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M/s Lavish Apartment (P.) Ltd. vs Assistant Commissioner of Income Tax – Set-Off of Brought Forward Business Loss Against Rental Income, Hire Charges and Commission Income under Section 72(1) of the Income Tax Act, 1961
Facts of the
Case
The assessee, M/s Lavish Apartment (P.) Ltd., was a private limited
company carrying on business in sale, purchase, leasing and renting of
properties.
For Assessment Year 1995–96, the...
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...
M/s Asian Hotels (North) Ltd. vs Commissioner of Income Tax-I | Section 192 read with Sections 201, 201(1A) & 221 of the Income Tax Act, 1961 | Delhi High Court (ITA 407/2012)
Facts of the
CaseM/s Asian Hotels (North) Ltd. filed an appeal
before the Delhi High Court challenging the applicability of Tax Deduction at
Source (TDS) provisions on tips distributed to employees. The assessee
ques...
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 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...
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
...
M/s Asian Hotels (North) Ltd. vs Commissioner of Income Tax-I | TDS Liability on Employee Tips under Section 192 of the Income Tax Act – Delhi High Court
Facts of the CaseM/s Asian Hotels (North) Ltd., the
assessee and hotel operator, challenged the applicability of TDS provisions
under Section 192 of the Income Tax Act in respect of tips paid to employees.
The princip...
Goyal Impex & Industries Ltd. vs Commissioner of Income Tax | DEPB Credit Taxability and Section 80HHC Deduction under Income Tax Act – Delhi High Court
Facts of the
Case
Goyal Impex & Industries Ltd. was involved in export activities
and claimed benefits concerning DEPB credit and deductions under Section
80HHC of the Income Tax Act.
The dispute aro...
M/s Asian Hotels (North) Ltd. vs Commissioner of Income Tax-I | TDS Liability on Employee Tips under Section 192 of the Income Tax Act, 1961
Facts of the
CaseThe assessee, M/s Asian Hotels (North) Ltd., filed
an appeal before the Delhi High Court raising the issue regarding deduction of
TDS on amounts distributed as tips to employees.The principal contenti...