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V.K. Jain v/s. Commissioner of Income-tax, Delhi-XII (Delhi High Court) – Taxability of Enhanced Land Acquisition Compensation Under Section 45(5) and Remand by ITAT
Facts of the CaseThe appellant, V.K. Jain, possessed bhumidari
rights in land that was acquired by the Delhi Government. Upon acquisition,
disputes arose regarding entitlement to compensation. Apart from the appe...
V.V. Burman vs Commissioner of Income Tax (Delhi High Court) – Perquisite Valuation of Employer-Provided Residential Accommodation under Rule 3 of the Income-tax Rules | Section 260A Income-tax Act
Facts of the CaseThe assessee, Shri V.V. Burman, was a Whole-Time
Director of M/s Dabur India Limited and derived income from salary, dividends,
interest, capital gains, and other sources from the company. The co...
Commissioner of Income Tax vs. M/s Modex Intl. Securities Pvt. Ltd. & Ors. (2005) | Section 271(1)(c) of the Income Tax Act, 1961
Facts of the CaseThe Income Tax Appellate Tribunal (ITAT) had consistently held that no
penalty for concealment of income could be levied under Section 271(1)(c) if
the assessment resulted in a "minus figure" or a loss...
M/s Mitsubishi Corporation v. Commissioner of Income Tax – Writ Petition Against Recovery Proceedings Pending Disposal of Appeal Before ITAT under Article 226
Facts of the CaseM/s Mitsubishi Corporation filed a writ petition before the
Delhi High Court in relation to recovery proceedings initiated by the Income
Tax Department.During the hearing, counsel appearing for the pet...
Commissioner of Income Tax, Delhi v. Pawan Kumar Jain (2005) – Penalty under Section 271(1)(c) Cannot Be Levied Where Wrong Section 80HHC Claim Was Based on Auditor’s Certificate and Full Disclosure of Facts
Facts of the
CaseThe Revenue preferred an appeal under Section 260A
of the Income-tax Act challenging the order of the Income Tax Appellate
Tribunal dated 15.12.2003. The dispute related to the initiation and impositi...
Commissioner of Income Tax v. Swedeshi Credits Pvt. Ltd. & Ors. (2005) - Penalty for Concealment of Income Regardless of Assessed Loss | Section 271
Facts of the CaseThe Revenue challenged several orders of the Income Tax Appellate
Tribunal (ITAT), which had deleted penalties imposed under Section 271(1)(c).
The ITAT relied on the view that if an assessee files a r...
Commissioner of Income Tax (Central) v/s. M/s Xerox Modi Corporation Ltd. & Anr. – Settlement Commission Powers under Section 245D of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe Commissioner of Income Tax (Central) filed a
writ petition before the Delhi High Court challenging the proceedings relating
to an application made by M/s Xerox Modi Corporation Ltd. before the Inc...
Commissioner of Income Tax v. M/s Dwarkadhish Financial Services – Share Application Money, Section 68 and Burden of Proof Regarding Identity, Creditworthiness and Genuineness of Investors
Facts of the CaseThe Revenue filed an appeal under Section 260A of the
Income-tax Act challenging the order of the Income Tax Appellate Tribunal
relating to Assessment Year 1997-98.The dispute arose from additions made...
Director of Income Tax vs M/s Indo Soviet Medicare & RFS (Delhi High Court) – Exemption under Section 10(22) for Educational Institutions Engaged in Language and Paramedical Education
Facts of the CaseThe assessee, M/s Indo Soviet Medicare & RFS,
was engaged in educational activities relating to Russian language studies and
paramedical education and training. For Assessment Year 1990-91, the Ass...
Commissioner of Income Tax vs. M/s. Global Trust Bank Ltd. (u/s 260A): A Critical Analysis of Assessment and Appellate Procedures
Facts of the Case·
The dispute involves the assessment proceedings of Global Trust
Bank Ltd. regarding financial adjustments and tax treatments.· ...