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Radials International vs ACIT – Delhi High Court Clarifies Tax Treatment of PMS Transactions and Distinction Between Capital Gains and Business Income under the Income-tax Act, 1961
Facts of the Case
Radials
International was a partnership firm engaged in providing technical,
marketing and maintenance services relating to earth mover, aircraft and
truck tyres and also traded in t...
S.K. Jain vs Commissioner of Income Tax-XI, New Delhi & Others – Delhi High Court on Interest Liability for Delayed Release of Seized Cash under Sections 132, 132B & 244A of the Income Tax Act, 1961
Facts of the
CaseThe petitioner, S.K. Jain, was subjected to a
search and seizure operation under Section 132(1) of the Income Tax Act on
16.02.2005 at his residential premises. During the search, cash amounting to
â...
Assistant Commissioner of Income Tax v. Nilofar Currimbhoy | Section 276-CC & Section 278-E of Income Tax Act – Wilful Delay in Filing Income Tax Return and Presumption of Mens Rea by Delhi High Court
Facts of the Case
For Assessment Year 1994–95, the respondent was required to file
income tax returns on or before 31.10.1994.
Upon scrutiny of departmental records, the Income Tax Department
found that...
Court on Its Own Motion & All India Federation of Tax Practitioners vs Commissioner of Income Tax & Union of India – Delhi High Court on Illegal Adjustment of Refunds, TDS Credit Mismatch and Mandatory Compliance of Sections 245 & 154 of the Income Tax Act
Facts of the Case
The proceedings originated from a letter written by a Chartered
Accountant pointing out hardships suffered by taxpayers due to errors in
computerized processing of income tax returns.
Su...
Pepsi Foods Pvt. Ltd. vs Assistant Commissioner of Income Tax | Delhi High Court | Section 153C Income Tax Act | Invalid Satisfaction Note and Quashing of Notice
Facts of the
CaseA search and seizure operation under Section 132(1)
of the Income Tax Act was conducted on the Jaipuria Group on 27.03.2012. During
the course of the search, certain documents relating to Pepsi Foods ...
Ajay Kumar Sharma vs Commissioner of Income Tax & Anr | Delhi High Court on Reassessment under Sections 147/148 and Eligibility of Section 80-IC Deduction for PET Bottle Manufacturing
Facts of the
CaseThe petitioner, Ajay Kumar Sharma, engaged in
manufacturing PET bottles through M/s OM Shiva Industries situated in Himachal
Pradesh, had claimed deduction under Section 80-IC of the Income-tax Act on...
Director of Income Tax (Exemption) vs Charanjiv Charitable Trust – Delhi High Court | Withdrawal of Revenue Appeal with Liberty to File Fresh Appeal | ITA 5/2013 & ITA 6/2013
Facts of the
CaseThe Revenue, through the Director of Income Tax
(Exemption), had filed appeals before the Delhi High Court against Charanjiv
Charitable Trust. During the hearing, counsel appearing for the
appellant/...
Commissioner of Income Tax-VII vs Neera Bhandari | Taxability of Inheritance Received Through Will, Section 56(2)(v), Short-Term Capital Gain & Sale Proceeds Received Under Testamentary Succession | Delhi High Court
Facts of the
CaseThe assessee, Smt. Neera Bhandari, received an
amount of ₹1,05,00,000 from her brother, Pramod Kumar Bajaj. The amount was
received in installments consisting of ₹72 lakhs during Asses...
Pepsi Foods Pvt. Ltd. vs Assistant Commissioner of Income Tax (Delhi High Court) – Invalid Assumption of Jurisdiction Under Section 153C Without Proper Satisfaction Note | Sections 153C, 132(4A) & 292C of Income Tax Act
Facts of the Case
A search and seizure operation under Section 132 of the Income Tax
Act was conducted on the Jaipuria Group on 27.03.2012.
During the course of search, certain documents were seized
alle...
Ajay Kumar Sharma vs Commissioner of Income Tax & Anr | Delhi High Court on Reopening of Assessment under Sections 147/148 and Deduction under Section 80-IC for PET Bottle Manufacturing | 2013:DHC:888-DB
Facts of the
Case
The petitioner was engaged in manufacturing PET bottles through an
industrial undertaking situated in Barotiwala, District Solan, Himachal
Pradesh.
During Financial Year 2004-05, substa...