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Commissioner of Income Tax vs M/s Asahi India Safety Glass Ltd.: Revenue vs Capital Expenditure on Software and Professional Fees (Assessment Years 1997-98 & 1998-99) – Delhi High Court
Facts of the CaseThe assessee, M/s Asahi India Safety Glass Ltd., a
manufacturer of automobile safety glass, incurred significant expenses on
installing and upgrading Oracle-based application software through Arthur
A...
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...
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...
Shankar Trading (P) Ltd. vs Commissioner of Income Tax (CIT), Delhi – Lease Rent, Related Party Transactions and Capital vs Revenue Expenditure under Section 40A(2) of the Income Tax Act, 1961
Facts of the CaseM/s Shankar Trading (P) Ltd. was engaged in the
business of manufacturing Katha and Cutch and had leased a factory unit from
Mehta Charitable Prajnalaya Trust with effect from 01.06.1978. Certain trust...
Shankar Trading (P) Ltd. vs Commissioner of Income Tax (CIT) – Enhanced Lease Rent, Non-Compete Rights and Applicability of Section 40A(2) under the Income Tax Act, 1961 (Delhi High Court)
Facts of the
CaseM/s Shankar Trading (P) Ltd. was engaged in
manufacturing and trading of Katha and Cutch products and had leased a
manufacturing unit from Mehta Charitable Prajnalaya Trust with effect from
01.06.197...
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...