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Commissioner of Income Tax, Delhi-II v. Anand Prakash & Maha Maya General Finance Ltd. – Levy of Interest under Section 234B on Enhanced Land Acquisition Compensation Interest Income
Facts of the CaseThe land belonging to the assessee Anand Prakash was
acquired by the Government of Haryana. Dissatisfied with the original
compensation, the assessee sought enhancement before the competent court.Subse...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. – Whether Interest under Section 234B Can Be Levied on Interest Received on Enhanced Land Acquisition Compensation When Liability Was Not Foreseeable
Facts of the Case
Land
belonging to the assessees was acquired by the Government of Haryana under
the Land Acquisition Act, 1894.
The
assessees sought enhancement of compensation before the competen...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. | Section 234B Interest on Enhanced Land Acquisition Compensation – Delhi High Court
Facts of the CaseThe lands belonging to the assessees were acquired by the
Government of Haryana under the Land Acquisition Act, 1894.Dissatisfied with the original compensation, the assessees
sought enhancement before...
Commissioner of Income Tax-IV, New Delhi vs. Insilco Limited (2009) – Deductibility of Long Service Award Provision and Depreciation on Emergency/Insurance Spares under Sections 32 & 145 of the Income Tax Act, 1961
Facts of the CaseInsilco Limited was engaged in the business of manufacturing
spray-dried silica in technical collaboration with a German company.The company introduced a Long Service Award Scheme under
which employees...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. | Section 234B Interest on Enhanced Land Acquisition Compensation – Delhi High Court
Facts of the CaseThe assessees, Anand Prakash and Maha Maya General Finance
Ltd., owned land that had been acquired by the Government. Dissatisfied with
the compensation awarded, the assessees sought enhancement before...
Commissioner of Income Tax, Delhi-II vs. Anand Prakash & Maha Maya General Finance Ltd. – Levy of Interest under Section 234B on Interest Received from Enhanced Land Acquisition Compensation
Facts of the CaseThe lands belonging to the assessees were acquired by the
Government of Haryana under the Land Acquisition Act, 1894. Dissatisfied with
the original compensation awarded, the assessees sought enhanceme...
Commissioner of Income Tax-IV, New Delhi vs Insilco Limited (2009) – Deductibility of Long Service Award Provision and Depreciation on Emergency/Insurance Spares under Sections 32 & 145 of the Income Tax Act
Facts of the CaseThe assessee, Insilco Limited, was engaged in the business
of manufacturing spray dried silica in technical collaboration with a German
company.The assessee had introduced a Long Service Award Scheme
...
Commissioner of Income Tax vs. Morgan Securities and Credits Pvt. Ltd. & Autometers Ltd. (In re: ITA No. 195/2009) – Applicability of Section 145 and Binding Nature of Division Bench Precedents on Revenue Assessment
Facts of the CaseThe Appellant Revenue (Income Tax Department) preferred a
statutory tax appeal docketed as ITA No. 195/2009 along with a
procedural application CM No. 2050/2009 before the High Court of Delhi.
The dis...
Digember Jain Society for Child Welfare vs. Director General of Income Tax (Exemptions) | Exemption under Section 10(23C)(vi) Cannot Be Denied on Mere Apprehension of Future Non-Educational Activities | Delhi High Court
Facts of the Case
The
Petitioner, Digember Jain Society for Child Welfare (Regd.), was
established in 1969 and registered under the Societies Registration Act,
1860.
Since
its inception, the ...
Commissioner of Income Tax, Delhi-I vs. Banaras House Limited | Whether Non-Compete Fee is a Capital Receipt and Whether Revision under Section 263 Can Be Invoked When the Assessing Officer Has Taken a Plausible View
Facts of the CaseThe case relates to the assessment year 2002-03.
The respondent/assessee was engaged in marketing diesel generator sets
manufactured by M/s. Wartsila Corporation of Helsinki, Finland. The assessee
and...