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Commissioner of Income Tax vs. M/S International Research Park Laboratories Ltd. – Inclusion of Commission Income and Assignment Profits in Business Profits for Determining Deduction Quantum and Export Eligibility under Section 80HHC of the Income Tax Act, 1961
Facts of the Case
The
Revenue Department (Petitioner) filed two reference cases before the High
Court of Delhi concerning the Assessment Years 1990-1991 and 1991-1992.
The
Respondent-Assessee, M/S ...
P.P.C. Business & Products Pvt. Ltd. vs Chief Commissioner of Income Tax: Waiver of Interest Under Sections 234A, 234B & 234C
Facts of
the CaseThe Central Bureau of Investigation (CBI) conducted a raid on
the Petitioner-company's premises on April 1, 2001, and April 3, 2001.The CBI seized the company's books of accounts and other
documents, ...
Public Sector Undertaking v. Assessee | Income Tax Appeal Dismissed for Want of Committee on Disputes (COD) Approval | Delhi High Court | ITA Nos. 1370 & 1371 of 2009 | 2009:DHC:8944-DB
Facts of the CaseThe appellant, a Public Sector Undertaking, filed Income Tax
Appeals before the Delhi High Court.The appellant informed the Court that approval from the
Committee on Disputes (COD) was mandatory before...
Commissioner of Income Tax v. Assessee | Section 115JB – Addition of Provision for Doubtful Debts and Slow-Moving Inventory While Computing Book Profits under MAT | Delhi High Court
Facts of the CaseThe Revenue preferred an appeal before the Delhi High Court
challenging the order of the Income Tax Appellate Tribunal.The dispute related to deletion of additions made by the
Assessing Officer while c...
Commissioner of Income Tax vs Oriental Structural Engineers Pvt. Ltd. | Disallowance under Section 40A(2)(b) Cannot Be Made Without Proving Excessive Payment to Related Parties – Delhi High Court
Facts of the
Case
The assessee was a joint venture consisting of Oriental Structural
Engineers Pvt. Ltd. and Gammon India Ltd.
The joint venture was formed solely for obtaining contracts from
the Nationa...
Commissioner of Income Tax vs M/s International Research Park Laboratories Ltd. | Deduction under Section 80HHC on Commission Income from Export Orders | Delhi High Court
Facts of the Case
The
assessee was engaged in business activities involving export orders.
The
assessee received commission income upon assignment of export orders to
another party in India.
While...
Commissioner of Income Tax vs Gora Mal Hari Ram Ltd. | Delhi High Court | Whether Loss on Bargain Settlement/Wash-Out Contract Constitutes Speculative Transaction under Section 43(5) of the Income-tax Act, 1961
Facts of the
Case
The assessee claimed a loss of ₹13,33,688 arising from bargain
settlement transactions.
The loss comprised:
₹7,46,300 paid to Raj Agro Mills Limited on account of bargain
set...
Rajiv Marda vs Commissioner of Income Tax (Appeals)-I & Anr. | Delhi High Court Remands Addition of ₹60,000 for Fresh Examination
Facts of the
Case
A search operation resulted in the recovery of a document
identified as “Annexure A-10”.
Based on the said document, the Revenue made an addition of ₹60,000
in the hands of the as...
Commissioner of Income Tax v. Respondent-Assessee | Allowability of Bad Debt Deduction under Sections 36(1)(vii) and 36(2) of the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High Court
challenging the order of the Income Tax Appellate Tribunal which had upheld the
order of the Commissioner of Income Tax (Appeals).The dispute con...
P.C. Bhandari & Co. Pvt. Ltd. v. Assistant Commissioner of Income Tax, Circle 14(1) | Section 14A, Section 37(1), Section 57(iii) & Section 71 of the Income Tax Act, 1961 | Business Expenditure Allowability During Dormant Business Period | Delhi High Court
Facts of the CaseThe appellant, P.C. Bhandari & Co. Pvt. Ltd., was engaged
in the business of manufacturing and sale of tents, cotton textiles, jute,
flex, wool, silk, ready-made garments and was also authorized un...