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Shivalik Bimetal Controls Ltd. vs. Income Tax Officer : Validity of Reopening Notice under Section 148 Beyond 4 Years Without Failure to Disclose Material Facts
Facts of the Case
For
the Assessment Year (AY) 2005-06, the initial assessment of the
petitioner, Shivalik Bimetal Controls Ltd., was completed under Section
143(3) of the Income Tax Act, 1961, on Apr...
M/s Lord Chloro Alkalies Ltd. vs Director General of Income Tax (Admn.) & Anr. – Delhi High Court | Validity of BIFR Rehabilitation Scheme for Waiver of Interest under Income Tax Act vis-à-vis SICA, Sections 32, 22 and Section 119 of Income Tax Act
Facts of the CaseM/s Lord Chloro Alkalies Ltd., originally incorporated as Modi
Alkalies & Chemicals Ltd., commenced production of caustic soda and
initially operated satisfactorily. Subsequently, owing to adverse ...
Dalmia Cement (Bharat) Ltd. Vs. Commissioner of Income Tax | Applicability of Section 43B on Cess and Surcharge
Facts of the Case:·
The assessee claimed an expenditure
of Rs. 1,45,29,207 for the assessment year (AY) 1985-86 as an accrued liability
to pay cess and cess surcharge u...
Commissioner of Income Tax-III vs. Sapient Corporation Pvt Ltd | Disallowance of Leave Encashment under Section 43B
Facts of the Case·
The respondent-assessee, Sapient
Corporation Pvt Ltd, faced reassessment proceedings for the Assessment Year
2004-05. · ...
AAA Portfolios Pvt. Ltd. & Others vs Deputy Commissioner of Income Tax & Others – Delhi High Court on Validity of Recovery Proceedings Under Section 226(3) of the Income Tax Act in Respect of Escrow Funds (2013)
Facts of the
CaseThe petitioners were shareholders of Escorts Heart
Institute & Research Centre Ltd. and had entered into a Share Purchase
Agreement dated 25.09.2005 with Fortis Healthcare Ltd. for sale of their
...
Khanna and Annadhanam vs. Commissioner of Income Tax: Capital vs Revenue Receipt – Analysis under Section 260A, Income Tax Act, 1961
Facts of the
Case
The assessee, a firm of chartered accountants, received referred
work from M/s Gupta Chaudhary & Ghose, Calcutta, initially referred by
Deloitte Haskins & Sells (“DHS”), an in...
Krishak Bharti Cooperative Ltd. vs Deputy Commissioner of Income Tax & Additional Commissioner of Income Tax | Section 80-I Deduction on Service Charges from Heavy WaterPlant | Delhi High Court
Facts of the Case
KRIBHCO operated an Ammonia/Urea Plant at Hazira.
The Heavy Water Board established a Heavy Water Plant adjacent to
KRIBHCO's premises under agreements executed between the parties.
KRIBHCO ...
Commissioner of Income Tax (Central-I) vs Jakson Ltd.: Analysis of Section 271(1)(c) Penalty on Deductions under Section 80-IB
Facts of the
Case:The appeals by the revenue arose from the common
order dated 22.06.2012 of the Income Tax Appellate Tribunal concerning
assessment years 2003-04 and 2004-05. The disputes involved penalties und...
Krishak Bharti Cooperative Limited (KRIBHCO) vs Deputy Commissioner of Income Tax & Additional Commissioner of Income Tax – Eligibility of Service Charges for Deduction under Section 80-I of the Income-tax Act, 1961
Facts of the
Case
KRIBHCO operated an Ammonia/Urea Plant at Hazira.
Adjacent to KRIBHCO's plant, the Heavy Water Board established a
Heavy Water Plant for manufacturing heavy water.
KRIBHCO entered into agre...
Commissioner of Income Tax vs Bhushan Capital & Credits Services Pvt Ltd – Disallowance of Loss on Sale of Shares under Income Tax Act, 1961, Section 260A
Facts of the
CaseThe Revenue (Commissioner of Income Tax) filed an
appeal under Section 260A of the Income Tax Act, 1961, challenging the order
dated 19.06.2009 by the Income Tax Appellate Tribunal in ITA No. 967/DEL/...