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Commissioner of Income Tax vs. Paramount Impex Pvt. Ltd.: Interpretation of DEPB Premium and Export Profit Deductions Under Section 80HHC
Facts of the CaseThe Income Tax Department (Revenue) preferred a batch of
consolidated appeals (with ITA No. 12/2011 as the lead case along with 26 other
associated appeals) before the High Court of Delhi. The disputes...
Commissioner of Income Tax vs. Ahuja Radios (Connected with CIT vs. Paramount Impex Pvt. Ltd.) | Section 80HHC Deduction on DEPB Sale Proceeds Case Law
Facts of the CaseThe respondent-assessee, M/s Ahuja Radios (along with a
cluster of similarly situated export-oriented undertakings including Paramount
Impex Pvt. Ltd.), claimed deductions under Section 80HHC of the In...
Commissioner of Income Tax vs. Priyanka Overseas Pvt. Ltd. | Section 80HHC Deduction on DEPB Profit Case Law
Facts of the CaseThe assessee, M/s Priyanka Overseas Pvt. Ltd., claimed a tax
deduction under Section 80HHC of the Income Tax Act, 1961, regarding profits
accrued through the sale and utilization of Duty Entitlement Pa...
Commissioner of Income Tax v. M/s. [Respondent Name] (Albeit Respondent Name not fully individualised in the summary text, generally formatted as: Commissioner of Income Tax v. Respondent)
2. Facts of the Case
The
revenue filed multiple Income Tax Appeals (ITAS No. 1093/2009, 1091/2009,
and 1094/2009) before the Hon'ble High Court of Delhi against the
respondent-assessee.
The
d...
Director General of Income Tax (Admn.) & Anr. vs. Board for Industrial & Financial Reconstruction (BIFR) & Ors. | Validity of Income Tax Concessions After Discharge of Sick Industrial Company Reference under SICA Section 18
Facts of the Case
Omnibus
Writ Petitions: The Income Tax Department filed multiple
writ petitions under Article 226 of the Constitution of India challenging
various individual orders passed by the Boa...
Motor General Finance Ltd. vs. Commissioner of Income Tax: Taxability of Unclaimed Insurance Surpluses Credited to Profit & Loss Account as Business Income under Section 28(i) of the Income-Tax Act, 1961
1. Facts of the Case
Nature
of Business: Motor General Finance Ltd. (the
Appellant/Assessee) was a limited company engaged in the business of
financing commercial vehicles through hire-purchase agreem...
Commissioner of Income Tax vs. [Respondent Name] | Tax Effect Below Monetary Limit for Filing Appeal under Section 260A of Income Tax Act
Facts of the Case
The
Revenue (Income Tax Department) filed cross-appeals under Income Tax
Appeal (ITA) Nos. 1057/2009 and 593/2010 before the Hon’ble Delhi High
Court.
The
core addition ma...
Director General of Income Tax (Admn.) & Anr. Vs. Board for Industrial & Financial Reconstruction (BIFR) & Ors. — Validity of Revenue Concessions in a Sanctioned Rehabilitation Scheme upon Discharge of Reference post Net-Worth Turnaround under SICA.
1. Facts of the CaseThe Income Tax Department (the petitioners) launched an
omnibus challenge across multiple writ petitions (including WP (C) No. 1953 of
2011) against various orders issued between 2005 and 2009 by th...
Commissioner of Income Tax vs Goyal M.G. Gases Pvt. Ltd. – Assessment Year 1999-2000 | Section 143(3), 153(3)(ii), 263, Income Tax Act
Facts of the
CaseThe respondent, Goyal M.G. Gases Pvt. Ltd.,
filed its income tax return for the assessment year 1999-2000 declaring an
income of Rs. 2.31 crores. The Assessing Officer completed the
assessment ...
M/s Vardan Buildcon, M/s Tarini Developers & M/s Malika Developers vs Asstt. Commissioner of Income Tax – Business Income vs Agricultural Income Dispute under ITA 2011
Facts of the
CaseThree partnership firms, M/s Vardan Buildcon,
M/s Tarini Developers, and M/s Malika Developers, sister concerns
with a common partner, reported agricultural income from the purchase and sale
of...