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Commissioner of Income Tax: Delhi-VIII vs Ashok Mittal – Set-off of Brought Forward Speculative Losses under Section 73 of the Income Tax Act, 1961
Facts of the
Case:
The assessee, Ashok Mittal, in the return for A.Y. 2000-01, set off
carried forward speculation losses from A.Y. 1998-1999 (75,39,186/-) and A.Y. 1999-2000 (14,43,625/-)
against the curr...
The Commissioner of Income Tax-XVI v. Sh. Ikuju Yabuki & Connected Matters – Delhi High Court on Taxability of Employer-Paid Taxes, Social Security Contributions and Non-Monetary Perquisites under Sections 10(10CC) & 17 of the Income Tax Act, 1961
Facts of the
CaseVarious expatriate employees of foreign companies
were deputed or seconded to India for employment with Indian subsidiaries or
Indian operations of foreign entities. Under employment arrangements:
E...
Commissioner of Income Tax-XVI vs Shri Toshihoru Sunahara | Taxability of Salary Income of Expatriate Employees and Residential Status under the Income Tax Act – Delhi High Court
Facts of the CaseThe appeals were filed by the Revenue against
several expatriate employees and related entities, including Shri Toshihoru
Sunahara. The controversy centered around the tax treatment of salary income
a...
M/S Jay Bharat Maruti Ltd vs. Asstt. Commissioner of Income Tax & Ors – Reassessment Notice under Section 148 of the Income Tax Act, 1961
Facts of the
CaseThe petitioner, M/S Jay Bharat Maruti Ltd,
filed a writ petition challenging the notice dated 30.08.2011 issued
under Section 148 of the Income Tax Act, 1961, for the assessment year 2007-08.
The pet...
Commissioner of Income Tax vs Jaswinder Singh Ahuja: Treatment of Stock Options under Section 271(1)(c) of the Income Tax Act, 1961
Facts of the
Case:The respondent, Jaswinder Singh Ahuja, was employed
with M/s Cadence Design Systems India Pvt. Ltd. As part of his employment, he
received stock options under an agreement dated 17.09.1992 with Caden...
Commissioner of Income Tax-XI vs Delhi Housing & Finance Corporation | Delhi High Court on Adoption of Circle Rate over Unsupported Inspector’s Report for Property Valuation – AY 2003-04 (ITA No. 38/2013)
Facts of the CaseThe
Revenue challenged the order passed by the Income Tax Appellate Tribunal
concerning valuation of two plots sold by Delhi Housing & Finance
Corporation during Assessment Year 2003-04. The prope...
Commissioner of Income Tax-XVI vs Sojitz Corporation as Agent [Delhi High Court] – Taxability of Salary Income, Foreign Expatriate Employees and Interpretation of Income Tax Act Provisions
Facts of the
CaseThe matter arose from a series of appeals filed by
the Income Tax Department concerning foreign employees and foreign corporations
operating through agents in India. The dispute centered upon whether ...
Section 115J of the Income Tax Act, 1961 – Treatment of Provision for Bonus and Bad & Doubtful Debts as Ascertained Liability: O.B.C. v. Commissioner of Income Tax-1 & Anr.
Facts of the Case
The
appeal under Section 260A of the Income Tax Act, 1961 was filed by the
assessee challenging the order of the Income Tax Appellate Tribunal
concerning Assessment Year 1989–90.
...
E.I. DuPont India Pvt. Ltd. & Anr. vs Deputy Commissioner of Income Tax – Section 148 & 147, Income Tax Act, 1961 | Delhi High Court
Facts of the Case:
The writ petition W.P.(C) 4507/2012 was filed by E.I. DuPont India Pvt. Ltd.
& Anr. against the Deputy Commissioner of Income Tax,
challenging the notice dated 27.03.2012 issued under Section 14...
Commissioner of Income Tax-XVI vs. Sh. Yashimitsu Zautsu | Delhi High Court | Taxability of Salary Income of Expatriate Employees and Interpretation of Section 9(1)(ii) of Income Tax Act
Facts of the
CaseThe Revenue preferred several Income Tax Appeals
involving expatriate employees and foreign personnel working in India. The
principal controversy centered around whether remuneration and related
empl...