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Commissioner of Income Tax vs. M/s. Mayur Recreational and Development Ltd. – Scope of ITAT’s Rectification Power Under Section 254(2) vs. Review Power: Delhi High Court Sets Aside Total Recall Order of Income Tax Appellate Tribunal
Facts of the Case
Initial
Tribunal Order: The Income Tax Appellate Tribunal (ITAT),
Delhi Bench, initially disposed of the assessee’s appeal (ITA No.
2967/Del/95) for the Assessment Year 1992-93 via...
Commissioner of Income Tax vs R.K. Gupta (2006) – Additions on Unexplained Cash, Jewellery, Household Expenses and Business Investments Deleted on Concurrent Findings of Fact | Delhi High Court
Facts of the CaseA search operation was conducted against the assessee, R.K.
Gupta. Based on the material discovered during the search, the Assessing
Officer made several additions to the assessee’s taxable income. T...
M/s Mansarovar Investments Ltd. vs Commissioner of Income Tax – Revision under Section 24(1) of Gift Tax Act Maintainable Despite Earlier Appeal Dismissed as Not Maintainable | Delhi High Court
Facts of the CaseThe petitioner, M/s Mansarovar Investments Ltd., was assessed
under the Gift Tax Act. Pursuant to an order passed by the Commissioner of
Income Tax (Appeals), the Gift Tax Officer recomputed the tax li...
Commissioner of Income Tax vs Kamala Chaudhary – ITA No. 522/2006 (Delhi High Court) | Disallowance of Expenses in Block Assessment Based on Seized Material | Section 254(2) of the Income-tax Act
Facts of the CaseThe dispute arose from a block assessment relating to the
period 01.04.1988 to 18.08.1998. The Revenue had challenged the order of
the Income Tax Appellate Tribunal (ITAT).While deciding the Revenue’...
Ericsson India Telephone Corporation AB vs. Deputy Director of Income Tax and Others: Constitutionality of Gross-Basis Taxation on Royalties and Fees for Technical Services (FTS) under Sections 44D and 115A of the Income Tax Act, 1961
Facts of the Case
The
Petitioner Profile: The petitioner, Ericsson India
Telephone Corporation AB, is a foreign entity incorporated under the laws
of Sweden.
Indian
Operations: The petitioner...
Commissioner of Income Tax v. M/s Greysham & Company – Penalty under Section 271(1)(c) in Cases of Assessed Loss | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High Court
challenging the order of the Income Tax Appellate Tribunal (ITAT), which had
deleted the penalty imposed under Section 271(1)(c) of the Income-ta...
Commissioner of Income Tax vs. M/s. Mayur Recreational and Development Ltd. (2004) | Scope of Tribunal's Jurisdiction Under Section 254(2) of the Income Tax Act, 1961: Distinction Between the Power of Review and Power to Rectify Mistakes for Recalling Entire Orders
Facts of the Case
Original
Tribunal Order: The Income Tax Appellate Tribunal (ITAT),
Delhi Bench, initially disposed of the assessee's appeal (ITA No.
2967/Del/95) for the Assessment Year 1992-93 via ...
Commissioner of Income Tax vs M/s Galaxy Power Cables Ltd. (Delhi High Court) – Allowability of Consultancy/Service Charges Paid Through Banking Channels Despite Absence of Formal Agreement | AY 1996-97
Facts of the CaseFor the Assessment Year 1996-97, the assessee, M/s Galaxy
Power Cables Ltd., filed its return declaring a loss of approximately ₹1.83
crore. The assessee had received ₹75 lakh from Himachal Futuris...
Commissioner of Income Tax vs. Shri Shyam Sales: Statutory Jurisdiction under Section 260A of the Income Tax Act, 1961: Validity of Assessing Officer’s Reference to the Departmental Valuation Officer (DVO) for Determination of Real Estate Construction Costs vis-à-vis the Binding Precedent of Smt. Amiya Bala Paul vs. CIT (262 ITR 407)
Facts of the Case
Nature
of the Appeal: The Appellant (Revenue/Income Tax
Department) preferred a statutory tax appeal under Section 260A of the
Income Tax Act, 1961, challenging the prior order passe...
Commissioner of Income Tax v. Ballabgarh Refractories Ltd.: Deletion of Depreciation Disallowance Upheld as Revenue Fails to Prove Collusive Asset Transfer Between Holding and Subsidiary Company Under Section 32 of Income Tax Act
Facts of the CaseThe respondent-assessee (Ballabgarh Refractories Ltd.), a
subsidiary company, claimed a depreciation amount of ₹10,93,465 (out of a total
disallowance of ₹17,00,252) for the use of machinery owned ...