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Commissioner of Income Tax vs. Shashi Charla [2010] 2010:DHC:2572-DB (Delhi High Court) I Capital Gains on Sale of Company-Owned Property Cannot Be Assessed in Hands of Directors Under Section 49(1) Based on Family Arrangement – Delhi High Court
Facts of the CaseThe property situated at C-101, Maya Puri
Industrial Area, Delhi, measuring approximately 2829 square yards, was
acquired on 17.01.1966 by Ambitious Gold Nibs Company Private Limited
from the Delhi De...
Cyber Media (India) Ltd. Vs. Commissioner of Income Tax-I & Another | Section 145(1) & Section 209 | (Delhi High Court)
Facts of the CaseThe assessee, Cyber Media (India) Ltd., was engaged
in the business of publishing magazines including Data Quest and PC World. The
company earned income from subscriptions, sale of magazines, advertise...
Director of Income Tax vs. Galileo International Inc. & Connected Appeals – Delhi High Court Reaffirms Earlier Precedent; Revenue Appeals Dismissed
Facts of the
CaseThe Revenue preferred multiple Income Tax Appeals
before the Delhi High Court. The principal issue raised in these appeals had
already been examined and decided by the Delhi High Court in Director of
...
Commissioner of Income Tax vs. SIL Investments Ltd. | Reassessment under Section 147 Cannot Be Reopened Beyond Four Years Solely Due to Retrospective Amendment to Section 80HHC – Delhi High Court
Facts of the
CaseThe assessee, SIL Investments Ltd., had filed its
income tax returns and the assessments were originally completed under the
provisions of the Income-tax Act.Subsequently, Section 80HHC was amended
r...
CIT vs M/s Vardhman Industries Ltd – Income Tax Appeal under Section 194 of the IT Act, 1961
Facts
of the Case
The appeals were
filed by the Income Tax Department (Revenue) against a
group of assessees, including Ravi Dass Garg.
The dispute arose from additions
made by the Assessing O...
Director of Income Tax vs. Galileo International Inc. | Delhi High Court Dismisses Revenue Appeals Following Binding Precedent | ITA Nos. 900, 901, 902, 903, 904 & 905 of 2008
Facts
of the Case1.
The
Revenue preferred multiple appeals before the Delhi High Court being ITA Nos.
900, 901, 902, 903, 904 and 905 of 2008.2.
During
th...
Commissioner of Income Tax vs. Sahara India Mass Communication: Deletion of Income Tax Additions on Account of Excessive Newsprint Wastage Book Results and Admission of Additional Ground of Expenditure
Facts
of the Case·
The
assessee, M/s Sahara India Mass Communication, filed its original return of
income for the Assessment Year (AY) 1994-95, declaring a loss of ₹...
Commissioner of Income Tax vs. Shri Naresh Kumar Aggarwala (Delhi High Court) – Seized Fax Message Held Sufficient Evidence of Undisclosed Investment; Presumption under Section 132(4A) Upheld
Facts of the
CaseThe respondent-assessee was engaged in stock
broking and other income-generating activities. A survey was conducted on
16.10.1992 followed by a search operation on 23.10.1992, during which certain
do...
Commissioner/Director of Income Tax (Revenue) vs. Assessee (Respondent) – Following Director of Income Tax vs. Galileo International Inc. [224 CTR 251]
Facts of the
CaseThe Revenue preferred multiple appeals before the
Delhi High Court raising issues concerning the taxability of income in India.
The controversy involved questions that had already been adjudicated by ...
Export Promotion Council for Handicrafts v. DGIT (Exemptions) | Section 10(23C)(iv) Exemption Denied For Violation of Section 11(5) Rectified Post High Court Intervention – Landmark Delhi High Court Ruling on Retrospective Compliance of Revised Applications
Facts
of the Case·
The
petitioner, Export Promotion Council for Handicrafts, applied for a tax
exemption under Section $10(23C)(iv)$ of the Income Tax Act,
1961, for ...