Blog Categories
All Posts
Accounting Standard 12
CBDT 1
Chartered Accountant 1
Chartered Engineer 1
Greetings 1
Income Tax Act 2025 0
Labour Law 2
MCA Notification 1
MSME 1
NGO- Trust & Society 0
PLACEMENT 1
Press Information Bureau, Government of India (PIB) 2
RBI & Banks 1
RERA 0
RTI 1
STUDENT ICAI 2
Virtual Webinar 5
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
CIT vs. M/S Benda Amtek Limited: Penalty Under Section 271(1)(c) of the Income Tax Act in Case of Assessed Loss
Facts
of the CaseThe Income Tax Appellate Tribunal
(ITAT) had dismissed the Revenue's appeal, upholding the deletion of a penalty
imposed by the Assessing Officer under Section 271(1)(c) of the Income
Tax Act, 1961. ...
Commissioner of Income Tax vs M/s Jupiter Builders Pvt. Ltd. – Block Assessment of Undisclosed Income under Sections 158BC, 158BB, 132 and 260A of the Income Tax Act, 1961
Facts of the CaseThe assessee, M/s Jupiter Builders Pvt. Ltd., was engaged in
the business of real estate development. A search operation under Section 132
of the Income Tax Act was conducted on 21 February 1997 at its...
Penalty Under Section 271(1)(c) of Income Tax Act: Can It Be Imposed When Assessed Income is a Loss? – Commissioner of Income-tax vs. Sachkhand Printers
Facts
of the CaseThe respondent-assessee filed returns
resulting in a loss. The Revenue authorities initiated penalty proceedings
under Section 271(1)(c) of the Income Tax Act, 1961, alleging
concealment of income or...
Commissioner of Income Tax vs. M/s Aravali Securities & Finan: Judicial Scrutiny of Depreciation Claims and Tribunal Findings
Facts
of the CaseThe Income Tax Department
(Petitioner) challenged an order passed by the Income Tax Appellate Tribunal
regarding a depreciation claim made by the assessee, M/s Aravali Securities
& Finan (Respond...
CIT vs. M/s Trak Services P. Ltd.: Decoding Penalty Under Section 271(1)(c) for Assessed Losses
Facts
of the CaseThe Revenue (Commissioner of Income
Tax) filed an appeal before the High Court of Delhi against an order passed by
the Income Tax Appellate Tribunal (ITAT). The ITAT had previously deleted the
penalt...
Commissioner of Income Tax vs M/s General Sales Ltd. – Deduction Under Section 80HHC of the Income Tax Act, 1961 and Allocation of Direct and Indirect Expenses for Export Business
Facts of the CaseThe Revenue challenged the order dated 12 June 2003 passed
by the Income Tax Appellate Tribunal relating to Assessment Year 1992-93. The
dispute concerned the assessee’s claim for deduction under Sec...
Commissioner of Income Tax vs. M/S Hi Tech Gears Ltd.: Deciphering Penalty under Section 271(1)(c) when Assessed at a Loss
Facts
of the CaseThe Income Tax Appellate Tribunal
(ITAT) had deleted the penalty imposed under Section 271(1)(c) of the Income
Tax Act, 1961. The basis for this deletion was the assessee's contention that
their tota...
Commissioner of Income Tax vs M/s Unipatch Rubber Ltd. Deduction of Excise Duty on Closing Stock under Section 43B of the Income Tax Act 1961
Facts of the CaseThe assessee, M/s Unipatch Rubber Ltd., had paid excise duty
on goods manufactured by it. However, those goods had not been sold during the
relevant previous year and formed part of the closing stock. ...
Commissioner of Income Tax vs. M/s Bharat Hotels Ltd.: Applicability of Penalty under Section 271(1)(c) when Assessed Income is a Loss
Facts
of the Case·
The Revenue (Commissioner of Income
Tax) filed an appeal before the High Court of Delhi challenging an order of the
Income Tax Appellate Tribunal (I...
Anand & Anand vs. Commissioner of Income Tax: Crucial Interpretation of Section 80-O of the Income Tax Act Regarding Tax Deduction on Foreign Receipts for Legal Services Rendered "In" India vs. "From" India – Delhi High Court Ruling
Facts of the Case
The
Assessee's Profile: The appellant, M/s Anand & Anand,
is a leading Indian partnership firm consisting of legal practitioners who
specialize in intellectual property rights, i...