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COMMISSIONER OF INCOME TAX vs M S HINDUSTAN MGMT AND TECHNICAL CONSULTANTS PVT LTD – Conversion of Investment into Stock in Trade and Allowability of Business Loss under Income Tax Act
Facts of the CaseThe assessee was engaged in the business of electronic data
processing, technical analysis of data, and providing computer systems. The
assessee had originally purchased shares of IDM Ltd. as an invest...
Commissioner of Income Tax vs. M/s Coolage Beverages Ltd. | Penalty under Section 271(1)(c) of Income Tax Act Cannot Be Imposed Merely for Disallowance of a Claim Where Full and Accurate Facts are Disclosed by Assessee
Facts of the Case
The
Assessee, M/s Coolage Beverages Ltd., filed its income tax return making
certain claims for deductions/declarations.
The
Assessing Officer (AO) did not agree with the treatmen...
Schindler Aufzuge Und Fahrtrep vs. Director of Income Tax & Ors: Determination of Permanent Establishment for Section 197 Certificate
Facts
of the Case·
The petitioner challenged two orders:
one dated January 16, 2003, passed by the Director of Income-tax (International
Taxation), and another dated J...
Commissioner of Income Tax, Delhi vs. M/s Usha Stud & Agricultural Farms Ltd. (ITA No. 1104/2005) – Dismissal of Revenue's Appeal on Parity of Reasoning and Principles of Consistency under Section 260A of the Income Tax Act, 1961
Facts of the Case
The
Revenue filed an appeal (ITA No. 1104/2005) before the High Court of Delhi
against the order of the Income Tax Appellate Tribunal (ITAT) for the
assessment year 1979-80.
The
...
Commissioner of Income Tax vs M/s General Sales Ltd. – Deduction under Section 80HHC and Allocation of Direct and Indirect Costs for Export Business
Facts of the CaseThe assessee, M/s General Sales Ltd., was engaged primarily
in the export of goods as a trading activity. Apart from export operations, it
also earned income from dividend receipts, foreign profits, mi...
Commissioner of Income Tax vs. M/S Caparo Maruti Ltd. (2005): Penalty Under Section 271(1)(c) Not Maintainable on Loss Returns, Debatable Pre-Operative Expense Adjustments, or Lack of AO's Recorded Satisfaction
Facts of the Case
The
Assessee (M/S Caparo Maruti Ltd.) filed its return of income on
November 28, 1996, declaring a loss return.
In
the return, the Assessee claimed a set-off of its interest incom...
Director of Income Tax (Exemption) Vs. Daulat Ram Education Society: Exemption Under Section 11(2) Involving Plurality of Charitable Purposes
Facts
of the Case·
The assessee, Daulat Ram Education
Society, accumulated its unspent income and claimed exemption benefits under
Section 11 of the Income Tax Act.
Â...
The Commissioner of Income Tax vs M/s Unipatch Rubber Ltd. – Deduction of Excise Duty on Unsold Closing Stock under Section 43B of the Income Tax Act, 1961
Facts of the CaseThe Revenue challenged the order of the Income Tax Appellate
Tribunal, Delhi Bench "C", relating to Assessment Year 1997-98. The
dispute concerned the allowability of deduction of excise duty paid by t...
Shahid Atiq vs. Commissioner of Income Tax: Delhi High Court Decides Whether Reassessment Proceedings Under Section 148 Are Rendered Null and Void Due to Non-Service of Statutory Notice on All Legal Representatives of a Deceased Assessee
Facts of the CaseThe deceased assessee, late S.H. Atiquer Rehman, filed his
income tax returns for the Assessment Years (AY) 1992-93 and 1993-94, which
were initially processed under Section 143(1A) of the Income Tax A...
Commissioner of Income Tax v. Dabur India Ltd. (2005) – Supply of Printed Corrugated Boxes Constitutes Sale of Goods and Not a Works Contract under Section 194C of the Income-tax Act
Facts of the
CaseDabur India Ltd. procured corrugated boxes from
suppliers for packing its products. These boxes contained printed labels and
specifications as required by the assessee.The Revenue authorities to...