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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...
Commissioner of Income Tax vs. Jyoti Limboo (Prop. M/s Jyoti & Co.) | Validity of Search Warrant Issued by Additional Director under Section 132 of the Income-tax Act after Retrospective Amendment
Facts of the
CaseThe appeals arose from a common order passed by the
Income Tax Appellate Tribunal (ITAT) concerning the block assessment period
from 1 April 1989 to 23 June 1999. The assessee challenged the validity ...
Assessee v. Income Tax Department – Challenge to Section 148 Reopening Notice after Assessment Order | Delhi High Court | 2009:DHC:8096-DB
Facts of the CaseThe petitioner filed a writ petition before the Delhi High
Court challenging the validity of a notice issued under Section 148 of the
Income Tax Act, 1961.During the course of hearing, counsel appearin...
The Principle of Interest Netting under Section 80HHC: A Case Analysis of Commissioner of Income Tax v. M/s. Sharda Exports (ITA No. 1269/2009)
Facts of the CaseThe Revenue (Appellant) preferred an appeal before the Hon’ble
High Court of Delhi challenging the decision rendered by the Income Tax
Appellate Tribunal (ITAT). The dispute stemmed from the assessme...