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Commissioner of Income Tax vs. M/s National Travel Services | Deemed Dividend under Section 2(22)(e) – Loan to Partnership Firm Holding Beneficial Interest in Shares
Facts of the CaseM/s National Travel Services, a partnership firm,
had received loans/advances from M/s Jetair Pvt. Ltd. The firm consisted of
three partners, namely Mr. Naresh Goyal, Mr. Surinder Goyal and another
pa...
National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) v. Commissioner of Income Tax – Whether Interest on Arbitral Damages Can Be Claimed as Deduction Before Liability Crystallizes | Delhi High Court
Facts of the
CaseNational Agricultural Cooperative Marketing
Federation of India Ltd. (NAFED), a registered cooperative society engaged in
marketing agricultural produce and carrying on commercial activities, entered
...
Indglonal Investment & Finance Ltd. & Anr. vs Income Tax Officer, Ward No. 11(4), New Delhi & Ors. and M/s Taksal Theaters Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. (Delhi High Court)
Facts of the
CaseTwo writ petitions involving tax refund claims were
heard together by the Delhi High Court as both raised substantially similar
legal issues.Case 1 –
Indglonal Investment & Finance Ltd.The peti...
Commissioner of Income Tax, Delhi-IV vs IFCI Ltd. (Formerly Industrial Finance Corporation of India Ltd.) – Deduction under Section 36(1)(viii) Cannot Be Denied Merely Because Part of Special Reserve Was Transferred Before Amendment
Facts of the
CaseThe assessee, Industrial Finance Corporation of
India Ltd. (IFCI), a Government of India undertaking engaged in long-term
financing activities, claimed deduction of ₹12,906.18 lakhs under Section
3...
Commissioner of Income Tax-XIII, New Delhi vs Airport Authority of India & Trans Bharat Aviation Pvt. Ltd. – TDS on Airport Charges, Rent, Parking Charges and Interest Liability under Sections 194-I & 201(1A) of the Income-tax Act
Facts of the CaseThe assessee, Trans Bharat Aviation Pvt. Ltd., was engaged in
the business of operating air taxi services. During assessment proceedings, the
Revenue found that the assessee had made payments to the Ai...
Commissioner of Income Tax-II v. Munjal Showa Ltd. [2010] 2010:DHC:4350-DB (Delhi High Court) – Expenditure on Technical Know-How, Design & Drawing Fees and Foreign Technician Training Held as Revenue Expenditure under the Income-tax Act, 1961
Facts of the CaseMunjal Showa Ltd., engaged in the manufacture of shock
absorbers for automobiles, entered into a technical collaboration arrangement
with Showa Corporation, Japan. Under the arrangement, the Japanese c...
Commissioner of Income Tax v. Registered Charitable Trust (Assessee) – Reassessment under Sections 147/148 and Addition under Section 68 on Alleged Accommodation Entries – Delhi High Court
Facts of the CaseThe respondent-assessee was a charitable organization duly
registered under Section 12A of the Income-tax Act, 1961 and was claiming
exemption under Section 11. It filed its return declaring Nil income...
Commissioner of Income Tax-II v. Munjal Showa Ltd. (2010) 2010:DHC:4349-DB | Design & Drawing Fees and Foreign Technical Training Expenses Held as Revenue Expenditure under the Income Tax Act, 1961
Facts of the CaseMunjal Showa Ltd., engaged in the manufacture of shock
absorbers for automobile vehicles, incurred expenditure towards:
Design
and drawing charges payable to M/s Showa Corporation, Japan; and
...
M/s Hansalaya Properties & Mrs. Pushpa Vadera vs Commissioner of Income Tax, Delhi – Valuation of Capital Asset Introduced into Partnership Firm as Capital Contribution under Section 256(2) of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe leasehold land situated at 15-Barakhamba Road, New Delhi,
originally belonged to the partnership firm M/s Naraindass Hansraj. Upon
dissolution of that firm, the leasehold land came to the share of ...
Deductibility of Settlement Payments for Patent Infringement Disputes: Analysis of Commissioner of Income Tax vs. Desiccant Rotors International Pvt. Ltd. under Section 37(1) of the Income Tax Act, 1961
Facts of the Case
The
respondent-assessee is an Indian company engaged in the manufacturing of
environmental control systems.
The
assessee exported its products to a Canadian customer, M/s Venmar
...