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Commissioner of Income Tax vs M/s Usha Stud & Agricultural Farms Pvt. Ltd. – Valuation of Foals, Depreciation on Horses and Agricultural Income Accounting | Sections 145 & 260A of the Income-tax Act
Facts of the CaseThe respondent-assessee, M/s Usha Stud &
Agricultural Farms Pvt. Ltd., was engaged in the business of breeding,
maintenance, and sale of horses along with agricultural activities. The
agricultural...
Commissioner of Income Tax (Central) vs Late Shri Yashan Kumar Through Legal Representatives – Principle of Consistency in Income Tax Proceedings | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order relating to the assessee, Late Shri Yashan Kumar
(through his legal representatives). During the hearing, counsel appearing...
Commissioner of Income Tax, Delhi-I vs M/s Sapna Tour and Travels & Leasing (ITA No. 503/2004) – Penalty under Section 271(1)(c) Leviable Even Where Assessed Income Remains a Loss
Facts of the CaseThe Revenue
filed a batch of appeals before the Delhi High Court challenging orders of the
Income Tax Appellate Tribunal (ITAT), including ITA No. 503/2004 concerning M/s
Sapna Tour and Travels & ...
Commissioner of Income Tax vs. M/s Usha Stud & Agricultural Farms Pvt. Ltd. (Delhi High Court) – Valuation of Foals, Depreciation on Horses, Method of Accounting and Question of Law under the Income-tax Act
Facts of the CaseThe respondent-assessee, M/s Usha Stud &
Agricultural Farms Pvt. Ltd., was engaged in the business of breeding,
maintaining and dealing with horses. The company also carried on agricultural
activi...
Commissioner of Income Tax, Delhi-VIII v. Lalit Bhasin – Whether Addition under Section 69B Can Be Sustained Without Evidence of Understatement of Investment
Facts of the
CaseThe assessee, Shri Lalit Bhasin, filed his
return of income for Assessment Year 1991-92 declaring income of ₹4,06,810.
During scrutiny proceedings under Section 143(2), the Assessing Officer n...
Commissioner of Income Tax v. Sudish Kumar – Assessing Officer’s Power to Refer Cost of Construction to Valuation Officer and Applicability of Section 142A of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee, Sudish Kumar, filed his return of
income for Assessment Year 1996-97 declaring total income of Rs. 59,210. The
return was initially processed under Section 143(1)(a) of the Income-tax Ac...
Commissioner of Income Tax v. Triveni Engineering Industries Ltd. – Addition on Molasses Storage Fund Deleted | Delhi High Court | ITA No. 9 of 2002| under section 1961 income tax act
Facts of the
CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order of the Income Tax Appellate Tribunal (ITAT) and the
Commissioner of Income Tax (Appeals) [CIT(A)].The dispute related to t...
Commissioner of Income Tax v. M/s Gangeshwar Ltd. – Deletion of Addition Towards Molasses Storage Fund | Whether Amount Collected for Molasses Storage Fund Constitutes Taxable Income? | Delhi High Court
Facts of the
Case
The Revenue preferred an appeal before the Delhi
High Court against the order of the Income Tax Appellate Tribunal (ITAT), which
had upheld the decision of the Commissioner of Income Tax (Appeals)...
Commissioner of Income Tax v. M/s Gangeshwar Ltd. – Deletion of Addition Towards Molasses Storage Fund Receipts | Delhi High Court
Facts of the CaseThe Revenue challenged the order of the Income Tax
Appellate Tribunal (ITAT) and the Commissioner of Income Tax (Appeals) [CIT(A)]
whereby an addition of Rs. 6,69,708/- made in the hands of the assesse...
Commissioner of Income Tax v. Sushila Sharma (2005) – Delhi High Court | Income Tax Appeal Dismissed Following Earlier Precedent| under section 1961 income tax act
Facts of the
CaseThe Revenue, through the Commissioner of Income
Tax, filed an appeal before the Delhi High Court against the order passed in
favour of the assessee, Sushila Sharma. The dispute raised in the appeal
w...