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Jaypee Institute of Information Technology Society vs. Director General of Income Tax (Exemptions), Delhi under Section 10(23C)(vi),Section 2(15)
Facts of the Case
The
Petitioner, Jaypee Institute of Information Technology Society, is a
registered society under the Societies Registration Act, 1860, running an
institute named "Jaypee Institute o...
Income Tax Appeal Under Section 260A: Comprehensive Adjudication on Depreciation Allowances for Passive Asset Usage, Capital Expenditure Incurrence under the Mercantile Accounting Framework for Scientific Research, and the Evidentiary Value of Revenue-Commissioned Survey Reports.
Facts
of the Case·
Background
of the Appeal: This statutory
appeal was preferred by the Revenue (Commissioner of Income Tax-V) under
Section 260A against the corporat...
Commissioner of Income Tax vs. Rancan Impex Pvt. Ltd. | Depreciation under Section 32 and Amortization of Deferred Revenue Expenditure: Delhi High Court Verdict
Facts of the CaseThe Appellant (Revenue/Income Tax Department)
filed an appeal (ITA No. 769/2009) against the order of the Income Tax
Appellate Tribunal (ITAT) for the Assessment Year 2003-04. The dispute arose
out of...
Commissioner of Income Tax, Delhi-IV vs Escorts Finance Limited (Delhi High Court) – Penalty under Section 271(1)(c) for False Claim under Section 35D of the Income-tax Act
Facts of the CaseThe assessee, Escorts Finance Limited, filed its
return of income declaring income of ₹1,21,03,280. During assessment
proceedings, the Assessing Officer noticed that the assessee had claimed
deducti...
Commissioner of Income Tax vs. Motor & General Finance Ltd. – Whether Leasing and Hire-Purchase Activities Constitute a Financial Company and Credit Institution under Sections 2(5A), 2(5B) & 4(2) of the Interest Tax Act, 1974
Facts of the
Case
Motor & General Finance Ltd. was engaged in hire-purchase,
leasing and allied financing activities.
The assessee did not file returns under the Interest Tax Act, 1974
on the ground ...
Commissioner of Income Tax vs Assessee Company – Whether Expenditure on Tools and Dies Constitutes Revenue Expenditure or Capital Expenditure under the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe Assessing Officer made additions to the income
of the assessee by treating expenditure incurred on tools and dies as capital
expenditure and consequently disallowed the claim of the assessee that t...
Commissioner of Income Tax vs Assessee – Whether Expenditure on Tools and Dies is Revenue Expenditure or Capital Expenditure | Delhi High Court Remands Matter to ITAT for Fresh Adjudication under Income Tax Act, 1961
Facts of the CaseThe Assessing Officer made additions to the
assessee's income by treating expenditure incurred on tools and dies as capital
expenditure. The assessee contended that such expenditure was revenue in natu...
Northern Strips Limited & Another vs Income Tax Officer, Ward 13(3), New Delhi: Delhi High Court Quashes Reassessment Based on Mere Change of Opinion Under Sections 147 and 148
Facts of the Case
The
petitioner company was engaged in the business of cutting and slitting
polyester films and operated an industrial undertaking situated in a
notified backward area at Silvassa.
...
M/s United Exports vs Commissioner of Income Tax, Delhi (Delhi High Court) – Trade Discount to Sister Concern Not Disallowable under Section 40A(2) of the Income Tax Act
Facts of the CaseThe assessee, M/s United Exports, was a
partnership firm engaged in the business of export of rice. For Assessment Year
2004-05, it filed its return declaring total income of Rs. 87,47,807.During the r...
Commissioner of Income Tax, Delhi-XVII vs Business India Television International Ltd. – Reimbursement of Employee Expenses, TDS Liability under Section 192 and Assessee-in-Default under Section 201 | Delhi High Court
Facts of the CaseThe assessee, Business India Television
International Ltd., was engaged in running a news and current affairs
television network. Due to the nature of its business, employees were required
to continuo...