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Director of Income Tax (Exemption) vs. Institute of the Franciscan Clarist Sister of the Most Blessed Sacrament: Interpretation of 'Solely for Educational Purposes' under Section 10(22)
Facts
of the CaseThe Assessee, a religious
institution, operated approximately 16 schools, employing over one thousand
teachers and nuns, and provided education to several thousand students. The
Assessing Officer con...
Director of Income Tax (Exemption) vs. Institute of the Franciscan Clarist Sister of the Most Blessed Sacrament: Scope of "Solely for Educational Purposes" under Section 10(22)
Facts
of the CaseThe Respondent (Assessee), a
religious/charitable institution, operated approximately 16 schools, employing
over a thousand teachers and nuns, and providing education to thousands of
students. The As...
LG Electronics India Pvt. Ltd. vs. Commissioner of Income Tax: Scope of Discretion under Section 220(1) of the Income Tax Act, 1961
Facts
of the CaseThe petitioner, a limited company
engaged in the marketing and servicing of consumer electronics, filed its
income tax return for the assessment year 2002-2003. Following a scrutiny
assessment under ...
Adesh Tyagi & Anr. v. Assistant Commissioner of Income Tax: Withdrawal of Writ Petition with Liberty to Refile via General Power of Attorney (GPA) Holder under Article 226 of the Constitution of India
Facts of the CaseThe petitioners, Adesh Tyagi and another, filed writ petitions
[W.P.(C) 10200/2005 and W.P.(C) 10201/2005] against the Assistant Commissioner
of Income Tax. During the course of the hearing, a procedur...
Commissioner of Income Tax vs. M/S HUDCO Ltd.: Mere Unilateral Book Entries Cannot Constitute Accrual of Chargeable Interest Under the Interest Tax Act Where the Claim is Explicitly Rejected
Facts of the Case
Society
Membership: The respondent-assessee (M/S HUDCO Ltd.)
was a member of the India Habitat Centre (IHC), a society registered under
the Societies Registration Act.
Area
...
Commissioner of Income Tax, Delhi v. M/s Competent Automobiles Co. Ltd. (2005) | Section 271C & Section 273B of the Income Tax Act – Deletion of Penalty for Failure to Deduct TDS on Advance Rent Due to Reasonable Cause: A Non-Substantial Question of Law
Facts of the Case
The
Assessee (M/s Competent Automobiles Co. Ltd.) had paid an advance amount
of rent to its landlord.
The
Assessee failed to deduct Tax Deducted at Source (TDS) on the said advanc...
M/s Consortium Trading Co. vs Commissioner of Income Tax – Deduction of Vacation Charges and Fixtures Cost from Capital Gains under Sections 45 and 260A of the Income Tax Act, 1961
Facts of the CaseThe assessee, M/s Consortium Trading Co., a partnership firm
consisting of a father and son, purchased a property in Bombay on 1 February
1989. The property was let out to M/s Intercraft Ltd., a compan...
Commissioner of Income Tax Delhi vs M/s Raghav Enterprises – Addition on Alleged Undervaluation of Stock During Block Assessment under Sections 132, 158BC and 260A of the Income Tax Act, 1961
Facts of the CaseA search operation under Section 132 of the Income Tax Act,
1961 was conducted at the business premises of M/s Raghav Enterprises. Pursuant
to the search, a notice under Section 158BC was issued and th...
Imposition of Penalty under Section 271(1)(c) when Assessed Income is a Loss: Commissioner of Income Tax vs. M/S Ushabh Metals Limited
Facts
of the CaseThe Commissioner of Income Tax
(Appellant) challenged an order passed by the Income Tax Appellate Tribunal
(ITAT) concerning the respondent, M/S Ushabh Metals Limited. The central
dispute involved th...
Commissioner of Income Tax Delhi vs V.B. Aggarwal – Addition of Unexplained Cash Credits in Block Assessment as Undisclosed Income under Sections 158B(b), 158BB and 260A of the Income Tax Act, 1961
Facts of the CaseA search operation was conducted at the business and
residential premises of the Aggarwal Group. Based on material allegedly
obtained during the search, the Assessing Officer made an addition of Rs.
6...