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Keane India Ltd., Delhi v. Commissioner of Income Tax, Delhi – Reassessment Objections, Natural Justice and Requirement of Speaking Order Before Completion of Assessment under section 147 of the Income Tax Act, 1961
Facts of the CaseKeane India Ltd., Delhi filed a writ petition before the Delhi
High Court challenging the conduct of assessment proceedings by the Income Tax
Department.During the hearing, counsel appearing for the Re...
Commissioner of Income Tax v/s. M/s Akash Deep Promoters & Developers Pvt. Ltd. – Deductibility of Additional Service Charges Paid to Associated Concern under Sections 40A(2)(b) and 260A of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe respondent-assessee, M/s Akash Deep Promoters
& Developers Pvt. Ltd., was engaged in the business of real estate
development. For Assessment Year 2000-01, it filed its return declaring a loss
...
Commissioner of Income Tax, Delhi-I vs M/s Mahavir Aluminium Ltd. – Penalty under Section 271(1)(c) on Reduced Loss Assessment After Insertion of Explanation 4
Facts of the CaseThe Revenue
filed an appeal before the Delhi High Court challenging the order of the Income
Tax Appellate Tribunal (ITAT), which had deleted the penalty imposed under
Section 271(1)(c) of the Income-t...
Commissioner of Income Tax v/s. B.R. Sharma (2005) – Penalty under Section 271(1)(c) Invalid Without Recorded Satisfaction | Delhi High Court
Facts of the
CaseThe assessee, B.R. Sharma, filed his return of
income for Assessment Year 1994-95 declaring income of approximately Rs.10.13
lakhs. During assessment proceedings, the Assessing Officer made an additio...
M/s Shankar Trading Co. Ltd. v. Income Tax Appellate Tribunal – Stay of Tax Demand, Recovery Proceedings and Conditions for Hearing of Appeals Before ITAT under the provisions of Income Tax Act, 1961
Facts of the CaseM/s Shankar Trading Co. Ltd. filed a writ petition before the
Delhi High Court challenging an order passed by the Income Tax Appellate
Tribunal in November 2004.By the impugned order, the Tribunal reje...
Commissioner of Income Tax v/s. M/s Akash Deep Promoters & Developers Pvt. Ltd. – Allowability of Additional Service Charges Paid to Associate Concern under Sections 37(1) and 40A(2)(b) of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe respondent-assessee, M/s Akash Deep Promoters
& Developers Pvt. Ltd., was engaged in the real estate business. For
Assessment Year 2000-01, it filed its return declaring a loss of ₹82,030.Dur...
Commissioner of Income Tax vs. M/s C.L. Batra | Levy of Penalty under Section 271(1)(c) on Loss Returns
Facts of the Case·
The
assessee filed a return of income showing a loss. ·
The
tax assessment was subsequently complet...
V.K. Jain v/s. Commissioner of Income Tax, Delhi-XII (ITA No. 234 of 2004 & Connected ITA No. 462 of 2003) – Taxability of Enhanced Land Acquisition Compensation under Sections 45(5), 254(2) & 260A of the Income-tax Act, 1961
Facts of the
CaseThe assessee, V.K. Jain, possessed bhumidari
rights in land acquired by the Delhi Government. Apart from the assessee,
another claimant, namely Gaon Sabha, also asserted ownership rights over
the lan...
Jeevan Dhar Jain v. Commissioner of Income Tax & Another – Deductibility of Interest Liability on Suit Filed Amounts and Contingent Liability under Section 260(A) of the Income-tax Act
Facts of the CaseThe assessee, Shri Jeevan Dhar Jain, preferred an appeal
before the Delhi High Court against the order of the Income Tax Appellate
Tribunal.An application for condonation of delay in filing the appeal
...
Commissioner of Income Tax vs. M/S Trian Quebec Gears Ltd. & Ors. : Imposition of Penalty Under Section 271(1)(c) when Assessed Income is a Loss
Facts of the CaseThe matter concerns a batch of appeals under Section
260A of the Income Tax Act, 1961, heard
collectively by the Delhi High Court. The core dispute arose because the
Assessing Officer (AO) initiated p...