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Commissioner of Income Tax vs. Goodearth Foundation: Analysis of Retrospective Registration under Section 12A and Validity of Assessment Notices
Facts of the CaseThe Goodearth Foundation, a society formed in 1979, conducted
charitable activities, including operating a school in Alwar. Historically, the
society did not file income tax returns, while the school i...
Bharti Gupta Ramola vs. Commissioner of Income Tax: Computation of Holding Period for Capital Assets under Section 2(42A) of the Income Tax Act, 1961
Facts of the Case
The
appellant, Bharti Gupta Ramola, is an individual assessee who earned
income from salary, sources, and capital gains through investments in
mutual fund instruments and securities....
Commissioner of Income Tax vs. M/S Goel Jewellers: Judicial Determination on the Non-Inclusion of Undisclosed Income Surrendered During Survey under Section 133A within 'Business Profits' for Computing Export Deductions under Section 80HHC of the Income Tax Act, 1961
Facts of the Case
Business
Profile: The respondent-assessee, M/S Goel Jewellers,
is a partnership firm engaged in the business of manufacturing and selling
gold jewellery and diamonds both in India (d...
Commissioner of Income Tax vs. The Instalment Supply Limited: Deciding the Genuineness of Sale-and-Leaseback Transactions and Entitlement to 100% Depreciation under Section 32 of the Income Tax Act, 1961
Facts of the Case
Assessee
Business & Return: The assessee, M/s The Instalment Supply
Limited, filed its return of income for the Assessment Year (AY) 1994-95
on November 30, 1994, declaring a tot...
Heminder Kumari vs. Deputy Commissioner of Income Tax (and Connected Matters) | Validity of Income Tax Assessment and Liberty to Raise Grounds in Appellate Proceedings
Facts of the Case
Consolidated
Batch of Tax Matters: The case before the High Court of Delhi
did not present an isolated grievance but comprised a heavily consolidated
batch of eight distinct writ pet...
Commissioner of Income Tax-II vs. Jindal Dyechem Industries Pvt. Ltd. | Deletion of Section 69A Addition on Unverifiable Cash Sales & Stock Write-Off without Material Evidence
Facts of the Case
The
Assessee, M/s Jindal Dyechem Industries Pvt. Ltd., was engaged in the
wholesale trade of bullion (gold and silver) during the Assessment Year
(AY) 2004–2005.
During
th...
Commissioner of Income Tax-II vs. Jindal Dyechem Industries Pvt. Ltd. – Section 69A Additions for Alleged Understatement of Bullion Sales and Minor Stock Discrepancies Devoid of Material Evidence Set Aside
Facts of the Case
The
Appellant (Revenue/Assessing Officer) framed an assessment for the
Assessment Year (AY) 2004-2005 against the Respondent (Assessee), M/s
Jindal Dyechem Industries Pvt. Ltd., who ...
M/s High Polymer Labs Ltd. vs. Commissioner of Income Tax: Netting of Interest Income and Business Asset Receipts under Section 80HHC of the Income Tax Act
Facts of the Case
The
respondent-assessee, M/s High Polymer Labs Ltd., is a company actively
engaged in export operations.
For
the Assessment Year (AY) 1996-97, the assessee claimed tax deductions
...
Commissioner of Income Tax vs. Career Launcher India Ltd.: Delhi High Court Judgment on Franchisee Fee Sharing under Section 194C and Corporate Tax Deductions
Facts of the Case
Assessee
Profile: The Assessee (Career Launcher India Ltd.) is
a company engaged in providing education and training for competitive
entrance examinations (e.g., IIM, IIT) across Ind...
CIT vs Ansal Properties & Infrastructure Ltd. – Delhi High Court Clarifies Applicability of Section 50 on Sale of Depreciable Assets Forming Part of Block of Assets | AY 1989-90 & 1990-91
Facts of the
CaseThe Revenue preferred appeals before the Delhi High
Court against the orders passed in favour of Ansal Properties &
Infrastructure Ltd. for Assessment Years 1989-90 and 1990-91.For AY 1989-90, the...