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Nimitya Properties Ltd. and Nimitya Promoters Ltd. Vs. Commissioner of Income Tax & Others – Scope of Provisional Attachment of Property Under Section 281B of Income Tax Act, 1961 During Search and Seizure Actions Under Section 132 Following Sukhpal Singh (HUF) Precedent
Facts of the Case
The
petitioners, Nimitya Properties Ltd. and Nimitya Promoters Ltd.,
belong to the same business group.
An
Income Tax search and seizure operation under Section 132 was carried ou...
Commissioner of Income Tax Vs. [Assessee]: A Comprehensive Study on Section 260A and the High Court’s Framework for Dismissal of Revenue Appeals Based on Low Tax Effect and CBDT Monetary Limits
Facts of the Case
The
Revenue preferred an appeal (ITA No. 336/2007) before the High Court of
Delhi against an order passed by the lower appellate authorities.
The
Assessee concurrently preferred a...
Assessee vs. Respondent– Delhi High Court Directs Expeditious Disposal of Section 245(2) Cr.P.C. Application and Grants Exemption from Personal Appearance
Facts of the CaseThe petitioner had filed Criminal Miscellaneous Case No.
311/2010 before the Delhi High Court. During the hearing, learned counsel for
the petitioner sought permission to withdraw the petition and requ...
Penguin Books India Private Limited vs. Commissioner of Income Tax: Validity of Reassessment Proceedings and Computation of Section 80-O Deduction on Foreign Exchange Receipts
Facts of the Case
For
the Assessment Year 1994-95, the assessee filed its return of income
declaring an income of ₹17,64,090/-, and the initial assessment was
finalized under Section 143(3) on Janua...
Commissioner of Income Tax Delhi-V vs Punj Lloyd Ltd. | Reassessment Proceedings under Sections 147/148 of the Income-tax Act – Appeals Dismissed by Delhi High Court
Facts of the Case
The
assessee was served with a notice under Section 148 of the Income-tax Act,
1961.
Pursuant
to the notice, reassessment proceedings were initiated and reassessment
orders w...
Commissioner of Income Tax vs. Penguin Books India (Pvt.) Ltd.: Computation of Section 80-O Deduction on Net vs. Gross Foreign Receipts and the Validity of Unsubstantiated Reassessment Additions
Facts of the Case
For
the Assessment Year 1994-95, the assessee (Penguin Books India Pvt. Ltd.)
filed its return of income declaring a total income of ₹17,64,090/-.
The
original assessment was co...
Commissioner of Income Tax vs The Basti Sugar Mills Co. Ltd. | Interest on Delayed Provident Fund Deposit Cannot Be Disallowed Under Section 143(1)(a) When Issue is Debatable | Delhi High Court
Facts of the Case• The assessee had claimed deduction of interest payable on
delayed deposit of Provident Fund contributions.• The Assessing Officer, while processing the return under
Section 143(1)(a) of the Incom...
Commissioner of Income Tax vs. Shriram Pistons & Rings Limited: Eligibility of Royalty, Foreign Technician Fees as Revenue Expenditure and Treatment of Interest Income under Section 80HHC of the Income Tax Act
Facts of the CaseThe assessee, M/s Shriram Pistons & Rings Limited, filed
its income tax return claiming deductions under Section 80HHC of the Income Tax
Act, 1961. During the assessment proceedings, the Assessing ...
Commissioner of Income Tax vs. ECS Limited | Penalty under Section 271(1)(c) on Wrong Claim of Deduction under Section 80-O – Delhi High Court
Facts of the CaseThe respondent-assessee, ECS Limited, was engaged in providing
consultancy services to foreign clients and earned income in convertible
foreign exchange. The assessee claimed deduction under Section 80...
Commissioner of Income Tax vs. Ram Chander Soni (M/s R.C. Jewellers): Validity of Deletion of Unexplained Investment Addition Based on Statement Section 132(4) of Income Tax Act
Facts of the Case
The
Revenue preferred an appeal before the High Court of Delhi against the
order of the Income Tax Appellate Tribunal (ITAT), which had upheld the
findings of the Commissioner of Inc...