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Commissioner of Income Tax-XII vs. Subodh Gupta – Delhi High Court Upholds 8% Net Profit Estimation Despite Section 40A(3) Disallowance and Missing Books of Accounts under Rule 6DD(g)
Facts of the
Case
The assessee filed return of income for Assessment Year 2009–10
declaring income of Rs.35,21,970.
During scrutiny assessment, the Assessing Officer disallowed
expenditure amounting to...
Commissioner of Income Tax Delhi-2 vs Compro Technologies Pvt. Ltd.: Delhi High Court Upholds Deletion of Penalty under Section 271(1)(c) for Bona Fide Chartered Accountant Error in MAT Computation under Section 115JB
Facts of the
CaseThe Revenue filed an appeal challenging the order
of the Income Tax Appellate Tribunal deleting penalty imposed under Section
271(1)(c) of the Income Tax Act, 1961 against Compro Technologies Pvt. Ltd...
Commissioner of Income Tax-X vs Amar Nath Virender Kumar | Delhi High Court | Addition under Section 69A cannot be sustained merely on coded diary entries without corroborative evidence and cross-examination
Facts of the
CaseSearch and seizure operations under Section 132 of
the Income Tax Act, 1961 were conducted on 15 December 2004 in the case of Brij
Mohan Gupta. During the search, incriminating diaries, loose papers a...
Commissioner of Income Tax vs. M/s Sidhartha Securities and Traders Ltd. – Whether Journal Entries Without Cash Movement Attract Penalty under Sections 269SS and 271D of the Income Tax Act, 1961 | Delhi High Court
Facts of the
Case
The Revenue alleged that the respondent assessee had accepted an
unsecured loan amounting to Rs. 8,52,71,500 from M/s Oswal Agro Mills
Ltd., otherwise than through account payee cheque or...
Commissioner of Income Tax v. M/s National Clothing Co. – Penalty under Sections 269SS & 271D of Income Tax Act on Journal/Book Entries without Cash Transaction
Facts of the
Case
The assessee had recorded loan-related entries of ₹33,75,842 from
M/s Shakuntla Export House Pvt. Ltd. and ₹20,00,000 relating to K.N.
Bhalla.
The Assessing Officer rejected the ass...
AVTEC Limited vs Deputy Commissioner of Income Tax – Reassessment under Sections 147 & 148 of the Income Tax Act Beyond Four Years Invalid in Absence of Failure to Make Full and True Disclosure | Delhi High Court
Facts of the
Case
The petitioner, AVTEC Limited, had originally undergone assessment
under Section 143(3) of the Income Tax Act on 24.12.2008 for Assessment
Year 2006-07.
Subsequently, a notice dated 28....
AVTEC Limited vs Deputy Commissioner of Income Tax (Delhi High Court) – Reopening of Assessment under Sections 147 & 148 Invalid in Absence of Failure to Disclose Material Facts
Facts of the
Case
The petitioner, AVTEC Limited, had originally undergone assessment
under Section 143(3) of the Income-tax Act on 24.12.2008 for Assessment
Year 2006–07.
Subsequently, a notice dated 2...
Dharamshila Cancer Foundation and Research Centre vs Commissioner of Income Tax (TDS) & Another – Delhi High Court on Section 197 Certificate for Nil TDS Rate and Timely Disposal of Applications under the Income-tax Act, 1961
Facts of the
CaseDharamshila Cancer Foundation and Research Centre
filed a writ petition concerning the issuance of a certificate under Section
197 of the Income-tax Act, 1961. The petitioner contended that TDS on its...
Commissioner of Income Tax–9 vs Narain Dass Taneja | Reassessment u/s 147 & Notice u/s 148 Cannot Be Sustained Where Full and True Disclosure Was Made During Original Assessment | Delhi High Court
Facts of the
Case
The assessee filed return of income for Assessment Year 2004–05
declaring a loss of ₹6,21,629.
Original assessment was completed under Section 143(3) on
17.11.2006.
During the ori...
Commissioner of Income Tax, Delhi-IV vs Shiv Raj Gupta | Taxability of Non-Compete Fee under Section 28(ii) of the Income Tax Act – Delhi High Court
Facts of the Case
Shri Shiv Raj Gupta was Chairman-cum-Managing Director of M/s
Central Distillery and Breweries Ltd. (CDBL), a listed public company
engaged in manufacturing and sale of IMFL and beer.
Th...