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DCM Ltd. vs Commissioner of Income Tax – Taxability of Molasses Storage Fund Collections and Diversion of Income by Overriding Title | Delhi High Court
Facts of the CaseThe assessee, DCM Ltd., was a public limited
company engaged in the manufacture of various products including sugar. Under
the Molasses Control (Regulation of Fund for Erection of Storage Facilities)
...
Pradeep Jain vs DCIT, Circle-61(1), Delhi – Ex-Parte CIT(A) Order Set Aside for Violation of Natural Justice | Sections 68, 115BBE, 143(3), 144B & 250(2)(a) of Income Tax Act
Facts of the CaseThe assessee, Mr. Pradeep Jain, filed his return of income for
Assessment Year 2022-23 declaring total income of ₹44,91,930. The case was
selected for complete scrutiny under CASS.During assessment p...
Commissioner of Income Tax vs British Airways (2004) – ITAT Appeal Cannot Be Dismissed Merely for Absence of Grounds in Memorandum of Appeal | Rule 12 of ITAT Rules, 1963
Facts of the CaseThe Revenue filed multiple appeals before the
Income Tax Appellate Tribunal (ITAT). The Tribunal dismissed those appeals at
the threshold (in limine) on the ground that the memorandum of appeal filed i...
Commissioner of Income Tax, Delhi-I vs M/s Montari Chemcare Investment (ITA No. 107/2004) – Penalty under Section 271(1)(c) on Concealed Income Despite Assessed Loss
Facts of the CaseThe
assessee filed its return of income declaring a loss. During assessment
proceedings, the Assessing Officer found that certain income had been concealed
or inaccurate particulars had been furnished...
Commissioner of Wealth Tax v. Allied Finance Pvt. Ltd. & Others (Delhi High Court) – Principle of Consistency in Wealth-Tax Valuation and Bar on Selective Revenue Appeals under Section 27A of the Wealth-tax Act, 1957
Facts of the CaseThree companies, namely Allied Finance Pvt. Ltd.,
R.K.K.R. Industries Pvt. Ltd., and R.K.K.R. International Pvt. Ltd., jointly
purchased property bearing No. 12, Aurangzeb Lane, New Delhi through a sal...
Commissioner of Income Tax, Delhi-I vs M/s Krisons Electronics System (ITA No. 106/2004) – Penalty u/s 271(1)(c) Leviable Even Where Assessed Income Remains Loss
Facts of the CaseThe Revenue
filed an appeal before the Delhi High Court challenging the orders of the
Income Tax Appellate Tribunal (ITAT), which had deleted penalties imposed under
Section 271(1)(c) of the Income-ta...
Keane India Ltd., Delhi v. Commissioner of Income Tax, Delhi – Reassessment Objections, Natural Justice and Requirement of Speaking Order Before Completion of Assessment under section 147 of the Income Tax Act, 1961
Facts of the CaseKeane India Ltd., Delhi filed a writ petition before the Delhi
High Court challenging the conduct of assessment proceedings by the Income Tax
Department.During the hearing, counsel appearing for the Re...
Commissioner of Income Tax v/s. M/s Akash Deep Promoters & Developers Pvt. Ltd. – Deductibility of Additional Service Charges Paid to Associated Concern under Sections 40A(2)(b) and 260A of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe respondent-assessee, M/s Akash Deep Promoters
& Developers Pvt. Ltd., was engaged in the business of real estate
development. For Assessment Year 2000-01, it filed its return declaring a loss
...
Commissioner of Income Tax, Delhi-I vs M/s Mahavir Aluminium Ltd. – Penalty under Section 271(1)(c) on Reduced Loss Assessment After Insertion of Explanation 4
Facts of the CaseThe Revenue
filed an appeal before the Delhi High Court challenging the order of the Income
Tax Appellate Tribunal (ITAT), which had deleted the penalty imposed under
Section 271(1)(c) of the Income-t...
Commissioner of Income Tax v/s. B.R. Sharma (2005) – Penalty under Section 271(1)(c) Invalid Without Recorded Satisfaction | Delhi High Court
Facts of the
CaseThe assessee, B.R. Sharma, filed his return of
income for Assessment Year 1994-95 declaring income of approximately Rs.10.13
lakhs. During assessment proceedings, the Assessing Officer made an additio...