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M/s Soul vs. Deputy Commissioner of Income Tax & Valvoline Cummins Limited Context | [Petitioner Name] vs. Income Tax Department | Writ Petition (Civil) No. 7373 of 2009 | Stay of High-Pitched Income Tax Demand Under Section 220(6) of the Income Tax Act, 1961: Delhi High Court Directs Conditional Stay and Fresh Consideration in Light of Valvoline Cummins and M/s Soul Judgments
Facts of the Case
The
petitioner approached the Hon’ble Delhi High Court via a Writ Petition
WP(C) No. 7373/2009 challenging an impugned order that denied a complete
stay on an outstanding income ta...
Ester Industries Limited v. Commissioner of Income Tax, Delhi-IV: High Court Directs ITAT to Re-hear Matter on Mechanical Additions and Non-Conclusiveness of Admissions in Tax Returns Without Reasonable Opportunity of Hearing
Facts of the Case
The
appellant-assessee (Ester Industries Limited) filed appeals under Section
260A of the Income Tax Act, 1961 against a common order passed by the
Income Tax Appellate Tribunal (ITA...
Commissioner of Income Tax v. [Assessee] – Whether Transfer of DSIDC Plot Through Prior Agreement to Sell Can Be Treated as a Deemed Gift under Section 4(1)(a) of the Gift Tax Act, 1958 | Delhi High Court
Facts of the
CaseThe assessee was allotted a plot of land by the
Delhi State Government Industrial Development Corporation (DSIDC) in the year
1991.Immediately thereafter, the assessee entered into
an Agreement to Se...
Ester Industries Limited vs. Commissioner of Income Tax, Delhi-IV | Whether Admission of Disallowances in Original or Revised Returns Conclusively Bars Taxpayer Claims under Sections 37(2) and 43B and Rules 6B and 6D of the Income Tax Act without Opportunity of Being Heard
Facts of the CaseThe appellant/assessee, Ester Industries Limited, filed
appeals under Section 260A of the Income Tax Act, 1961, challenging a common
judgment dated 22.12.2006 passed by the Income Tax Appellate Tribuna...
Commissioner of Income Tax (Central) v. Pravin Juneja: High Court Dismisses Income Tax Appeal Over Cash Seizure and Clubbing of Spouse's Income Due to Absence of Substantial Question of Law under Section 260A
Facts of the Case
Search
and Seizure Action: A search and seizure operation was
conducted against the Assessee, Mr. Pravin Juneja, and a group of
companies associated with him.
Seizure
of Cas...
K.K. Mohta Vs. The Assistant Commissioner of Income Tax: Quashing of Criminal Prosecution under Section 276C(1) of Income Tax Act, 1961 via Section 482 CrPC on Debatable Business Expenditure Disallowances devoid of Wilful Tax Evasion
Facts of the Case
Corporate
Profile: The petitioner, K.K. Mohta, served as the
Managing Director of Mohta Electro Steel Limited (MESL) and actively
managed its day-to-day operations.
Tax
Retu...
Commissioner of Income Tax (Revenue) vs. Assessee | ITA No.370/2009 (Delhi HC) | Disallowance of Advertisement, Sales Promotion, Training & Recruitment Expenses as Revenue Expenditure vs. Capital Expenditure under Income Tax Act, 1961 and Treatment of Foreign Exchange Fluctuation Loss Covered under CIT vs. Woodward Governor
Facts of the Case
The
Assessee claimed specific deductions in its profit and loss account, which
included expenditures incurred on advertisement and sales commission,
training and recruitment, as well...
ONGC Videsh Limited & Another vs Deputy Commissioner of Income Tax, Circle 13(1), New Delhi & Others | Delhi High Court | Stay on Recovery of Penalty Demand Pending Appeal under Section 271(1)(c) of the Income Tax Act
Facts of the
CaseONGC Videsh Limited, a wholly owned subsidiary of
Oil and Natural Gas Corporation (ONGC) and a Government undertaking engaged in
exploration, development, and production of hydrocarbons outside India,...
Commissioner of Income Tax v. Mohan Meakin Ltd. & Connected Appeals – Whether Notional State Excise Duty Can Be Added to Closing Stock and Whether Gain on Sale of Depreciable Assets is Taxable under Sections 41(1) and 50 of the Income-tax Act
Facts of the CaseThe Revenue filed a batch of appeals raising common
issues concerning Mohan Meakin Ltd. and connected matters. One of the issues
related to expenditure incurred on Puja, Hawan and similar activities, w...
Commissioner of Income Tax vs. Mohan Meakin Ltd. | Delhi High Court | State Excise Duty Valuation of Closing Stock and Taxability of Capital Gains on Low-Value Business Assets under Section 41(1) of Income Tax Act, 1961
Facts of the
CaseMohan Meakin Ltd., engaged in the manufacture of
liquor and beer, was subjected to assessment proceedings wherein the Assessing
Officer enhanced the value of closing stock by adding state excise duty ...