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Shri Shyam Sales Cases: Delhi High Court Remands Matters Back to ITAT for Fresh Speaking Order
Facts
of the CaseThe Revenue preferred a group of Income
Tax Appeals (ITA Nos. 449/2003, 451/2003, 452/2003, 453/2003, 514/2003,
515/2003, 450/2003, and 454/2003) before the Hon’ble High Court of Delhi
against the ...
Commissioner of Income Tax vs Machino Plastics Pvt. Ltd. (2003) – Depreciation on Enhanced Cost of Plant & Machinery Due to Foreign Exchange Fluctuation under Sections 43A and 260A of the Income-tax Act, 1961 | Delhi High Court Dismisses Revenue Appeal for Absence of Substantial Question of Law
Facts of the CaseThe Revenue filed an appeal before the Delhi High Court
under Section 260A of the Income-tax Act, 1961, challenging the order dated 13
February 2003 passed by the Income Tax Appellate Tribunal (ITAT), ...
Commissioner of Income Tax, Delhi vs R.S. Sibal [ITA No. 264/2003] – Delhi High Court on Section 68 Additions Based on NRI Gifts | Whether Relationship with Donor is Mandatory to Prove Genuine Gift | Identity, Capacity and Genuineness of Gift Transactions Explained
Facts of the CaseDuring assessment proceedings for Assessment Year 1994-95,
the Assessing Officer noticed two deposits of Rs. 7,00,000 and Rs. 2,25,000
in the assessee's bank account. The assessee explained that these ...
Commissioner of Income Tax (Revenue) Vs. Shri Shyam Sales: High Court Sets Aside Perverse ITAT Order for Failing to Consider Material Facts under Income Tax Appeal (ITA)
Facts
of the Case·
The Revenue preferred a group of Income
Tax Appeals, specifically ITA Nos. 379/2003, 382/2003, 422/2003, 378/2003,
413/2003, 491/2003, 388/2003, and...
Commissioner of Income Tax, Delhi vs M/s S.R. Fragrances Ltd. (Delhi High Court) – Section 260A Income-tax Act | Deletion of Addition on Alleged Suppression of Production Due to Shortage/Wastage of Raw Material | No Substantial Question of Law Arises from ITAT’s Findings of Fact
Facts of the CaseThe assessee, M/s S.R. Fragrances Ltd., was engaged in the
business of manufacturing pan masala. During assessment proceedings for
Assessment Year 1994-95, the Assessing Officer observed that the tax a...
Commissioner of Income Tax vs. M/S Itochu Corporation: Deletion of Section 271C Penalty under Income-tax Act on Salaries Paid to Expatriates Outside India
Facts
of the CaseThe respondent, M/S Itochu Corporation,
is a company incorporated in Japan that operates a liaison office in Delhi,
India, for its business activities. The company deputed Japanese employees to
work ...
Vallabh Dass vs Income Tax Settlement Commission & Others – Whether Income Tax Settlement Commission Can Rectify a Final Settlement Order Under Sections 154, 245D(4) and 245-I of the Income-tax Act, 1961
Facts of the CaseThe petitioners had approached the Income Tax
Settlement Commission in 1994 by filing applications under Section 245C of the
Income-tax Act, 1961. After considering the materials on record and he...
Rakesh Kumar Aggarwal vs Commissioner of Income Tax (Delhi) – Rejection of Security Offered for Stay of Tax Recovery Proceedings, Scope of Commissioner’s Discretion and Limited Judicial Review by Delhi High Court (CW 5385/2003, Order Dated 17 November 2003)
Facts of the CaseThe petitioner, Rakesh Kumar Aggarwal, filed a writ petition
challenging the order dated 24/25 July 2003 passed by the Commissioner of
Income Tax, Delhi-XIII, New Delhi. By the impugned order, the Comm...
Commissioner of Income Tax vs M/s Ansal Housing & Construction – Power of ITAT to Recall Ex Parte Order and Restore Appeal Under Rule 24 of the ITAT Rules, 1963 | Section 255, Income-tax Act, 1961
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order of the Income Tax Appellate Tribunal (ITAT),
whereby the Tribunal had allowed the assessee’s application seeking recall o...
Commissioner of Income Tax-VI, New Delhi vs M/s Tej Quebecor Printing Ltd. – Depreciation on Foreign Exchange Fluctuation Adjustment under Section 43A of the Income-tax Act, 1961 on Imported Capital Assets and Foreign Currency Loans
Facts of the CaseThe Revenue filed an appeal before the Delhi High Court
under Section 260A of the Income-tax Act, 1961 challenging the order of the
Income Tax Appellate Tribunal (ITAT) for Assessment Year 1996-97. The...