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J. P. Gupta vs Commissioner of Income Tax, Delhi High Court (2008) – Allowability of Licence Fee as Accrued Liability vs Contingent Liability under Income Tax Act, 1961
Facts of the
CaseThe assessee, J. P. Gupta, filed multiple income
tax appeals challenging the order of the Income Tax Appellate Tribunal. The
dispute centered on whether licence fee payable to the Railways for use of
...
J. P. Gupta vs Commissioner of Income Tax, Delhi High Court (2008) — Whether Licence Fee to Railways for Depot Use is an Accrued Liability or Contingent Liability; Remand to Tribunal for Reconsideration in Light of Earlier ITAT Decision
Facts of the
CaseThe assessee, J. P. Gupta, filed multiple Income
Tax Appeals challenging the order of the Income Tax Appellate Tribunal (ITAT)
dated 22.07.2008.The core dispute related to licence fee payable
t...
J. P. Gupta vs Commissioner of Income Tax (Delhi High Court, ITA Nos. 1349–1354/2008, Judgment dated 11.12.2008) – Income Tax Act | Accrued Liability vs Contingent Liability – Allowability of Licence Fee as Business Expenditure under Income Tax Law
Facts of the
Case
The appellant, J. P. Gupta, filed multiple income tax
appeals against a common order of the Income Tax Appellate Tribunal dated
22.07.2008.
The core dispute involved licence fee payabl...
Ranbaxy Laboratories Ltd. vs Commissioner of Income Tax, New Delhi – Deduction under Section 80IA of Income Tax Act on Duty Drawback & Profit on Sale of REP Licences | Delhi High Court Judgment (2008)
FACTS OF THE
CASE
The appellant, Ranbaxy Laboratories Ltd., claimed deduction under
Section 80IA on income arising from:
Duty drawback
Profit from sale of REP licences
The Income Tax Appellate T...
Commissioner of Income Tax vs. Delhi Tourism & Transportation Development Corporation (DTTDC) & Ors. — Maintainability of Tax Appeals Involving State PSUs and the Requirement of Cabinet Secretariat's Committee on Disputes (COD) Clearance Under the Income Tax Act, 1961
Facts of the CaseThe Revenue (Central Government) preferred a series of Income
Tax Appeals (ITAs) before the High Court of Delhi against various Public Sector
Undertakings (PSUs) belonging to the State Government (incl...
M/s Bhav Shakti Steel Mines Pvt. Ltd. vs. Commissioner of Income Tax Income Tax Appeal No. 1174/2007 | Delhi High Court Judgment on Section 68 (Unexplained Cash Credits & Share Application Money)
Facts of the CaseThe appellant, M/s Bhav Shakti Steel Mines Pvt. Ltd., is a
private limited company that received share application money in cash from
various share applicants. The Assessing Officer raised issues regar...
Commissioner of Income Tax (TDS) & Commissioner of Income Tax, Delhi XVII vs Bhasin Motors India Pvt. Ltd. | Delhi High Court Dismisses Revenue Appeals Due to Low Tax Effect and CBDT Circular Applicability
Facts of the
Case
The Revenue filed multiple appeals before the Delhi High Court
against Bhasin Motors India Pvt. Ltd.
The appeals pertained to the financial years 1997-98 to 2001-02.
The total tax eff...
Commissioner of Income Tax, Delhi XVII & Commissioner of Income Tax (TDS) vs. Bhasin Motors India (P) Ltd. | Delhi High Court Dismisses Revenue Appeals Due to Low Tax Effect and CBDT Monetary Limit Circular| under section 260A of the Income-tax Act, 1961
Facts of the
Case
The Revenue preferred several appeals against Bhasin Motors India
(P) Ltd. relating to Financial Years 1997-98 to 2001-02.
The cumulative tax effect involved in all appeals was approxim...
Commissioner of Income Tax v. Bioseed Research (India) Pvt. Ltd. (ITA No. 719/2007) – Delhi High Court | MAT Credit Set-Off Before Levy of Interest under Sections 234B & 234C
Facts of the CaseThe Revenue challenged orders of the Income Tax Appellate
Tribunal which had held that MAT credit available under Section 115JAA must be
given effect before calculating interest under Sections 234B and...
Commissioner of Income Tax (Central)-I, New Delhi vs. Sain Processing & Weaving Mills (P) Ltd
Facts of the Case
The
Assessee, M/s Sain Processing & Weaving Mills (P) Ltd, filed its
return of income for the Assessment Year (AY) 1990-91 on December 31,
1990, declaring a business loss of ₹1...