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Commissioner of Income Tax vs Havells India Ltd. | Delhi High Court | Section 9(1)(vii), Section 40(a)(ia), Section 195 & Section 260A of the Income Tax Act, 1961 | Foreign Technical Testing Fees, Pre-Operative Expenses & Debenture Issue Expenses
Facts of the
CaseHavells India Ltd., engaged in manufacturing
electrical products including switch gears, cables, wires, fans, and lighting
products, made payment of ₹14,71,095 to M/s CSA International, Chicago, USA...
Commissioner of Income Tax-VII v. Shri Karan Khandelwal & Commissioner of Income Tax-III v. Sunil Bedi – Addition under Income Tax Act on Understatement of Consideration in Share Transfer of Property Holding Company
Facts of the CasePrem Shanker Khandelwal (HUF) owned commercial land
situated at Village Sikandarpur Ghosi, Gurgaon. Initially, a Memorandum of
Understanding (MoU) dated 22.03.2000 was entered into with Fashion Flare
...
Commissioner of Income Tax-VII & Commissioner of Income Tax-III vs Shri Karan Khandelwal & Sunil Bedi | Addition on Understated Share Transfer Consideration Upheld | Sections 48 & 52 of Income Tax Act
Facts of the CasePrem Shanker Khandelwal (HUF) owned commercial land
situated at Sikandarpur Ghosi, Gurgaon. Initially, a Memorandum of
Understanding (MOU) dated 22.03.2000 was executed with Fashion Flare
Internationa...
Money Growth Investment and Consultants Pvt. Ltd. vs Income Tax Officer | Reopening of Assessment under Sections 147/148 on Basis of Accommodation Entries – Delhi High Court
Facts of the CaseThe petitioner company was incorporated as a
Non-Banking Finance Company under the Companies Act, 1956.For Assessment Year 2004-05, the petitioner filed
its return of income under Section 139(1) of the...
Commissioner of Income Tax-VI, New Delhi vs Usha International Limited – Reopening of Assessment under Sections 147/148 of the Income Tax Act, 1961 on the Basis of Audit Objection and Doctrine of Change of Opinion
Facts of the Case
Usha International Limited filed its return of income for
Assessment Year 2001-02 on 29 October 2001.
Assessment was completed under Section 143(3) on 30 January 2004.
In the Notes to Accoun...
Director of Income Tax vs Guy Carpenter & Co. Ltd. – Reinsurance Brokerage not Taxable as Fees for Technical Services under Section 9(1)(vii) and Article 13 of India-UK DTAA | Delhi High Court
Facts of the CaseThe assessee, Guy Carpenter & Co. Ltd., a
United Kingdom based reinsurance intermediary and broker, received
brokerage/commission from insurance companies operating in India for
facilitating reins...
Krishak Bharati Cooperative Ltd. vs Joint Commissioner of Income Tax & Commissioner of Income Tax Special Range-12 | Delhi High Court | ITA 1278/2007 & ITA 956/2008 | No Substantial Question of Law Arises
Facts of the
CaseKrishak Bharati Cooperative Ltd. filed two income
tax appeals before the Delhi High Court challenging the orders passed by the
Income Tax Authorities. The appeals were registered as ITA No. 1278/2007 ...
Krishak Bharati Cooperative Ltd. vs Joint Commissioner of Income Tax & Commissioner of Income Tax Special Range-12 | Delhi High Court | ITA 1278/2007 & ITA 956/2008 | No Substantial Question of Law Arises
Facts of the
CaseKrishak Bharati Cooperative Ltd. filed two income
tax appeals before the Delhi High Court challenging the orders passed by the
Income Tax Authorities. The appeals were registered as ITA No. 1278/2007 ...
Director of Income Tax vs. Cargill Financial Services Asia Pvt. Ltd. | Delhi High Court on Bill Discounting Charges and TDS Liability under Section 194A of the Income Tax Act
Facts of the CaseCargill Global Trading Pvt. Ltd. had entered into
transactions involving bill discounting arrangements with Cargill Financial
Services Asia Pvt. Ltd. The Assessing Officer treated the bill discou...
Commissioner of Income Tax vs. Shri Anant Jain – Taxability of Retirement Benefits Received Outside India by a “Not Ordinarily Resident” Assessee under Sections 5(1)(c), 6 & 9(1)(ii) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, Shri Anant Jain, had worked with
Enron Corporation, USA from 1991 till November 1999 and during that period he
was a non-resident Indian. Upon termination of his employment, he received
...