Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Showing filtered results. Clear filters
Steel Authority of India Ltd. vs. Commissioner of Income Tax: Impact of Government Loan Waiver on Computation of "Actual Cost" and Depreciation under Section 43(1) of Income Tax Act
Facts of the Case
The
Appellant, Steel Authority of India Ltd. (SAIL), is a public sector
undertaking engaged in the manufacturing and sale of iron and steel.
To
meet its requirements, the Governme...
Steel Authority of India Ltd. vs. Commissioner of Income Tax: Impact of Government Loan Waiver on Computation of "Actual Cost" and Depreciation under Section 43(1) of Income Tax Act
Facts of the Case
The
Appellant, Steel Authority of India Ltd. (SAIL), is a public sector
undertaking engaged in the manufacturing and sale of iron and steel.
To
meet its requirements, the Governme...
The Commissioner of Income Tax-II vs. Jai Parabolic Spring Ltd. (In light of Areva T&D India Ltd. vs. DCIT): Whether Depreciation Under Section 32(1)(ii) of the Income Tax Act, 1961 is Allowable on Intangible Assets, Goodwill, and Commercial Business Rights Acquired via Slump Sale Agreement
Facts of the Case
The
Assessee (Jai Parabolic Spring Ltd.) engaged in a business transition,
claiming expenditures and dealing with rights arising from business
transfers.
In
...
Commissioner of Income Tax vs. M/s Auto Pins India Ltd. Delhi High Court Clarifies the Law on Write-Off of Accumulated Bad Debts Under Section 36(1)(vii) vs. Revenue's Argument of Single-Year Income Distortion
Facts of the Case
Nature
of Business: The respondent-assessee, M/s Auto Pins
India Ltd., was actively engaged in the manufacture and sale of automobile
parts.
Income
Return Filed: F...
National Cooperative Development Corporation vs. Assistant Commissioner of Income Tax: Scope of Income "Derived From" Long-Term Finance Business under Section 36(1)(viii) of the Income Tax Act, 1961
Facts of the Case
The
Appellant-Assessee, National Cooperative Development Corporation (NCDC),
is a statutory corporation established under the National Cooperative
Development Corporation Act, 1962, ...
Commissioner of Income Tax vs. Goodearth Foundation: Analysis of Retrospective Registration under Section 12A and Validity of Assessment Notices
Facts of the CaseThe Goodearth Foundation, a society formed in 1979, conducted
charitable activities, including operating a school in Alwar. Historically, the
society did not file income tax returns, while the school i...
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...
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...
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...