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Commissioner of Income Tax (Central) vs Padmini Technologies Ltd. | Section 80HHC Deduction Claim Allowed – Revenue Appeal Dismissed by Delhi High Court
Facts of the Case
The
case related to Assessment Year 1998-99.
The
assessee, Padmini Technologies Ltd., claimed deduction under Section 80HHC
of the Income-tax Act, 1961.
The
deduction cla...
Commissioner of Income Tax vs. Enable Exports Pvt. Ltd. – Section 10B Deduction Allowed on Approval Granted by Development Commissioner to 100% Export Oriented Unit (EOU) | Delhi High Court
Facts of the Case
The
assessee filed its return of income for Assessment Year 2007-08 declaring
income of ₹20,23,243.
During
scrutiny assessment under Sections 143(2) and 143(3), the Assessing
...
Commissioner of Income Tax vs SPL's Siddhartha Ltd. | Reassessment Notice u/s 148 Invalid Without Mandatory Sanction Under Section 151(1) of the Income Tax Act | Delhi High Court
Facts of the CaseThe assessee, SPL's Siddhartha Ltd., filed its return of
income for Assessment Year 2002-03 declaring a loss of ₹27.63 lakhs. The return
was processed under Section 143(1).Subsequently, on 12 March 2...
Commissioner of Income Tax vs Foreign Assessee Company – No Penalty Under Section 271(1)(c) for Bona Fide DTAA Tax Computation Error Subsequently Corrected | Delhi High Court
Facts of the CaseThe respondent assessee was a foreign company operating in
India. For Assessment Years 2002-03 and 2003-04, it filed its income tax
returns declaring income of ₹2,77,83,950 and ₹12,19,216 respectiv...
CIT vs Foreign Assessee Company (Delhi High Court) – Deletion of Penalty under Section 271(1)(c) Where Revised Computation Filed After Genuine DTAA Tax Rate Mistake
Facts of the CaseThe respondent assessee was a foreign company operating in
India. For Assessment Years 2002-03 and 2003-04, it filed income tax returns
declaring income of ₹2,77,83,950 and ₹12,19,216 respect...
Commissioner of Income Tax vs Assessee – Eligibility of Deduction under Section 10B of the Income Tax Act on Claim of ₹19,13,653 | Delhi High Court | ITA No. 1320/2010
Facts of the CaseThe assessee claimed deduction under Section 10B of the
Income Tax Act in respect of an amount of ₹19,13,653. The Revenue
challenged the allowability of the deduction and preferred an appeal before t...
Commissioner of Income Tax vs. SKK Ltd. | Depreciation on Sale and Lease Back Transactions Allowed under Section 32 of the Income Tax Act | Delhi High Court
Facts of the Case
The
assessee entered into a purchase and lease-back transaction with M/s Asian
Electronics Ltd.
Pursuant
to the transaction, the assessee claimed depreciation of ₹1,74,11,000 on...
CIT vs Arihant Exports Ltd. (Delhi High Court) – Depreciation on Leased Gas Cylinders Allowed Despite Allegation of Bogus Transaction under Section 32 of the Income-tax Act, 1961 | ITA No. 349 of 2010
Facts of the CaseThe assessee, Arihant Exports Ltd., was engaged in the
business of financing and leasing. During Assessment Year 1994-95, the assessee
purchased gas cylinders from M/s Modern Steel Trading Company, Bha...
Commissioner of Income Tax vs. Ravinder Kumar Arora (2011) 342 ITR 38 (Delhi HC) | Section 54F Exemption Allowed on Jointly Purchased House Where Entire Investment Made by Assessee
Facts of the CaseThe assessee, Mr. Ravinder Kumar Arora, sold a long-term
capital asset being a plot of land situated in Gautam Budh Nagar, Uttar
Pradesh, and earned long-term capital gains.To claim exemption under Sec...
Commissioner of Income Tax, Delhi-I, New Delhi vs Aerens Infrastructure & Technology Ltd. | Reassessment under Sections 147, 148 & Reference to DVO under Section 142A Without Prior Finding of Unexplained Investment – Delhi High Court
Facts of the Case
The
assessee filed its income tax return declaring income of ₹1,60,450.
During
assessment proceedings, the Assessing Officer (AO) noticed that the
assessee had purchased a prope...