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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...
Shri J.N. Sahni vs. Income Tax Appellate Tribunal & Others – Whether ITAT Can Recall a Final Order on Merits under Section 254(2) of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe petitioner, Shri J.N. Sahni, had filed appeals before the
Income Tax Appellate Tribunal (ITAT) relating to assessment years 1973-74 and
1974-75. The appeals were decided in his favour.Subsequently,...
Anil Kumar Bindal & Another vs. Director General of Income Tax & Others – Validity of Search under Section 132 and Block Assessment Proceedings under Section 158BC | Delhi High Court
Facts of the CaseThe petitioners, Shri Anil Kumar Bindal and Mrs. Sanita
Bindal, filed separate writ petitions challenging the legality of an income-tax
search conducted on 21.11.2000 under Section 132 of the Income-ta...
Commissioner of Income Tax vs. Late Shri Gulshan Kumar (Through L.R.) – Applicability of Section 52(2) on Transfer of Shares at Cost Price | Delhi High Court
Facts of the CaseThe assessee, Late Shri Gulshan Kumar, filed his income tax
return for Assessment Year 1987-88 declaring an income of ₹3,60,440, which was
subsequently revised to ₹4,10,400. The assessment was comp...
Commissioner of Income Tax, Delhi-II vs M/s Modi Spinning & Weaving Mills Co. Ltd. (Delhi High Court) – Whether Disallowance under Section 43B Can Be Made While Processing Return under Section 143(1)(a) Without Calling for Evidence
Facts of the CaseThe Revenue filed an appeal under Section 260A of the
Income-tax Act, 1961 against the order of the Income Tax Appellate Tribunal
(ITAT) relating to Assessment Year 1990-91.The assessee, M/s Modi Spinn...
Commissioner of Income Tax vs Dr. Indu Bala Chhabra (Delhi High Court) – Whether Sale of Property Constituted Capital Gains or an Adventure in the Nature of Trade under Sections 45(2), 54F and 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee, Dr. Indu Bala Chhabra, was engaged in the
medical profession. For the Assessment Year 1991-92, she filed her return
declaring professional income.During assessment proceedings, the Assess...
Commissioner of Income Tax, Delhi-XVI vs Shri R.V. Gupta (2002): Sale of Flats on Long-Held Property Held Taxable as Long-Term Capital Gains and Not Business Income under Section 45 of the Income Tax Act, 1961
Facts of the CaseThe assessee, Shri R.V. Gupta, a senior IAS officer, was
allotted a residential plot measuring 664 square metres by the Delhi
Development Authority (DDA) in 1971 under a group housing scheme. The plot ...
Commissioner of Income Tax vs. Shri Shyam Sales (2004) | Delhi High Court Judgment on Perverse Tribunal Orders, Lack of Speaking Orders, and Remand for Fresh Adjudication under the Income-tax Act, 1961
Facts of the CaseThe Revenue (Income Tax Department) preferred a batch of
income tax appeals (ITA Nos. 379/2003, 382/2003, 422/2003, 378/2003, 413/2003,
491/2003, 388/2003, and 390/2003) before the Hon'ble Delhi High C...