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In the High Court of Delhi at New Delhi (Income Tax Appellate Jurisdiction) | Commissioner of Income Tax vs. M/s S.R. Fragrances Limited (ITA No. 407/2010 & ITA No. 965/2010) — Landmark Ruling on the Absolute Extinguishment of Consequential Penalty Orders Under Section 271(1)(c) of the Income Tax Act, 1961 Following the Definitive Judicial Deletion and Confirmation of Underlying Quantum Additions
Facts of the CaseThe case originated from assessment proceedings where the
Assessing Officer (AO) made substantial additions to the taxpayer's total
assessable income during the quantum assessment phase. Believing that...
M/s Sharda Agencies Pvt. Ltd. vs. Commissioner of Income Tax: Validity of Rectification Under Section 154 vs Section 158BC and Mandatory Substitution of Appellate-Reduced Regular Income Figures over Inflated Original Assessments during Block Period
Facts of the Case
A
search and seizure operation was carried out at the premises of the
appellant/assessee on 6th November 1996. Consequent to this, a notice
dated 5th August 1997 under Section 158BC ...
Commissioner of Income Tax vs. Gautam R. Chadha: Accrual of Commission Income on Advance Bookings Under Section 5 and Set-Off of Business Losses Under Section 70 of the Income Tax Act
Facts of the Case
Assessee’s
Business: The respondent/assessee, Sh. Gautam R.
Chadha, operated a proprietary travel agency business under the name and
style of M/s Tirun Travel Marketing. The firm a...
Commissioner of Income Tax vs. M/s Victoria (P) Ltd. (ITA No. 2090/2010) | Scope of Additions Under Section 147/148 When Main Reassessment Grounds Fail
Facts of the Case
The
respondent-assessee filed its initial income tax return for the Assessment
Year (AY) 1999-2000, declaring an income of ₹1,22,460, which was processed
under Section 143(1) of th...
Commissioner of Income Tax vs. M/s Dune Leasing & Finance Ltd. Whether Interest Liability Mandated by a Court Decree Constitutes an Ascertained Liability for the Computation of Book Profit Under Section 115JB and Normal Provisions of the Income Tax Act, 1961
Facts of the CaseThe Revenue (appellant) preferred an appeal against the order
of the Income Tax Appellate Tribunal (ITAT). The dispute centered around two
primary adjustments made by the Assessing Officer (AO). The as...
Commissioner of Income Tax vs. M/s [Assessee Name] | Deductibility of Export Commission Paid Abroad Without TDS under Section 40(a)(i) and Depreciation/Amortization of Acquired Goodwill as an Intangible Asset under Section 32 of the Income Tax Act, 1961
Facts of the Case
The
Appellant (Revenue Department) challenged the order passed by the Income
Tax Appellate Tribunal (ITAT), which had deleted two major additions made
by the Assessing Officer (AO). ...
The Commissioner of Income Tax-II vs. M/s Mahavir Irrigation Pvt. Ltd.: Whether Misclassification of a Non-Refundable Revenue Receipt as a Security Deposit in the Balance Sheet Amounts to Concealment of Income or Furnishing Inaccurate Particulars Under Section 271(1)(c) When Full Disclosures Were Made During Assessment
Facts of the Case
Assessee’s
Business and Return Filing: The assessee is a private
limited company engaged in providing services to obtain orders from
Government Departments and acting as a liaison ...
Commissioner of Income Tax, Delhi vs. Ms. Mayawati: Scope of Income Tax Additions Under Sections 68 and 69 for Registered Gifts of Movable and Immovable Properties from Non-Relatives
. Facts of the Case
For
the Assessment Year (A.Y.) 2003-04, the Respondent-Assessee (Ms. Mayawati)
filed her Income Tax return declaring a total income of ₹13,29,090/-.
During
the scrutiny proces...
Commissioner of Income Tax v. [Assessee Name] — Validity of Scrutiny Notice Service under Section 143(2) of the Income Tax Act, 1961, when Dispatched via Speed Post to a Sufficient Address and Followed by the Mandatory Appearance of the Assessee Before the Assessing Officer
Facts of the CaseThe revenue filed an appeal (ITA No. 902/2011) against the
assessee before the High Court of Delhi. The central dispute arose regarding
the valid service of a statutory notice issued under Section 143(...
Commissioner of Income Tax vs. Brahmaputra Consortium Ltd. | Penalty under Section 271(1)(c) Cannot Be Levied for Bona Fide Excess Depreciation Claim and Debatable ROC Fee Deduction Claim – Delhi High Court
Facts of the CaseThe assessee, Brahmaputra Consortium Ltd., filed its return
for Assessment Year 2001-02 declaring a loss of ₹93,74,724.During assessment proceedings, the Assessing Officer noticed
the following claim...