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Shanghai Electric Group Co. Ltd. vs. Director of Income Tax-II: Case on the Remand of Disputed Tax Assessment Orders under Section 263 and Tribunal’s Role in Reviewing Contract Scope for AY 2010-11
Facts of the
Case:
Shanghai Electric Group Co. Ltd. (the assessee) is a company
engaged in offshore services. The core issue revolves around the Income
Tax Assessment for the Assessment Year (AY) 2010-11, ...
Commissioner of Income Tax-VI vs. Wellworth Construction Udyog Ltd. - Section 68, Income Tax Act, 1961 - Share Application Money & Creditworthiness
Facts of the Case:
The Revenue, in this case, appealed against the order of the Income Tax
Appellate Tribunal (ITAT) dated December 20, 2013. The dispute involved an
amount of ₹1.65 crores, which the assessee had re...
Joint Investments Pvt Ltd vs. Commissioner of Income Tax – Section 14A, Rule 8D Disallowance | Court Ruling on Tax Exempt Income and AO’s Disallowance Process
Facts of the
Case:The case revolves around the appeal of Joint
Investments Pvt Ltd against the decision of the Income Tax Appellate
Tribunal (ITAT), which upheld the decision of the Assessing Officer (AO) for AY
2009...
Bikram Singh vs. Deputy Commissioner of Income Tax - Section 226(3) of Income Tax Act, 1961: Garnishee Order and Payment Dispute - High Court Ruling on Stay of Demand
Facts of the Case:
The petitioner, Bikram Singh, was assessed under Section 68 of the Income Tax
Act for Assessment Year 2011-12, with a demand raised for ₹4,39,71,545. The
assessing officer added ₹3,25,50,000 und...
"Commissioner of Income Tax-8 (Erstwhile CIT-III) vs Soyuz Industrial Resources Ltd.: Reassessment Proceedings and Sanctioning Authority under Section 151 of the Income Tax Act"
Facts of the Case:
In the matter of the assessment for the Financial Year 2002-03, the petitioner,
Commissioner of Income Tax-8 (Erstwhile CIT-III), filed an appeal
against Soyuz Industrial Resources Ltd. regarding th...
Director of Income Tax-II vs. M/s Pioneer Overseas CorporationDelhi High Court Upholds ITAT Order Deleting Penalty Proceedings: No Substantial Question of Law Arises under Section 271(1)(c) of the Income Tax Act
Facts of the
CaseThe assessee, M/s Pioneer Overseas Corporation, had
originally declared certain income as agricultural income. However, the
Assessing Officer treated the same as business income and further made
addi...
JRD Stock Brokers (P) Ltd. vs. Commissioner of Income Tax-II: Penalty Under Section 158BFA(2) on Estimated Undisclosed Income
Facts of the CaseOn November 24, 2000, a search operation was
conducted at the office of JRD Stock Brokers (P) Ltd. and the residences
of its Directors, resulting in the seizure of books and documents. The assessee
in...
Director of Income Tax vs. British Airways PLC: Liability of Interest under Section 234B for Foreign Companies
Facts of the CaseThe respondent, British Airways PLC, is a
foreign entity incorporated under the laws of the United Kingdom and is engaged
in providing air transport services. The assessee disputed its tax liability
r...
Commissioner of Income Tax Delhi vs. Tony Electronics Ltd. | Does Assembling Amount to Manufacturing under Section 80HH, 80I & 80IA?
Facts
of the Case
The
assessee is a company engaged in the manufacturing of cassettes,
specifically Audio Magnetic Tapes (AMT).
During
the assessment years 1994-95 and 1995-96, the assessee ...
R.L. Traders vs. Income Tax Officer: Delhi High Court Ruling on Section 145(2) & GP Rate Estimation
Facts of the Case
The
assessee is engaged in the business of preparation and trading of Hing.
For
the Assessment Year (AY) 2010-11, the assessee filed a return declaring an
income of ₹3,15,210/-....