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Commissioner of Income Tax v. K.P. Verghese - Addition Based Solely on DVO Valuation Report Cannot Be Sustained Without Independent Evidence | Section 69 | Delhi High Court
Facts of the Case
The
assessee filed the return of income for Assessment Year 2005-06.
The
assessee disclosed the purchase cost of a property at ₹6,00,000 as
recorded in the sale deed and books of...
Commissioner of Income Tax vs. Winstral Petrochemicals Pvt Ltd | Section 68 Income Tax Act – Deletion of Unexplained Cash Credit on Share Application Money Received via Banking Channels
Facts
of the Case·
The
Assessee company filed its income tax return for the Assessment Year 2004-05
declaring an income of ₹2,20,880. The case was initially processe...
Commissioner of Income Tax vs. Galileo International Inc. (ITA Nos. 900-905/2008): Scope of Income Accrual in India under Section 5 & Section 9
Facts of the Case
The
Revenue filed a series of connected appeals (ITA Nos. 900, 901, 902, 903,
904, and 905/2008) against the Assessee before the Hon'ble High Court of
Delhi.
The
dispute per...
Commissioner of Income Tax vs. Ranbaxy Holdings Company: Scope of Rectification Under Section 154 for Deletion of Capital Gains Adjustments
Facts
of the CaseThe assessee, Ranbaxy Holdings
Company, filed its return of income for the Assessment Year 1998-1999,
disclosing the disposal of 75,600 equity shares of Ranbaxy Laboratories Limited
(RLL). For comput...
Director of Income Tax v. Amadeus IT Group SA: Taxability of Global CRS Booking Fees Under Section 9(1)(i) of the Income Tax Act, 1961Case Overview & Direct Link
Facts of the Case
Nature
of Business: The respondent/assessee is an international
organization specializing in providing a Global Computer Reservation
System (CRS). This centralized software system en...
Income Tax Officer vs. M/s Delhi Iron Works (Pvt.) Ltd. | Delhi High Court | Section 276-B Income Tax Act | Company’s Criminal Liability for Failure to Deposit TDS Despite Acquittal of Director
Facts of the CaseThe respondent company, M/s Delhi Iron Works (Pvt.) Ltd.,
was accused of failing to deduct and deposit Tax Deducted at Source (TDS) on
interest payments made to various companies within the prescribed ...
Director of Income Tax vs. Galileo International Inc. | Profit Attribution and Expense Apportionment under Section 9(1)(i) of the Income-tax Act
Facts of the Case
The
appellant (Assessee) filed cross-appeals across multiple assessment years
regarding tax liabilities tied to business operations carried out within
India.
The
subordinate...
Contractual Rent vs. Court-Mandated Interim Rent: Delhi HC on Why Arrears Cannot Be Spread Back Under Section 23 and Section 25B | CIT vs. R.J. Wood Pvt. Ltd.
Facts of the Case
The
assessee (respondent), R.J. Wood Pvt. Ltd., leased out its premises to
five tenants under lease agreements starting October 1992 at a mutually
agreed contractual rent.
A
...
Commissioner of Income Tax vs. Agra Beverages Corporation P. Ltd.: Deductibility of Cooler Hire Charges and Brand Advertisement Expenses under Section 37(1) of the Income Tax Act
Facts of the Case
The
Assessee's Business: Agra Beverages Corporation P. Ltd.
(the Assessee) operated as a franchisee of M/s. Pepsi Food (Pvt.) Ltd.
(Pepsi). Under this Franchisee Agreement, the Asses...
The Commissioner of Income-Tax-V vs. R.J. Wood Pvt. Ltd.: Taxability of Disputed Rent Arrears and ALV Determination Under Section 23 and Section 25B of the Income-Tax Act
Facts of the CaseThe assessee, R.J. Wood Pvt. Ltd., owned a multi-storied
property let out to five tenants under lease agreements starting in October
1992. A dispute arose regarding whether the mutually agreed contract...