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The Commissioner of Income Tax, Delhi-IX vs. M/s Monoflex India Pvt. Ltd. & Others (2011) – Liability to Pay Unearned Increase on Auction Sale of Leasehold Property under Income Tax Recovery Proceedings
Facts of the Case
Property
No. A-35, Mohan Cooperative Industrial Estate, New Delhi, a leasehold
industrial plot, was attached and auctioned by the Tax Recovery Officer
for recovery of income tax dues...
Commissioner of Income Tax vs Assessee – Delhi High Court Dismisses Revenue Appeal Due to Low Tax Effect Below ₹10 Lakh | ITA No. 1638/2010 (2011)
Facts of the Case
The Revenue
preferred an appeal before the Delhi High Court in ITA No. 1638/2010.
During the
proceedings, it was brought to the notice of the Court that the tax effect
involved in...
Commissioner of Income Tax (Exemption) / Income Tax Department vs Public Charitable Trusts & Religious Trusts – Registration under Section 12AB of the Income-tax Act, 1961 Cannot Be Denied Solely for Absence of an Express Irrevocability Clause: Bombay High Court Ruling Challenged Before Supreme Court
Facts of the Case
The
Income Tax Department insisted that trust deeds of charitable and
religious trusts must contain an express irrevocability clause.
According
to the Department, such a clause is...
Commissioner of Income Tax vs Bharat Hotels Limited – Deduction of Interest on Borrowed Funds Invested in Subsidiary for Business Purpose under Section 36(1)(iii) of the Income-tax Act
Facts of the CaseThe assessee, Bharat Hotels Limited, was engaged in
the business of owning, operating, running, and managing hotels. The assessee
borrowed funds and utilized those funds for subscribing to the equity c...
Commissioner of Income Tax v. Assessee (ITA No. 742/2008 & Connected Appeals) – Delhi High Court Dismisses Revenue Appeals Due to Low Tax Effect Below Prescribed Monetary Limit
Facts of the
CaseA batch of appeals, including ITA No. 742/2008, was
preferred by the Revenue under Section 260A of the Income-tax Act, 1961. During
the hearing, it was noted that the tax effect involved in each of th...
Commissioner of Income Tax vs Various Assessees | Delhi High Court Dismisses Revenue Appeals Due to Low Tax Effect Below ₹4 Lakhs | ITA Nos. 74/2008, 285/2008, 312/2008, 510/2008, 512/2008, 637/2008, 976/2008, 1339/2008, 76/2009 & 849/2009
Facts of the
CaseThe Revenue had preferred multiple appeals before
the Delhi High Court challenging orders passed in favour of various assessees
under the Income-tax Act, 1961.At the time of hearing, the Court observe...
Commissioner of Income Tax v. Assessee (ITA No. 312/2008 & Connected Appeals) – Delhi High Court | Appeals Dismissed Due to Low Tax Effect Below Prescribed Monetary Limit
Facts of the
Case
The Income Tax Department filed multiple appeals before the Delhi
High Court under Section 260A of the Income-tax Act, 1961.
The appeals involved various assessees and assessment years.
Dur...
Commissioner of Income Tax vs Assessee (Connected ITA Nos. 74/2008, 285/2008, 312/2008, 510/2008, 512/2008, 637/2008, 976/2008, 1339/2008, 76/2009 & 849/2009) – Delhi High Court | Revenue Appeals Dismissed Due to Low Tax Effect Below CBDT Monetary Limit
Facts of the CaseThe Revenue filed multiple Income Tax Appeals before the Delhi
High Court challenging orders passed in favour of the respective assessees.
During the hearing, the Court examined the tax effect involved...
Hidayatullah National Law University vs ACIT (Exemption) | Section 10(23C)(iiiab) Exemption Denied as Government Grant Below 50% Threshold under Rule 2BBB | ITAT Raipur
Facts of the CaseThe assessee, Hidayatullah National Law University, a
State-established institution engaged in imparting legal education, claimed
exemption under Section 10(23C)(iiiab) for Assessment Years 2016-17 and...
MCA Notification on CSR Eligibility of Subscription to Zero Coupon Zero Principal Instruments on Social Stock Exchange vs Earlier CSR Funding Framework – Amendment to Schedule VII of Companies Act, 2013
Facts of
the Matter
Companies meeting the
prescribed thresholds under Section 135 of the Companies Act, 2013 are
required to spend a specified amount on CSR activities.
Schedule VII specifies the
...