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Commissioner of Income Tax vs [Assessee Name] – Delhi High Court Dismisses Income Tax Appeals Due to Low Tax Effect | ITA No. 1468/2010 & ITA No. 1609/2010
Facts of the
Case
The Revenue preferred appeals before the Delhi High
Court against the order passed by the Income Tax Appellate Tribunal. During the
hearing, the Court observed that the tax effect involved in the ...
Commissioner of Income Tax vs [Assessee Name] – Delhi High Court Dismisses Income Tax Appeals Due to Low Tax Effect | ITA No. 1468/2010 & ITA No. 1609/2010
Facts of the
CaseThe Revenue preferred appeals before the Delhi High
Court against the order passed by the Income Tax Appellate Tribunal. During the
hearing, the Court observed that the tax effect involved in the appe...
Director of Income Tax vs. Brahamputra Capital Financial Services Ltd. | Interest on NPA Not Taxable on Accrual Basis for NBFCs under RBI Prudential Norms | Delhi High Court
Facts of the Case
The assessee, Brahamputra Capital Financial Services Ltd.,
was a registered Non-Banking Financial Company (NBFC).
The assessee had advanced interest-bearing loans aggregating to
approxim...
Director of Income Tax vs Brahmaputra Capital Financial Services Ltd. (2011) – Taxability of Interest on Non-Performing Assets (NPA) of NBFC under Section 5 of the Income Tax Act | Delhi High Court
Facts of the CaseThe assessee, Brahmaputra Capital Financial
Services Ltd., a Non-Banking Financial Company (NBFC), had advanced loans
amounting to approximately ₹13.58 crores to certain group concerns. These loans
...
Director of Income Tax vs Brahmaputra Capital Financial Services Ltd. (2011) – Interest on NPA Loans of NBFC Not Taxable on Accrual Basis under Section 5 of the Income Tax Act | Delhi High Court
Facts of the CaseThe assessee, Brahmaputra Capital Financial
Services Ltd., a Non-Banking Financial Company (NBFC), had advanced loans
aggregating approximately ₹13.57 crores to certain group concerns. The loans
wer...
M/s J.K. Synthetics Ltd. vs Commissioner of Income Tax (Delhi High Court) – Deductibility of Guest House Expenses, Abandoned Project Expenditure, Foreign Travel Expenses, Retainership Fees and Interest Liability under the Income-tax Act, 1961
Facts of the Case
The assessee, M/s J.K. Synthetics Ltd., claimed various deductions
and allowances while computing its taxable income for Assessment Year
1984-85.
The Income Tax Appellate Tribunal (ITAT)...
Commissioner of Income Tax v. M/s J.K. Synthetics Ltd. | Delhi High Court | Revenue vs Assessee on Revenue vs Capital Expenditure, Interest on Borrowed Funds for Share Investments, Cops Deposit Write-Back & Business Expenditure under Sections 36(1)(iii) and 37 of the Income-tax Act
Facts of the Case
The assessee, M/s J.K. Synthetics Ltd., was engaged in the business
of manufacturing and dealing in yarn.
During Assessment Year 1984-85, the assessee claimed deductions
relating to:
...
Commissioner of Income Tax Delhi-IV vs HLS India Ltd. (2011) – Industrial Undertaking, Section 32A & 80-IA/80-IB, Depreciation Claim on Wireline Logging Equipment
Facts of the Case:
Assessee:
M/s HLS India Ltd. (now HLS Asia Ltd.), an oilfield
services company providing petro-physical and completion solutions.
Revenue:
Commissioner of Income Tax, Delhi-IV.
...
Commissioner of Income Tax vs Ashok Kumar Arora – Delhi High Court (ITA No. 713 of 2010) I Section 132 – Search and seizure under Income Tax Act, 1961
Facts of the Case:The appeal concerns the deletion of certain additions made
by the Assessing Officer (AO) in the taxpayer's assessment. The AO had relied
on unproduced books of account and documents recovered during s...
Sunil Sharma vs Income Tax Officer – Belated Notice under Section 143(2) & 142(1) of the Income Tax Act, 1961
Facts of the Case
The
Tribunal had set aside an assessment on the ground that the notice under
Section 143(2) of the Income Tax Act was served belatedly, beyond the
prescribed one-year limitation.
U...