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M/s. Biotech International Ltd. & Anr. vs Assistant Commissioner of Income Tax | Reassessment Proceedings Valid Despite Earlier Assessment Being Quashed for Non-Service of Notice under Section 143(2) – Delhi High Court
Facts of the
Case
The assessee filed its return of income under Section 139(1) for AY
2001-02 claiming deduction under Section 80-IA.
The Assessing Officer completed scrutiny assessment under Section
143...
Commissioner of Income Tax vs. Assessee – Whether Expenditure Incurred Was Capital Expenditure or Revenue Expenditure – Appeals Dismissed by Delhi High Court under Section 260A of the Income-tax Act, 1961
Facts of the
Case
The Revenue preferred appeals before the Delhi High Court
challenging the treatment of certain expenditure claimed by the assessee.
The dispute centered on whether the expenditure const...
Delhi High Court Upholds Deductibility of Low-Value Promotional Gifts and Business Promotion Expenses Under Section 37(1) – CIT vs. M/s. C.B. K.R. Enterprises
Facts
of the Case·
The
respondent-assessee is a partnership firm engaged in the business of trading
and acts as a commission agent for M/s. Marico Industries Ltd. (man...
Commissioner of Income Tax vs Transport Assessee (ITA No. 1070/2009) – Delhi High Court Upholds Business Expediency in Freight Transport Operations under Section 143(1) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, engaged in the transport business,
filed the return of income for Assessment Year 2003-04 declaring total income
of Rs. 21,41,987/-. During assessment proceedings, the Assessing Officer ...
Atul Babbar, Advocate v. Sonia Mathur, Advocate (In re: Dismissal of Writ Petition as Withdrawn under Article 226 of the Constitution of India)
Facts
of the CaseThe petitioner instituted the Writ
Petition (Civil) No. 8870/2009 before the Division Bench of the High Court of
Delhi. When the matter was called for a regular hearing on July 16, 2009, the
petition...
Commissioner of Income Tax vs. Moving Picture Company (India) Ltd.: Scope of Section 194J vs. Section 194H Regarding TV Serial Rights Acquisition and Trade Discounts to Advertising Agencies
Facts of the Case
Assessee's
Business Operations: The assessee, Moving Picture Company
(India) Ltd., entered into financial transactions spanning Assessment
Years 2000-01 and 2001-02.
Transaction
...
The Commissioner of Income Tax Vs. Moving Picture Company (India) Ltd. – Scope of TDS under Section 194J on Production Cost of Television Serials and Applicability of Section 194H on Trade Discounts Retained by Advertising Agencies
Facts of the Case
The
Assessee, Moving Picture Company (India) Ltd., made payments to its
subsidiary, TVAM (India) Pvt. Ltd., representing the cost of production
(plus a 7.5% profit margin) for a tele...
CIT v. Assessee (ITA No. 63/2009) | Section 271(1)(c) vs Section 80-O / 80AB | Claiming Deduction on Gross Foreign Exchange Receipts vs Net Income – Bonafide Misinterpretation Not Amounting to Concealment or Furnishing Inaccurate Particulars of Income
Facts of the Case·
The assessee filed a return declaring an income of ₹3,06,720. ·
The Assessment Officer (AO) complet...
M/s Ester Industries Ltd. vs. CIT, Delhi-IV | Principles of Natural Justice in Tax Assessments: Why Voluntary Admission in Returns is Not Conclusive Proof of Tax Liability & Cannot Substitute independent Application of Mind by Assessing Officer – Relying on SC Pullangode Rubber Precedent
FACTS OF THE CASE
The
Appellant-Assessee, M/s Ester Industries Limited, filed appeals
under Section 260A of the Income Tax Act, 1961, contesting a common
judgment dated December 22, 2006, passed by th...
Commissioner of Income Tax vs Same Assessee – Delhi High Court Dismisses Revenue’s Appeal Following Earlier Decision in Assessee’s Favour | ITA No. 1030/2009
Facts of the CaseThe Revenue filed the
present appeal before the Delhi High Court in ITA No. 1030/2009. During the
hearing, it was brought to the Court’s notice that an identical issue had
already been raised and de...