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Commissioner of Income Tax vs. Gupta Abhushan Pvt. Ltd. – Delhi High Court Rules That Stock Discrepancies and Renovation Work Found During Section 133A Survey Cannot Form 'Reason to Believe' for Reopening Past Assessments Under Section 147/148 of the Income Tax Act, 1961
Facts of the Case
The
respondent-assessee filed income tax returns for the Assessment Years (AY)
1999-2000, 2000-2001, and 2001-2002, which were originally processed under
Section 143(1) of the Income...
Commissioner of Income Tax v. Assessee – Rule of Consistency Applied; Revenue Appeals Dismissed as No Substantial Question of Law Arose | Delhi High Court
Facts of the
CaseThe Revenue filed appeals before the Delhi High
Court against the orders passed by the Income Tax Appellate Tribunal (ITAT) in
respect of Assessment Years 1996-97 and 1997-98.During the hearing, couns...
Commissioner of Income Tax Vs. M/s. Oswal Agro Mills Ltd. (and Associated Appeals): Whether Depreciation Under Section 32 of the Income Tax Act, 1961 is Allowable on a Temporarily Closed or Non-Functional Unit Solely Because It Forms Part of a Consolidated 'Block of Assets'
1. Facts of the Case
The
Parties: The appeals involve the Revenue
(Commissioner of Income Tax) as the Appellant and M/s. Oswal Agro Mills
Ltd. along with M/s. Oswal Chemicals & Fertilizers Ltd. as...
Commissioner of Income Tax v. Assessee (ITA No. 1029/2008) – Rule of Consistency Applied; Revenue Appeal Dismissed by Delhi High Court|under section260A of the Income-tax Act, 1961
Facts of the
Case
The Income Tax Appellate Tribunal had rendered decisions in favour
of the assessee for Assessment Years 1989-90 to 1995-96.
No appeals were filed by the Revenue against those Tribunal o...
Commissioner of Income Tax, Delhi-IV vs. Gupta Abhushan Pvt. Ltd. | Validity of Reopening of Assessment Under Section 147 Based on Mere Suspicion and Extrapolation of Survey Findings to Past Assessment Years
Facts of the Case
The
respondent-assessee filed its income tax returns for the Assessment Years
(AY) 1999-2000, 2000-2001, and 2001-2002, which were initially processed
under Section 143(1) of the Inc...
Commissioner of Income Tax vs. M/s. Oswal Agro Mills Ltd. (and Oswal Chemicals & Fertilizers Ltd.) | Allowance of Depreciation under Section 32 on Temporary Closed Business Unit Forming Part of "Block of Assets"
Facts of the Case
The
respondent-assessee claimed a depreciation of ₹9.31 Crores for the
Assessment Year 1998-99 on its various capital assets.
This
claim included depreciation on its factory man...
Commissioner of Income Tax, Delhi-IV vs. Gupta Abhushan Pvt. Ltd. | Validity of Re-opening Assessment Under Section 147/148 of Income Tax Act, 1961 Based on Post-Survey Extrapolations: Reason to Believe vs. Reason to Suspect
Facts of the Case
The
respondent-assessee filed its original income tax returns for the
Assessment Years (AY) 1999-2000, 2000-2001, and 2001-2002, which were
processed under Section 143(1) of the Inco...
Commissioner of Income Tax v. V.J. Strips Ltd. | Delhi High Court | ITA Nos. 890/2008, 960/2008 & 1029/2008 | Rule of Consistency in Income Tax Proceedings
Facts of the Case
The Income Tax Appellate Tribunal had passed orders in favour of
the assessee.
The Tribunal relied upon its earlier decisions concerning
Assessment Years 1989-90 to 1995-96.
No a...
Commissioner of Income Tax v. M/s Ahuja Radios: Inclusion of MODVAT Credit in Total Turnover for Section 80HHC Income Tax Deductions — Delhi High Court Case Law
Facts of the Case
Assessee
Profile: The respondent-assessee, M/s Ahuja Radios,
is engaged in the manufacturing and sale of public address equipment,
including amplifiers, microphones, and loudspeakers...
Commissioner of Income Tax (TDS) v. Bhasin Motors India Pvt. Ltd. – Appeals Dismissed Due to Low Tax Effect and Applicability of CBDT Monetary Limit Circular
Facts of the
CaseBhasin Motors India Pvt. Ltd. had entered into an
arrangement with West Delhi Automobiles Pvt. Ltd. The Revenue disputed the tax
treatment arising from this arrangement and preferred several appeals b...