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Shri Ashok Soi v/s. Commissioner of Income Tax (Delhi High Court) – Capital Gains Tax on Co-Ownership Share and Deduction under Section 48 for Payments Made to Settle
Facts of the
CaseThe assessee, Shri Ashok Soi, along with his wife
and two sons, sold property bearing No. 22, Darya Ganj, New Delhi through a
sale deed dated 30 May 1994. The property had originally belonged to the
...
Commissioner of Income Tax vs M/s Mittal Corporation (Delhi High Court) – Eligibility of Deduction under Section 80-O of the Income-tax Act, 1961 on Commission Income Earned from Foreign Enterprises
Facts of the CaseThe
assessee, M/s Mittal Corporation, acted as a buying agent for foreign
enterprises, namely foreign buyers situated outside India. During the relevant
assessment year, the assessee earned comm...
Finality and Conclusiveness of Settlement Commission Orders: Decoding the Limits of Section 154 Rectification in Light of CIT v. Anjum M.H. Ghaswala — Capital Cables (India) Pvt. Ltd. & Ors. vs. Income-tax Settlement Commission & Anr. (Sections 245-D, 245-I, and 154 of the Income-tax Act, 1961)
Facts of the CaseIn January or February 1994, various applicants moved
individual applications before the Settlement Commission under Section 245-C of
the Income-tax Act, 1961. Following an initial order under Section ...
Finality of Settlement Commission Orders: A Comprehensive Analysis of Bhalla Mech. Works vs. Income Tax Settlement Commission & Ors. (2004:DHC:19993) – Examining the Limits of Section 154 Rectification Powers under the Income Tax Act, 1961
Facts of the Case
In
early 1994, various petitioners initiated proceedings by filing
applications under Section 245-C of the Income-tax Act, 1961, seeking a
formal settlement of their tax disputes.
...
Capital Cables (India) Pvt. Ltd. vs. Income-Tax Settlement Commission: Finality of Orders Under Section 245D(4) and the Legal Bar on Rectification Under Section 154 of the Income Tax Act
Facts of the Case
The
applicants filed settlement applications in early 1994 under Section 245-C
of the Income-tax Act, 1961.
The
Settlement Commission passed an order under Section 245-D(1) around...
M/s Karan Associates (P) Ltd. Vs. Income Tax Settlement Commission & Anr.: Delhi High Court Adjudicates on the Interplay of Conclusiveness, Jurisdiction, and Rectification of Orders under Section 245D and Section 154 of the Income Tax Act, 1961
Facts of the Case
The
Petitioner, M/s Karan Associates (P) Ltd., approached the Hon'ble
Delhi High Court by way of a Civil Writ Petition (CWP No. 3343/2003) to
challenge an administrative or quasi-jud...
Shri Shyam Sales vs. Income Tax Settlement Commission & Anr. | Jurisdictional Bar on Settlement Commission to Invoke Section 154 for Rectification of Final Orders Passed Under Section 245D(4) of Income Tax Act, 1961: A Comprehensive Analysis of Delhi High Court’s Landmark Judgment (W.P. (C) No. 5317/2004)
Facts of the Case
Origin
of the Dispute: The petitioner, M/s Shri Shyam Sales,
approached the Hon'ble High Court of Delhi under Article 226 of the
Constitution of India to challenge a controversial pr...
Shri Shyam Sales vs. Commissioner of Income Tax: Scope of Revisionary Jurisdiction Under Section 263 of the Income Tax Act, 1961 – Delhi High Court Rules on Valid Invocation, Prejudicial Orders, and Substantial Question of Law with Reference to Malabar Industrial Co. Ltd.
Facts of the Case
Background
of the Appeals: The assessee, Shri Shyam Sales, preferred
two interconnected appeals before the High Court of Delhi, registered as
Income Tax Appeal (ITA) No. 121 of 2004 ...
The Director of Income Tax v. M/s. Gian Bharti Trust (2004:DHC:13247-DB) – Exemption of Income Derived from Educational Institutions under Section 10(22) of the Income Tax Act, 1961: Applicability of Apex Court Precedent in Aditanar Educational Institution
Facts of the Case
The
Revenue preferred two references before the High Court of Delhi against
the order of the Income Tax Appellate Tribunal (ITAT) for the Assessment
Years (AY) 1984-85 and 1985-86.
...
Commissioner of Income Tax vs. M/s. Divine Light Mission: Scope of Exemptions under Sections 10, 11, and 12 of the Income Tax Act, 1961 for Charitable Trusts regarding Membership Subscriptions, Interest Income, and Suspense Accounts
Facts of the CaseThe case involves a series of reference applications and
appeals concerning the assessment years from 1966-67 onwards. The assessee,
M/s. Divine Light Mission, is an admitted charitable trust. The Inco...