd.,
was engaged in the business of manufacturing fused Aluminium Oxide Grains,
Calcined products, Monolithics, Refractories, Bonded Abrasives, Ceramic Pap...