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Director of Income Tax vs. M/s. Mitsubishi Corporation (and M/s. Jacabs Civil Incorporated): Section 234B Interest Deleted for Non-Resident as Tax was Fully Deductible at Source; Retrospective Levy of Section 234D Interest Rejected
Facts of the CaseThe Revenue preferred a batch of appeals under Section 260A of
the Income Tax Act, 1961, challenging a series of concurrent orders passed by
the Income Tax Appellate Tribunal (ITAT) which deleted inter...
Bela Juneja vs Commissioner of Income Tax (Delhi High Court) – Addition under Section 69 for Unexplained Investment in Property Upheld | ITA No. 779/2011
Facts of the Case
A
search and seizure operation under Section 132 of the Income-tax Act was conducted
on 22 September 2005 at the residence of Shri Pravin Juneja.
During
the search, documents relat...
Yamaha Motor India Private Limited vs Assistant Commissioner of Income Tax | Delhi High Court Grants Liberty to Pursue Statutory Appeal Against Reassessment Orders
Facts of the Case
Yamaha
Motor India Private Limited filed writ petitions before the Delhi High
Court concerning reassessment proceedings initiated by the Income Tax
Department.
During
the hea...
Commissioner of Income Tax vs. Ravi Dass Garg & Connected Assessees | Delhi High Court Upholds Deletion of Search Assessment Additions on Identical Facts Following CIT v. Smt. Seema Tripathi
Facts of the CaseA search operation was conducted at the premises of
a group that included the respondent/assessee, Ravi Dass Garg. Pursuant to the
search proceedings, the Revenue made certain additions in the assessme...
Director of Income Tax vs. M/s. Mitsubishi Corporation (and M/s. Jacabs Civil Incorporated): Section 234B Interest Deleted for Non-Resident as Tax was Fully Deductible at Source; Retrospective Levy of Section 234D Interest Rejected
Facts of the CaseThe Revenue preferred a batch of appeals under Section 260A of
the Income Tax Act, 1961, challenging a series of concurrent orders passed by
the Income Tax Appellate Tribunal (ITAT) which deleted inter...
Commissioner of Income Tax vs Assessee (ITA No. 403/2005, ITA No. 404/2005 & ITA No. 737/2009) – Incentive Subsidy as Capital Receipt and Allowability of PF/DLI Payments under Section 43B
Facts of the CaseThe Revenue filed appeals before the Delhi High Court
challenging the order of the Income Tax Appellate Tribunal (ITAT). In ITA No.
403/2005, two substantial questions of law were framed:
Whether
...
Commissioner of Income Tax vs Ankitech Pvt. Ltd. & Connected Matters (Delhi High Court) – Taxability of Deemed Dividend under Section 2(22)(e) in the Hands of a Non-Shareholder Concern
Facts of the CaseA group of appeals before the Delhi High Court
involved a common question regarding the interpretation of Section 2(22)(e) of
the Income-tax Act, 1961.In the lead matter, Ankitech Pvt. Ltd. filed its
...
Commissioner of Income Tax vs Betterways Finance & Leasing Pvt. Ltd. | Additional Evidence under Rule 46A and Validity of Contract Novation under Section 62 of the Contract Act
Facts of the CaseFor Assessment Year 2001-02, Betterways Finance &
Leasing Pvt. Ltd. filed its return declaring income of ₹3,67,26,812.The assessee had obtained loans of ₹4 crores from Enam
Securities Pvt. Ltd....
Mohan Meakin Limited v. Commissioner of Income Tax, Delhi [2011] 2011:DHC:2640-DB (Delhi High Court) – Business Loss on Irrecoverable Trade Advances Allowable as Deduction under Sections 28 and 37 of the Income-tax Act, 1961
Facts of the
CaseThe assessee, Mohan Meakin Limited, was engaged in
the manufacture and sale of liquor, beer, juices, canned products and glass
bottles. During Assessment Year 1986-87, the assessee claimed deduction o...
Commissioner of Income Tax vs. M/s S.T. Micro Electronics Pvt. Ltd. | Delhi High Court Upholds Deduction of MBO Incentive, PF Contribution Paid Within Grace Period & Expense Allocation Methodology [ITA No. 928/2010]
Facts of the CaseThe assessee, M/s S.T. Micro Electronics Pvt. Ltd., operated
two divisions:
A
100% Export Oriented Unit (EOU) at NOIDA engaged in export of software.
A
Sales and Marketing (S&M) Divi...