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Commissioner of Income Tax v. Anil Kumar Batra [2010] 2010:DHC:4795-DB (Delhi High Court) – Additions Based on Estimation Without Evidence Cannot Be Sustained under Sections 144 & 145(3) of the Income Tax Act
Facts of the
CaseA search and seizure operation was conducted at the
premises of the assessee, Anil Kumar Batra, on 08 January 2004. During
assessment proceedings relating to Assessment Year 1998-99, the Assessing
Of...
COMMISSIONER OF INCOME TAX vs. TRIVENI ENGINEERING & INDUSTRIES LTD. - Whether Unrecoverable Lease Security Deposits and Irrecoverable Employee Advances Inherited Post-Amalgamation Constitute Deductible Business Trading Losses Under Section 28 of the Income Tax Act, 1961
FACTS OF THE CASE
The
respondent-assessee, M/s Triveni Engineering & Industries Ltd., filed
its statutory income tax return for the Assessment Year 2000-01, declaring
a total net loss of ₹12.58 ...
Director of Income Tax (Exemptions) vs Delhi International Football League (2010) 2010:DHC:4797-DB | Registration under Section 12AA cannot be denied merely because fees are charged for charitable activities
Facts of the
CaseThe respondent, Delhi International Football
League, applied for registration under Section 12AA of the Income Tax Act,
1961. The Income Tax Appellate Tribunal directed the Director of Income Tax
(Ex...
Director of Income Tax (Exemptions) vs. Delhi International Football League (Delhi High Court) – Registration under Section 12AA Cannot Be Denied Merely Because Training Fees Are Charged for Promotion of Football Activities
Facts of the
Case
The respondent, Delhi International Football League, applied for
registration under Section 12AA of the Income-tax Act.
The Director of Income Tax (Exemptions) refused registration.
The Inc...
Commissioner of Income Tax vs. Rajdhani Floor Mills Ltd: Scope of Book Profit Estimations and Impact of Consumable Packing Materials under Section 143(3) of the Income Tax Act, 1961.
Facts of the Case
Nature
of Business and Parties: The respondent-assessee,
Rajdhani Floor Mills Ltd, is actively engaged in the manufacturing
business of 'Besan', using Gram as its primary raw materia...
Lachman Dass Bhatia vs Assistant Commissioner of Income Tax | Delhi High Court Permits Withdrawal of Income Tax Appeals to Pursue Writ Petitions | ITA Nos. 724-729 of 2010
Facts of the
CaseThe appellant, Lachman Dass Bhatia, had filed
Income Tax Appeals bearing ITA Nos. 724/2010, 725/2010, 726/2010, 727/2010,
728/2010 and 729/2010 before the Delhi High Court against the Assi...
The Commissioner of Income Tax vs. Meriton Towers Pvt. Ltd. (An Appeal Under Section 260A of the Income Tax Act, 1961, Concerning Share Application Money and the Scope of Deletions under Section 68 Regarding Established Corporate Shareholder Identities)
Facts of the CaseThe Appellant, the Commissioner of Income Tax, filed an appeal
under Section 260A of the Income Tax Act, 1961, challenging the order dated
September 10, 2009, issued by the Income Tax Appellate T...
Commissioner of Income Tax vs. M/s New Age Infosys Pvt. Ltd. – Share Application Money Cannot Be Added as Unexplained Cash Credit under Section 68 When Identity, Creditworthiness and Genuineness are Established | Delhi High Court
Facts of the Case
The assessee company received share application money amounting to
₹12,50,000/- from two corporate entities.
The Assessing Officer treated the amount as unexplained cash credit
under S...
Commissioner of Income Tax vs. Anil Kumar Batra [2010] 2010:DHC:4825-DB (Delhi High Court) | Section 260A Income Tax Act | Revenue Appeal Dismissed Following Earlier Decision on Identical Tribunal Order
Facts of the
Case
The Commissioner of Income Tax filed the present appeal under
Section 260A of the Income Tax Act, 1961.
The appeal challenged the order dated 15 January 2010 passed by the
Income Tax Ap...
The Commissioner of Income Tax v. M/s Iris Computers Ltd. Income Tax Appeal under Section 260A of the Income Tax Act, 1961 regarding Deletion of Unexplained Cash Credits under Section 68 concerning Share Application Money.
Facts of the Case
Assessment
& Dispute: The Revenue filed an appeal challenging the
order dated October 9, 2009, passed by the Income Tax Appellate Tribunal
(ITAT) for the Assessment Year 2004-05....