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Commissioner of Income Tax vs. Denso Haryana Pvt. Ltd. [2010] 2010:DHC:2465-DB (Delhi High Court) Section 263 Cannot Be Invoked to Recompute Book Profit Under Section 115JB Beyond Statutory Adjustments – Audited Profit & Loss Account Is Binding | Delhi High Court
Facts of the CaseDenso Haryana Pvt. Ltd., a wholly owned subsidiary
of Denso Corporation, Japan, was engaged in the business of manufacturing and
trading gasoline engine management systems.For Assessment Year 200...
Commissioner of Income Tax vs. HPS Social Welfare Foundation [2010] 2010:DHC:2456-DB (Delhi High Court) Exemption Under Sections 11 & 12 Cannot Be Denied Without Proving Violation of Section 13 – Charitable Donations to Genuine NGOs Held Valid | Delhi High Court
Facts of the CaseHPS Social Welfare Foundation was established with
charitable objectives including:
Providing
fees, books, equipment and scholarships to needy students;
Assisting
mentally challeng...
Commissioner of Income Tax v. Asian Hotels Ltd. [Delhi High Court] – Exclusion of Money-Changing Receipts from Total Turnover for Deduction under Section 80HHD of the Income Tax Act
Facts of the Case
The respondent-assessee, Asian Hotels Ltd., was engaged in the
hotel business and was eligible for deduction under Section 80HHD of the
Income Tax Act, 1961.
For Assessment Year 1998-99,...
Commissioner of Income Tax, Delhi-V vs. Punj Lloyd Ltd. [2010] 2010:DHC:2487-DB (Delhi High Court) Section 80HHB Deduction Cannot Be Reduced by Ad Hoc Allocation of Head Office Expenses to Foreign Projects Without Evidence – Matter Remanded for Rational Computation | Delhi High Court
Facts of the CaseThe appeal related to Assessment Year 2003-04.Punj Lloyd Ltd. claimed deduction under Section
80HHB in respect of profits earned from foreign projects.During assessment proceedings, the Assessing
...
Commissioner of Income Tax vs. Safetag International India Pvt. Ltd. – Reassessment Proceedings Cannot Be Set Aside Merely Because Assessee Failed to Seek Reasons Recorded Under Section 148 | Delhi High Court
Facts of the
CaseThe appeals related to Assessment Years 1996-97 and
1997-98. The Assessing Officer (AO) reopened the assessments under Sections 147
and 148 read with Section 142(1) of the Income-tax Act, 1961, based ...
Commissioner of Income Tax, Delhi-V vs. Punj Lloyd Ltd. [2010] 2010:DHC:2485-DB (Delhi High Court) Deduction Under Section 80HHB Requires Rational Allocation of Head Office Expenses to Foreign Projects – Ad Hoc Disallowance Not Sustainable | Delhi High Court
Facts of the CaseThe dispute related to Assessment Years 2003-04
and 2004-05.The assessee, Punj Lloyd Ltd., claimed deduction
under Section 80HHB in respect of profits earned from foreign projects.During assessme...
Commissioner of Income Tax vs. CL RAE [2010] 2010:DHC:2491-DB (Delhi High Court) No Rectification Under Section 254(2) for Issues Already Conceded Before Tribunal – Only Apparent Errors Can Be Corrected | Delhi High Court
Facts of the CaseThe respondent assessee, CL RAE, was employed with
G.E.C. Turbine Generators India Ltd. (GECATGL) as an Assistant in Mechanical
Commissioning at its Rihand project site.For Assessment Year 1990-9...
Commissioner of Income Tax vs Assessee – Exemption under Sections 11 & 12 of the Income-tax Act Upheld; Revenue Appeals Dismissed by Delhi High Court
Facts of the CaseThe Revenue preferred appeals before the Delhi High
Court challenging the grant of exemption under Sections 11 and 12 of the
Income-tax Act, 1961 to the assessee. The issue involved in the present appe...
Commissioner of Income Tax vs. Salora International Ltd. [2010] 2010:DHC:2509-DB (Delhi High Court) MAT Credit Under Section 115JAA Must Be Allowed Before Levy of Interest Under Sections 234B & 234C – Debatable Issue Cannot Be Rectified Under Section 154 | Delhi High Court
Facts of the CaseSalora International Ltd. was granted MAT Credit
under Section 115JAA while processing its return.An intimation under Section 143(1) dated
29.09.2000 resulted in a refund being granted to the ass...
St. Lawrence Educational Society (Regd.) & Another vs Commissioner of Income Tax Delhi (Central) & Another | Section 10 | Delhi High Court
Facts of the
CaseThe petitioners, namely St. Lawrence Educational
Society (Regd.) and The Baptist Educational Society, were societies registered
under the Societies Registration Act, 1860 and were engaged in imparting...