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Capital Cables (India) Pvt. Ltd. vs. Income-Tax Settlement Commission: Finality of Orders Under Section 245D(4) and the Legal Bar on Rectification Under Section 154 of the Income Tax Act
Facts of the Case
The
applicants filed settlement applications in early 1994 under Section 245-C
of the Income-tax Act, 1961.
The
Settlement Commission passed an order under Section 245-D(1) around...
M/s Karan Associates (P) Ltd. Vs. Income Tax Settlement Commission & Anr.: Delhi High Court Adjudicates on the Interplay of Conclusiveness, Jurisdiction, and Rectification of Orders under Section 245D and Section 154 of the Income Tax Act, 1961
Facts of the Case
The
Petitioner, M/s Karan Associates (P) Ltd., approached the Hon'ble
Delhi High Court by way of a Civil Writ Petition (CWP No. 3343/2003) to
challenge an administrative or quasi-jud...
Shri Shyam Sales vs. Income Tax Settlement Commission & Anr. | Jurisdictional Bar on Settlement Commission to Invoke Section 154 for Rectification of Final Orders Passed Under Section 245D(4) of Income Tax Act, 1961: A Comprehensive Analysis of Delhi High Court’s Landmark Judgment (W.P. (C) No. 5317/2004)
Facts of the Case
Origin
of the Dispute: The petitioner, M/s Shri Shyam Sales,
approached the Hon'ble High Court of Delhi under Article 226 of the
Constitution of India to challenge a controversial pr...
Shri Shyam Sales vs. Commissioner of Income Tax: Scope of Revisionary Jurisdiction Under Section 263 of the Income Tax Act, 1961 – Delhi High Court Rules on Valid Invocation, Prejudicial Orders, and Substantial Question of Law with Reference to Malabar Industrial Co. Ltd.
Facts of the Case
Background
of the Appeals: The assessee, Shri Shyam Sales, preferred
two interconnected appeals before the High Court of Delhi, registered as
Income Tax Appeal (ITA) No. 121 of 2004 ...
The Director of Income Tax v. M/s. Gian Bharti Trust (2004:DHC:13247-DB) – Exemption of Income Derived from Educational Institutions under Section 10(22) of the Income Tax Act, 1961: Applicability of Apex Court Precedent in Aditanar Educational Institution
Facts of the Case
The
Revenue preferred two references before the High Court of Delhi against
the order of the Income Tax Appellate Tribunal (ITAT) for the Assessment
Years (AY) 1984-85 and 1985-86.
...
Commissioner of Income Tax vs. M/s. Divine Light Mission: Scope of Exemptions under Sections 10, 11, and 12 of the Income Tax Act, 1961 for Charitable Trusts regarding Membership Subscriptions, Interest Income, and Suspense Accounts
Facts of the CaseThe case involves a series of reference applications and
appeals concerning the assessment years from 1966-67 onwards. The assessee,
M/s. Divine Light Mission, is an admitted charitable trust. The Inco...
Commissioner of Income-Tax vs. M/s Shri Shyam Sales: Whether Higher Rate of Depreciation @ 40% is Legally Allowable under Section 32 on Leased-Out Commercial Vehicles When the Lessor/Assessee is Not Personally Engaged in the Operational Business of Running Such Vehicles on Hire
Facts of the CaseThe matter came before the High Court of Delhi through two
interconnected tax proceedings, namely ITR No. 25/99 and ITA No.
83/99. These proceedings were clubbed and disposed of together via a common
...
Shri Shyam Sales v. Income-Tax Settlement Commission & Ors. | Scope and Limits of Tribunal Jurisdiction: Whether the Settlement Commission Possesses Inherent Power to Rectify or Review a Final Assessment Order Passed Under Section 245D(4) of the Income Tax Act, 1961 in Light of Capital Cables (India) Pvt. Ltd. Precedent
Facts of the CaseThe petitioner, Shri Shyam Sales, originally approached the
Income-Tax Settlement Commission seeking an amicable and final resolution to
its outstanding direct tax vulnerabilities. Following standard s...
Shri S.P. Bhatia v. Income Tax Settlement Commission and Others: Delhi High Court Bars Income Tax Settlement Commission from Rectifying or Modifying Final Orders Under Section 245D(4) of the Income Tax Act, 1961
Facts of the Case
The
Income Tax Settlement Commission had initially passed an order settling a
case under Section 245D(4) of the Income Tax Act, 1961, on May
21, 1998.
Subsequently,
on March...
In the High Court of Delhi: Commissioner of Income Tax vs. M/s. Fuji Bank Ltd. — A Comprehensive Judgment on the Legality of Deleting Penalties Imposed Under Section 271G of the Income Tax Act, 1961, and the Judicial Binding Nature of Precedents in Transfer Pricing and International Banking Documentation Disputes
Facts of the CaseThe Revenue (the Income Tax Department) preferred six
statutory appeals before the High Court of Delhi against a common, consolidated
order rendered by the Income Tax Appellate Tribunal (ITAT), New Del...