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Sh. Dinesh Kumar Goel v. Commissioner of Income Tax – Allowability of Genuine Business Expenditure Claimed Through Revised Return Cannot Be Denied Merely Because Bills Were Not Ledgerized | Delhi High Court
Facts of the
CaseThe assessee filed his original return for
Assessment Year 1997-98 declaring taxable income and claiming deduction of
advertisement expenditure.Subsequently, a search under Section 132(1) of the
Inco...
Director of Income Tax vs. M/s. Jacabs Civil Incorporated (and M/s. Mitsubishi Corporation): Section 234B Interest Deleted for Non-Resident Assessees as Tax is Fully Deductible at Source; Section 234D Interest Prohibited Retrospectively
Facts of the CaseThe Revenue preferred a batch of tax 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 i...
Commissioner of Income Tax v. Ram Kishan Dass & Connected Matters – Limitation for Completion of Assessment under Section 153A of the Income-tax Act, 1961 – Delhi High Court Dismisses Revenue Appeals Following CIT v. Bishan Saroop Ram Kishan Agro Pvt. Ltd.
Facts of the Case
The
Revenue filed multiple appeals against the orders passed in favour of the
assessees, namely Ram Kishan Dass and Sunder Exports.
The
principal issue involved the validity and li...
CIT v. Assessee (ITA No. 541/2010) – Delhi High Court | Penalty under Section 271(1)(c) Cannot Be Levied on Bona Fide Claims Relating to Royalty, Sales Tax Interest and Additional Sales Tax
Facts of the
CaseThe Assessing Officer initiated penalty proceedings
after making additions/disallowances on the following grounds:1. Royalty
Payment DisallowanceThe assessee had claimed deduction of royalty
expendit...
M/s J.K. Synthetics Ltd. vs Commissioner of Income Tax | Delhi High Court | AY 1982-83 | Section 40(c), Section 41(1) & Business Expenditure Disallowance
Facts of the CaseThe present reference before the Delhi High Court arose from
Assessment Year 1982-83 involving M/s J.K. Synthetics Ltd. and the Commissioner
of Income Tax. The Income Tax Appellate Tribunal (ITAT) had ...
Commissioner of Income Tax vs. Ankitech Pvt. Ltd. & Others (Delhi High Court) – Deemed Dividend under Section 2(22)(e) Taxable Only in Hands of Shareholder and Not Concern Receiving Loan
Facts of the CaseThe assessees in the batch of appeals had received
loans, advances, or book-entry credits from closely held companies. The common
feature in all cases was that certain individuals who held substantial
...
M/s J.K. Synthetics Ltd. vs Commissioner of Income Tax (Delhi High Court) – Disallowance under Section 40C and Related Income Tax Deductions
Facts of the CaseThe assessee, M/s J.K. Synthetics Ltd., claimed various
deductions and expenditures in its return for the Assessment Year 1982-83.The disputes pertained to:
Disallowance
of Rs. 3,65,000/- under ...
Commissioner of Income Tax & Another vs. M/s J.K. Synthetics Ltd. & Another | Delhi High Court on Sections 41(1), 35(2)(ia), 35(1)(iv) & 37(4) of the Income-tax Act, 1961
Facts of the CaseThe dispute pertained to Assessment Year 1982-83. The
Revenue challenged the order of the Income Tax Appellate Tribunal (ITAT) on
four substantial questions of law involving:
Taxability
of liab...
Commissioner of Income Tax v. Bishan Saroop Ram Kishan Agro Pvt. Ltd., ITA Nos. 1775/2010, 1776/2010, 1777/2010, 1965/2010, 2032/2010 to 2039/2010, 2046/2010 & 2047/2010 (Delhi High Court, decided on 27.05.2011)
Facts of the CaseThe assessee, Bishan Saroop Ram Kishan Agro Pvt. Ltd., filed
returns for various assessment years. A search and seizure operation under the
Income Tax Act, 1961 was conducted on 7 October 2004 an...
Commissioner of Income Tax vs. Tulip Star Hotels Ltd. | Delhi High Court | Bad Debt Deduction under Sections 36(1)(vii), 36(2) and Applicability of Section 35D of the Income-tax Act, 1961
Facts of the
CaseAssessment
Year 1998-99The assessee, an NBFC engaged in financing and
leasing activities, had placed a fixed deposit of ₹100 lakhs with Citibank
during the financial year 1994-95. The deposit was p...