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Sonia Magu & Ors. v. Commissioner of Income Tax (Delhi High Court) – Addition on Account of Voluntary Offer of Income Cannot Survive Once Source of Jewellery is Fully Explained under Sections 132 & 69 of the Income-tax Act, 1961
Facts of the Case
A search and seizure operation under Section 132 of the Income-tax
Act, 1961 was conducted on 17 January 2002 at the premises of M/s India
Carriers Pvt. Ltd. and the residential premises o...
Commissioner of Income Tax vs. Mrs. Indu Nagu & Connected Assessees | Delhi High Court | Addition on Account of Unexplained Jewellery Cannot Survive Once Source is Fully Explained – Section 69A, Income Tax Act
Facts of the CaseA search and seizure operation under Section 132 of
the Income Tax Act was conducted on 17.01.2002 at the premises of M/s Indair
Carriers Pvt. Ltd. and at the residential premises of its directors,
sh...
Sonia Magu & Others vs Commissioner of Income Tax (Delhi High Court) – Addition for Unexplained Jewellery Cannot Survive Once Source is Fully Explained | Sections 132 & Block Assessment Provisions of Income Tax Act
Facts of the
Case
A search and seizure operation under Section 132 of the Income Tax
Act was conducted on 17.01.2002 at the premises of M/s Indair Carriers
Pvt. Ltd. and the residences of its directors, sh...
Commissioner of Income Tax vs. Assessee Company – Share Application Money Received from Identified Shareholders Cannot Be Treated as Undisclosed Income of the Company Under Section 68 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The assessee company received share application money from various
shareholders.
During assessment proceedings, the Assessing Officer questioned the
genuineness of the share capital rec...
Commissioner of Income Tax vs. Assessee Company – Share Application Money Received from Identified Shareholders Cannot Be Treated as Undisclosed Income of the Company Under Section 68 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The assessee company received share application money from various
shareholders.
During assessment proceedings, the Assessing Officer questioned the
genuineness of the share capital rec...
Commissioner of Income Tax vs. Sophisticated Marbles & Granite Industries – Marble Processing, Polishing and Finishing Activities Constitute “Manufacture” under the Income-tax Act (Delhi High Court)
Facts of the
CaseThe assessee was engaged in the business of
manufacture and sale of marble products.After purchasing marble blocks or slabs, the
assessee undertook various processes including:
Cutting of blocks int...
Commissioner of Income Tax v. Suresh Kumar Mittal | Reassessment under Sections 147/148 and Addition under Section 69D of the Income-tax Act, 1961 – Delhi High Court
Facts of the
CaseBased on intra-departmental information received by
the Assessing Officer (AO), a search was conducted on 15.12.1997 in the case of
Mr. Kamal Chand Jain. During the search, a large number of hundi rec...
Assessee vs. Commissioner of Income Tax – Delhi High Court Dismisses Income Tax Appeals Holding No Substantial Question of Law Arises | ITA No. 246/2008 & ITA No. 423/2008
Facts of the CaseThe appellants challenged the findings recorded by
the authorities below under the Income-tax Act.The High Court examined the orders passed by the
lower authorities.The Court found that the controversy...
Commissioner of Income Tax v. Assessee (Name Not Available in Uploaded Order) | Delhi High Court | ITA No. 304/2007 | Appeal Dismissed Due to Low Tax Effect
Facts of the CaseThe appeal was filed before the Delhi High Court
in ITA No. 304/2007. During the hearing, counsel appearing for the appellant
did not dispute that the tax effect involved in the matter was less than ...
M/s AKS & Associates vs Commissioner of Income Tax & Another | Delay in Determination and Payment of Special Audit Remuneration under Section 142(2D) of the Income-tax Act, 1961 – Delhi
Facts of the CaseThe petitioner was appointed as a Special Auditor
at the instance of the Assessing Officer in December 2006. Upon completion of
the Special Audit, the petitioner submitted the audit report and raised i...