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Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Allowability of Demurrage & Wharfage Charges, Actuarial Provision for Post-Retirement Benefits and Taxability of Notional Interest under Sections 37(1), 43B & 260A of the Income Tax Act, 1961
Facts of the CaseThe Revenue filed four appeals before the Delhi High Court
against the orders passed by the Income Tax Appellate Tribunal relating to
Assessment Years 2006-07 to 2009-10.The dispute primarily involved ...
Principal Commissioner of Income Tax, Central-2 vs Sunny Infraprojects Ltd. & Ors. | Delhi High Court on Section 153C – Necessity of Incriminating Material for Valid Assessment Proceedings under Income Tax Act
Facts of the CaseA search and seizure operation was conducted in the case of
the Minda Group on 10 January 2012. During the search, the statement of
one Santosh Kumar Jain, alleged to be an accommodation entry operator...
Rakesh Raj and Associates Vs. Commissioner of Income Tax, Central-II & Anr. | Delhi High Court on Re-determination of Special Audit Fees under Section 142(2D) of the Income Tax Act, 1961
Facts of the
CaseThe petitioner firm was appointed by the Income Tax
Department to conduct a special audit covering seven assessment years of
Micromax Informatics Limited.The audit involved extensive scrutiny an...
Principal Commissioner of Income Tax, Central-2 vs Sunny Infraprojects Ltd. & Ors. | Delhi High Court | Scope of Section 153C in Absence of Incriminating Material
Facts of the CaseThe Revenue filed four appeals under Section 260A of the
Income Tax Act against a common order of the ITAT whereby additions made
against the assessees were deleted. The dispute arose from a search con...
Commissioner of Income Tax vs Pinaki Misra & Sangeeta Misra | Delhi High Court | Block Assessment Cannot Include Already Disclosed Income under Section 158BC
Facts of the
CaseThe Income Tax Department conducted a search and
seizure operation under Section 132 at the residence of Pinaki Misra in
November 1996. During the block assessment proceedings, the Assessing Officer
...
Delhi High Court | Commissioner of Income Tax vs. Sangeeta Mishra (2017) – Scope of Block Assessment, Undisclosed Income & Search-Based Tax Additions under the Income-tax Act, 1961
Facts of the
CaseThe Revenue initiated proceedings arising out of a search
and seizure operation conducted under Section 132 of the Income-tax Act. During
the course of search, certain documents and materials were rec...
Principal Commissioner of Income Tax, Central-2 vs. Sunny Infraprojects Ltd. & Ors. (Delhi High Court) – Scope of Section 153C Reassessment in Absence of Incriminating Material | Addition on Share Capital and Share Premium Deleted
Facts of the CaseA search and seizure operation was conducted on 10 January
2012 in the Minda Group. During the search, one Santosh Kumar Jain,
alleged to be an accommodation entry operator, was examined and initially
...
Pr. Commissioner of Income Tax-4 vs. Icon Satellite & Telecom Pvt. Ltd. | Delhi High Court on Disallowance of Related Party Discount under Section 40A(2)(b) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, Icon Satellite & Telecom Pvt.
Ltd., had entered into business transactions with its sister concern
amounting to approximately ₹232.67 crores out of its total turnover of ₹311.91
...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Delhi High Court on Allowability of Demurrage & Wharfage Charges, Actuarial Provisions for Post-Retirement Benefits, and Taxability of Notional Interest under the Income Tax Act
Facts of the CaseNational Fertilizers Ltd. claimed deduction of demurrage and
wharfage charges incurred during its business operations for Assessment Years
2006-07 to 2009-10. The Revenue disallowed the expenditure by ...
Li & Fung India Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. Delhi High Court Sets Aside TPO’s Fresh Comparable Selection Beyond ITAT Remand Scope under Transfer Pricing Provisions – Scope of Remand Cannot Be Expanded for Fresh ALP Determination
Facts
of the CaseLi & Fung India Pvt. Ltd.
was engaged in providing sourcing support services relating to garments,
handicrafts, leather products, and similar products to its Associated
Enterprises and charged a ...