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Commissioner of Income Tax-VI vs Video Electronics Pvt. Ltd. | Taxability of Lease Rental Income on Accrual Basis and Non-Applicability of Section 32AB – Delhi High Court
Facts of the CaseThe Revenue preferred appeals under Section 260A of the Income
Tax Act against an order passed by the Income Tax Appellate Tribunal concerning
Assessment Years 1995-96, 1996-97, and 1997-98. The assess...
Commissioner of Income Tax v. Canon India Private Limited – Treatment of Unutilized Subsidy, AMP Expenditure Adjustment and Transfer Pricing under Sections 92CA, 143(3) & 144C of the Income Tax Act, 1961
Facts of the
CaseCanon India
Private Limited, a wholly owned subsidiary of Canon Singapore Pvt. Ltd., was
engaged in the business of purchase and resale of Canon products including
photocopiers, printers, scanners an...
Commissioner of Income Tax v. Canon India Private Limited – Taxability of Unutilized Subsidy, AMP Expenditure Adjustment and Transfer Pricing under Sections 92CA, 143(3) & 144C of the Income Tax Act
Facts of the CaseCanon India Private Limited, a wholly owned subsidiary of
Canon Singapore Pvt. Ltd., was engaged in the purchase and resale of Canon
products such as printers, photocopiers, scanners and cameras in Ind...
Commissioner of Income Tax-II vs Modi Rubber Ltd. – Delhi High Court on Section 43B, Capital vs Revenue Expenditure for Machinery Replacement, and Commercial Expediency under the Income Tax Act, 1961
Facts of the CaseThe assessee, Modi Rubber Ltd., filed its return for
Assessment Year 2001–02 declaring losses. During assessment proceedings, the
Assessing Officer made several additions and disallowances including:...
Commissioner of Income Tax (Central)-I vs. R.J. Corp Ltd. – Analysis of ‘Urban Land’ Exclusion under Section 2(ea) of the Wealth Tax Act
Facts of the CaseThe Revenue (Petitioner) appealed against the Income Tax
Appellate Tribunal (ITAT) order dated September 1, 2014, concerning Assessment
Year (AY) 2004-05. The Assessing Officer (AO) had added Rs. 4,31,...
Commissioner of Income Tax-1 vs. Ansal Land Mark Township (P) Ltd.: A Comprehensive Legal Analysis on the Retrospective Applicability of the Second Proviso to Section 40(a)(ia) of the Income Tax Act
Facts of the CaseDuring the relevant assessment years, the Respondent, Ansal
Land Mark Township (P) Ltd., made payments to Ansal Properties and
Infrastructure Ltd. (APIL). The Assessing Officer initiated proceedings,
...
"Scope and Limitations of Block Assessment under Section 158BC of the Income Tax Act: A Case Analysis of Vishwadharmayatan Trust & Anr. vs. ACIT"
Facts of the CaseThe case pertains to the block assessment period from 1st
April 1986 to 1st November 1996, following a search operation conducted by the
Income Tax Department on 1st November 1996 at the premises of Vi...
Commissioner of Income Tax (Central)-III vs. Kabul Chawla: Scope of Section 153A Assessment and the Absolute Requirement of Incriminating Material for Completed Assessment Years
1. Facts of the Case
Search
Operations: A search and seizure operation under Section
132 of the Income Tax Act, 1961, was carried out on November 15, 2007,
targeting BPTP Ltd. (a prominent real estate...
PCIT vs. Smt. Kusum Gupta: Deletion of Search Additions under Section 153A in the Absence of Incriminating Material
Facts of the Case
Search
Operations: A search operation was conducted on February
7, 2007, under Section 132 of the Income Tax Act, 1961.
Issuance
of Notices: Following the search, notices were
...
Section 260A Income Tax Act Appeal: Principal Commissioner of Income Tax v. Rajiv Gupta
Facts of the CaseThe Appellant, the Principal Commissioner of Income Tax
(Revenue Authorities), preferred two independent statutory income tax appeals
designated as ITA No. 413/2015 and ITA No. 445/2015 before the High...