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Commissioner of Income-tax Vs. Shri Ramesh Suri: High Court Directs ITAT to Refer Questions on Taxability and Onus of Proof Regarding Foreign Gifts Under the Income-tax Act, 1961
Facts of the CaseThe case involves an Income Tax Case (ITC 44/99) before the
Delhi High Court. The Revenue (Commissioner of Income-tax) filed a petition
challenging an order passed by the Income-tax Appellate Tribunal ...
Commissioner of Income-tax, Delhi-VIII vs. M/s. Mecon Builders & Engineers | Deletion of Section 271(1)(c) Penalty on Agreed Additions & Timing Differences in Civil Construction Revenue Recognition: Delhi High Court Verdict
Facts of the Case
The
Assessee is a partnership firm engaged in the execution of civil
construction works.
During
the assessment proceedings for Assessment Year 1988-89, the Assessee
declared...
Commissioner of Income-tax, Delhi-III v. Shri Pratap Chand (HUF) – Applicability of Section 52(2) of the Income-tax Act, 1961 to Capital Gains Assessment
Facts of the CaseThe case originates from the assessment year 1972-73,
involving cross-references (ITRS Nos. 48-49/80) filed before the High Court of
Delhi. The primary dispute centers around the assessment of capital ...
Shri John Thomas Versus Commissioner of Income-tax: Taxability of Rental Income Adjusted Against Mortgage Loans under Section 22 and Section 256 of the Income-tax Act, 1961 – Comprehensive Analysis of Application vs. Diversion of Income by Overriding Title in Usufructuary Mortgages
Facts of the Case
Property
Ownership: The assessee, Shri John Thomas, owned a
multi-story commercial house property named 'Rageena Mansion' located in
Madras (now Chennai), which was constructed in 19...
Additional Commissioner of Income-Tax vs. M/S Motorlite Manufacturing Co. — Scope of Penalty under Section 271(1)(c) of the Income-Tax Act, 1961: Whether Estimation of Income by Department Overriding Unclosed Books Incurs Penalty for Concealment in Absence of Fraud or Gross Neglect
Facts of the Case
Firm
Structure and Seizure: The assessee, M/S Motorlite Mfg Co.,
was originally a partnership firm comprising two partners, Mohinder Singh
and Richpal Singh, sharing profits and loss...
Commissioner of Income-tax, Delhi-I vs. M/s. Regal Theatre | Allowability of Business vs. Entertainment Expenditure under Section 37(2B) of the Income-tax Act, 1961: A Definitive Ruling on Hospitality and Club Expenses
Facts of the CaseThe assessee, M/s. Regal Theatre, incurred a total expenditure
of ₹42,040 on various items during the assessment year 1974-75 (with the
relevant previous year ending on October 31, 1973). The Income-...
Commissioner of Income-tax, Delhi-I vs. M/s. Eskay Electronics (India) Ltd. – High Court of Delhi Case Law Analysis on Eligibility of Interest Under Section 214 of the Income-tax Act, 1961 for Delayed Payment of Advance Tax Instalments Deposited Within the Financial Year
Facts of the Case
Assessee
Profile & Assessment Year: The Respondent-Assessee,
M/s. Eskay Electronics (India) Ltd., is a private limited company. The
case concerns the Assessment Year (AY) 1975-76...
Income Tax Law Case Summary: The Commissioner of Income-tax vs. Shri Jatinder, Shri D.R. Bhagat, Late Shri P.S. Bhagat, and Smt. Maya Devi — Scope of Section 263 on Revisionary Powers and the Date of Accrual of Directors' Commission vs. Subsequent Post-Accrual Resolutions
Facts of the Case
Assessee
Profiles: The assessees involved in these
consolidated references were Directors of a private limited entity named
M/s Bhagat Construction Company (P) Ltd.
Company
...
Commissioner of Income-tax vs. Shri Jatinder, Shri D.R. Bhagat, Late Shri P.S. Bhagat (through L.Rs), and Smt. Maya Devi — Legal Validity of Post-Accrual Board Resolutions for Reduction of Directors’ Commission and the Scope of Revisionary Powers Under Section 263 of the Income-tax Act, 1961
Facts of the Case
The
contesting assessees served as Directors and a Managing Director for M/s
Bhagat Construction Company (P) Ltd., incorporated on October 19, 1965.
The company operated on a Diwali-...
Comprehensive Judicial Review on the Power of Domestic Tax Assessment versus Double Taxation Avoidance Mechanisms: The Commissioner of Income-tax, Delhi-I, New Delhi vs. The State Bank of India, New Delhi (As Legal Successor to the National Bank of Lahore, Ltd.)
Facts of the CaseThe respondent-assessee, State Bank of India, acted as the
legal successor to the National Bank of Lahore, Ltd. During the statutory
evaluation for the Assessment Year 1966-67, the Income-tax Officer l...