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Commissioner of Income Tax vs ECS Limited | Delhi High Court Upholds Penalty u/s 271(1)(c) for Incorrect Claim of Deduction under Section 80-O
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 - V vs. Rail Track India Ltd. | Comprehensive Analysis on the Taxability of Income, Commercial Expediency, and Business Deductions under Section 37(1) of the Income Tax Act, 1961
Facts of the CaseThe appellant, representing the Revenue department
(Commissioner of Income Tax - V), initiated statutory appellate proceedings
under Section 260A of the Income Tax Act, 1961, challenging a prior order
...
Commissioner of Income Tax, Delhi-II vs Khaitan Chemicals & Fertilizers Ltd. | Delhi High Court on Allowability of Unreceived Subsidy as Business Expenditure under Section 37(1) of the Income-tax Act, 1961
Facts of the CaseThe assessee, engaged in the business of selling fertilizers,
had provisionally accounted for subsidy receivable from the Government.
Subsequently, upon communication of the final subsidy rates by the ...
The Commissioner of Income Tax, Delhi-III vs. M/s Seagram Distilleries Ltd. | Assessing Officer Cannot Reduce WDV Based on Hypothetical Depreciation under Section 32
Facts of the Case
The
Revenue preferred an appeal against the decision of the Income Tax
Appellate Tribunal (ITAT) concerning the appropriate extent of
depreciation to be allowed to the assessee for t...
Commissioner of Income Tax, Delhi-II vs. M/s Kishori Lal Construction Ltd. (with ITA 633/2008 & ITA 467/2008): Scope of Section 68 of the Income Tax Act on Realization of Past Debt and Discharge of Initial Onus of Proof in Unexplained Cash Credits.
Facts of the Case
Business
Profile: The respondent-assessee is a corporate
entity engaged in the purchase and sale of iron, steel, and corporate
shares.
Assessment
Year & Notice: For the ...
Commissioner of Income Tax vs. M/s Seagram Distilleries Ltd. | No Reduction in WDV Based on Hypothetical, Unclaimed Depreciation Under Section 32
Facts of the Case
The
present appeal was preferred by the Revenue (Income Tax Department)
against the decision of the Income Tax Appellate Tribunal (ITAT)
concerning the assessment year 2002-03.
Th...
Rahulijee & Company Pvt. Ltd. vs. Income Tax Appellate Tribunal & Ors. — Maintainability of Writ Petition Under Article 226 of the Constitution of India Against Income Tax Appellate Tribunal (ITAT) Orders when Alternative, Adequate, and Equally Efficacious Statutory Remedy by Way of Appeal Under Section 260A of the Income Tax Act, 1961 is Available.
Facts of the Case
The
petitioner, Rahulijee & Company Pvt. Ltd., filed an appeal before the
Income Tax Appellate Tribunal (ITAT) for the assessment year 1988-89
concerning several disputed additio...
Commissioner of Income Tax vs. M/s Jackson Engineers Limited: Whether the Technical and Manual Assembly of Diesel Generating Sets from Pre-Procured Components Qualifies as a Distinct "Manufacturing Activity" and the Determination of Nexus for Incidental Business Income under Section 80IA of the Income Tax Act, 1961
Facts of the Case
The
assessee, M/s Jackson Engineers Ltd., carries on the business of
assembling diesel generating (DG) sets at its various industrial units,
including a specific unit under reference...
Commissioner of Income Tax-VIII, New Delhi vs Anupam Sweets | Section 158BD Proceedings Invalid Without Recorded Satisfaction | Delhi High Court
Facts of the CaseA search under Section 132 of the Income-tax Act, 1961 was
conducted at the residential premises of Shri R.K. Gupta, Shri Devender Gupta
and M/s Chintpurni Constructions Pvt. Ltd.The block assessment o...
Commissioner of Income Tax vs. AIMIL Limited (with Nirmala Swami vs. Commissioner of Income Tax & M/s. Ekta Agro Industries Ltd. vs. Income Tax Officer) – Whether Delayed Employees' and Employers' Contributions to Provident Fund (PF) and Employees' State Insurance (ESI) are Allowable Deductions Under Section 36(1)(va) Read With Section 43B of the Income Tax Act, 1961 If Paid Before the Due Date of Filing Return Under Section 139(1)
Facts of the Case
The
present case emerged from a batch of appeals involving different
assessees. Because the core legal issues and interpretations under Section
36(1)(va) were identical, the Hon’bl...