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Indian Bank v. Additional Commissioner of Income Tax & Another – Challenge to Show Cause Notice in Tax Recovery Proceedings under Income Tax Act, 1961
Facts of the CaseIndian Bank filed a writ petition before the Delhi High Court
challenging proceedings initiated by the Income Tax Department through a show
cause notice dated 21 February 2005 issued during tax recover...
Commissioner of Income Tax, Delhi-1 v/s M/S Coral Newsprints Limited & Ors. (2005): Penalty Under Section 271(1)(c) When Assessed Income is a Loss
Facts of the CaseThe
assessees filed income tax returns declaring losses. During assessment
proceedings, these losses were reduced due to the discovery of concealed
income. The ITAT initially deleted the penalties, re...
Commissioner of Income Tax v. Hitachi Ltd. Japan & Hitachi India Trading Pvt. Ltd. – Penalty under Section 271C for Failure to Deduct Tax at Source on Expatriate Employees’ Overseas Salary Components
Facts of the CaseHitachi Ltd., Japan maintained a liaison office in India until
February 1997. Thereafter, Hitachi India Trading Pvt. Ltd. was incorporated and
the liaison office was wound up. During verification of Fo...
Urmila Jain vs Commissioner of Income Tax (Delhi High Court) – Section 260A Appeal on Findings of Fact, Burden of Proof and Production of Evidence under the Income-tax Act
Facts of the CaseThe assessee, Urmila Jain, filed an appeal before
the Delhi High Court under Section 260A of the Income-tax Act challenging the
order dated 23 June 2004 passed by the Income Tax Appellate Tribuna...
Commissioner of Income Tax v. Northern Aromatics Ltd. – Deduction under Section 80IA on Processing Charges Earned from Job Work Manufacturing | Delhi High Court
Facts of the CaseThe assessee, M/s Northern Aromatics Ltd.,
was engaged in manufacturing activities and claimed deduction under Section
80IA of the Income-tax Act, 1961. During the relevant assessment year, the
assess...
Commissioner of Income Tax v. HCL Info System Ltd. (Delhi High Court) – Sections 192, 201(1), 201(1A) & 10(5) of the Income-tax Act, 1961 – TDS on Leave Travel Allowance (LTA) and Conveyance Allowance – Bona Fide Estimate by Employer
Facts of the CaseM/s HCL Info System Ltd., engaged in the business of computer
hardware, was responsible for deducting tax at source from salaries paid to its
employees. During verification proceedings and a survey con...
Ashok Kumar Gupta vs Commissioner of Income Tax-III (Delhi High Court) – Waiver of Interest under Section 220(2A) of the Income Tax Act and Requirement of Reasoned Order
Facts of the
CaseThe petitioner, Ashok Kumar Gupta, challenged an
order dated 24 December 2002 passed by the Commissioner of Income Tax, whereby
his application seeking waiver of interest under Section 220(2A) of the ...
Durga Dass Aggarwal vs. Commissioner of Income-tax: Classification of Corporate Expenditure as Deemed Dividend under Section 2(22)(e)
Facts of the CaseThe appellant, Mr. Durga Dass Aggarwal, was the Chairman of
M/s Piping & Energy Private Limited, holding 63.7% of its shares, with the
remaining 36.3% held by his wife. Being a non-resident Indian,...
Commissioner of Income Tax vs Usha Stud & Agricultural Farms Pvt. Ltd. | Valuation of Foals, Depreciation on Horses & Agricultural Income – Delhi High Court
Facts of the
CaseThe assessee, Usha Stud & Agricultural Farms
Pvt. Ltd., was engaged in the business of breeding, maintaining, and dealing in
horses. It also carried on agricultural activities, the produce of whic...
Commissioner of Income Tax v. M/S Bramco India Pvt. Ltd. | Levy of Penalty under Section 271(1)(c) of the Income Tax Act, 1961 on Assessed Loss:
Facts
of the Case:
The assessee filed a return of income for the relevant assessment year,
declaring a loss. Upon assessment, the Assessing Officer (AO) determined the
income at a reduced loss figure after finding in...