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Paragon Constructions (I) Pvt. Ltd. v. Commissioner of Income Tax, Delhi-V & Another – Taxability of Interest on Arbitration Award Subject to Litigation | Sections 5 & 145 of the Income-tax Act, 1961
Facts of the
CaseParagon Constructions (I) Pvt. Ltd. entered into a
contract with the New Delhi Municipal Committee (NDMC). Disputes arose
regarding the execution of the contract and alleged defaults by NDMC. The
mat...
Braham Parkash vs Income Tax Officer – Reassessment Notice Issued to Deceased Assessee Held Invalid | Sections 148, 156 & 221(1) of the Income-tax Act, 1961
Facts of the
CaseThe case arose from land acquisition proceedings
involving one Sheesh Ram, who was the original claimant. During the pendency of
the proceedings, Sheesh Ram passed away on 03.08.1986, and his se...
Braham Parkash v. Income Tax Officer – Reassessment Proceedings Against Deceased Assessee Held Invalid Due to Non-Service of Notice Under Section 148 of the Income-tax Act, 1961
Facts of the
CaseThe dispute arose from land acquisition proceedings
involving Sheesh Ram and others. During the pendency of the land acquisition
reference proceedings, Sheesh Ram died on 3 August 1986. His legal heir...
M/s DCM Ltd. v. Commissioner of Income Tax – Whether Amount Credited to Molasses Storage Fund Constitutes Taxable
Facts of the CaseThe assessee, M/s DCM Ltd., was a public
limited company engaged in the manufacture of various products, including
sugar.Under the provisions of the Molasses Control
(Regulation of Fund for Erection o...
DCM Ltd. vs Commissioner of Income Tax – Taxability of Molasses Storage Fund Collections and Diversion of Income by Overriding Title | Delhi High Court
Facts of the CaseThe assessee, DCM Ltd., was a public limited
company engaged in the manufacture of various products including sugar. Under
the Molasses Control (Regulation of Fund for Erection of Storage Facilities)
...
Pradeep Jain vs DCIT, Circle-61(1), Delhi – Ex-Parte CIT(A) Order Set Aside for Violation of Natural Justice | Sections 68, 115BBE, 143(3), 144B & 250(2)(a) of Income Tax Act
Facts of the CaseThe assessee, Mr. Pradeep Jain, filed his return of income for
Assessment Year 2022-23 declaring total income of ₹44,91,930. The case was
selected for complete scrutiny under CASS.During assessment p...
Commissioner of Income Tax vs British Airways (2004) – ITAT Appeal Cannot Be Dismissed Merely for Absence of Grounds in Memorandum of Appeal | Rule 12 of ITAT Rules, 1963
Facts of the CaseThe Revenue filed multiple appeals before the
Income Tax Appellate Tribunal (ITAT). The Tribunal dismissed those appeals at
the threshold (in limine) on the ground that the memorandum of appeal filed i...
Commissioner of Income Tax, Delhi-I vs M/s Montari Chemcare Investment (ITA No. 107/2004) – Penalty under Section 271(1)(c) on Concealed Income Despite Assessed Loss
Facts of the CaseThe
assessee filed its return of income declaring a loss. During assessment
proceedings, the Assessing Officer found that certain income had been concealed
or inaccurate particulars had been furnished...
Commissioner of Wealth Tax v. Allied Finance Pvt. Ltd. & Others (Delhi High Court) – Principle of Consistency in Wealth-Tax Valuation and Bar on Selective Revenue Appeals under Section 27A of the Wealth-tax Act, 1957
Facts of the CaseThree companies, namely Allied Finance Pvt. Ltd.,
R.K.K.R. Industries Pvt. Ltd., and R.K.K.R. International Pvt. Ltd., jointly
purchased property bearing No. 12, Aurangzeb Lane, New Delhi through a sal...
Commissioner of Income Tax, Delhi-I vs M/s Krisons Electronics System (ITA No. 106/2004) – Penalty u/s 271(1)(c) Leviable Even Where Assessed Income Remains Loss
Facts of the CaseThe Revenue
filed an appeal before the Delhi High Court challenging the orders of the
Income Tax Appellate Tribunal (ITAT), which had deleted penalties imposed under
Section 271(1)(c) of the Income-ta...