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Commissioner of Income Tax, Delhi-II vs. Maharashtra Seamless Ltd. | Sections 80HHC, 80-IA & 80-IB – DEPB Benefits, Delayed Payment Interest, Business Income and Section 263 Revision – Delhi High Court
Facts of the CaseMaharashtra Seamless Ltd. claimed deductions under Sections
80HHC, 80-IA and 80-IB in respect of various categories of income.The disputes before the Court arose from several assessment
years and invol...
Commissioner of Income Tax vs Aero Traders (P) Ltd. | Penalty under Section 271(1)(c) Cannot Be Levied on Estimated Additions – Delhi High Court
Facts of the CaseThe assessee company was engaged in the business of
manufacturing and exporting shoe uppers, primarily to the erstwhile USSR.
Following the disintegration of the USSR, the assessee suffered substantial...
D.T. & T.D.C. Ltd. v. Assistant Commissioner of Income Tax [Delhi High Court] – Reassessment under Sections 147/148 Invalid on Mere Change of Opinion
Facts of the CaseThe Government of National Capital Territory of Delhi
authorized Delhi Tourism & Transportation Development Corporation Limited
(DTTDC) to operate liquor vends throughout Delhi.Under Government dir...
CIT vs ACC Rio Tinto Exploration Ltd. [2010] 2010:DHC:505-DB (Delhi High Court) – Applicability of Section 35E Where No Commercial Production of Minerals Exists
Facts of the Case
The
assessee company was engaged in the business of prospecting and
exploration of ores and minerals.
The
assessee filed its return declaring a loss of ₹3,00,52,260.
During
...
Commissioner of Income Tax vs. Flour Daniel India Pvt. Ltd. | Software Licence Royalty Payments Held Revenue Expenditure under Sections 37(1), 32 and 9(1)(vi) of the Income Tax Act – Delhi High Court
Facts of the CaseFlour Daniel India Pvt. Ltd. was engaged in the business of
preparing engineering designs and drawings for projects undertaken by group
entities.For execution of its assignments, the assessee utilised
...
Commissioner of Income Tax-VI vs Ultimate Fashion Maker Ltd. | No Penalty under Section 271(1)(c) Where DEPB Deduction Claim Under Section 80-IB Was a Debatable Issue: Delhi High Court
Facts of the Case
The
assessee claimed deduction under Section 80-IB of the Income Tax Act, 1961
in respect of income arising from the Duty Entitlement Pass Book (DEPB)
Scheme.
The
Assessing O...
Commissioner of Income Tax vs. Flour Daniel India Pvt. Ltd. | Software Licence Royalty Expenditure Allowable as Revenue Expenditure under Sections 37(1) and 32 of the Income Tax Act – Delhi High Court
Facts of the CaseThe assessee, Flour Daniel India Pvt. Ltd., was engaged in
preparing engineering designs and drawings for projects allotted by group
entities.For carrying out its business activities, the assessee used...
Commissioner of Income Tax, Delhi-I vs. Bharat Rasayan Ltd. | Section 80-IA Deduction on Interest from Trade Debtors, FDR Interest, DEPB Benefits and Duty Drawback Receipts – Delhi High Court
Facts of the CaseBharat Rasayan Ltd., an industrial undertaking engaged in
manufacturing activities, claimed deductions under Section 80-IA on various
receipts arising during the course of its business.The assessee cla...
Commissioner of Income Tax (Central)-I, New Delhi vs. Anil Bhalla | Addition under Section 69C Cannot Be Sustained Solely on Loose Papers Without Corroborative Evidence – Delhi High Court
Facts of the Case
A
search and seizure operation under the Income Tax Act was conducted on
10.02.2000 at the premises of Shri Anil Bhalla and M/s Vatika Township
Pvt. Ltd. (VTPL).
During
the s...
CIT vs. AIMIL Limited: Allowability of Late Provident Fund (PF) and ESI Contributions under Section 36(1)(va) vs. Section 43B of the Income Tax Act, 1961
Facts of the CaseThe leading case pertains to the Assessment Year (AY)
2002-03. The respondent-assessee (M/s. AIMIL Limited) filed its return of
income on October 30, 2002. During the assessment proceedings, the Assess...