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Commissioner of Income Tax vs M/s Honeywell Dace India Ltd. (Delhi High Court) – Penalty under Section 271(1)(c) Not Leviable Merely Because Loss Claim Could Not Be Substantiated
Facts of the CaseFor Assessment Year 2001-02, the respondent-assessee filed its
return declaring a loss. The return included a claim relating to loss arising
from the sale of shares.The Assessing Officer disallowed the...
Commissioner of Income Tax vs. M/S NHK Japan Broadcasting Corp. | Section 271C Penalty Deletion for Non-Deduction of TDS under Section 192 on Expatriate Salary: Delhi High Court
Facts
of the Case
The assessee, M/S
NHK Japan Broadcasting Corp., did not deduct tax at source (TDS) under Section
192 of the Income-tax Act, 1961, on the retention money paid outside India to
Japanese expatriates...
Sanjeev Malhotra Vs. The Commissioner of Income Tax: Actual Export and Custom Clearance as Conditions Precedent for Claiming Deduction Under Section 80HHC of the Income Tax Act, 1961
Facts of the Case
For
the Assessment Year 1998-99, the appellant-assessee (Sh. Sanjeev Malhotra)
filed an income tax return declaring an income of ₹11,56,780/- after
claiming a substantial deduction...
Commissioner of Income Tax vs. M/s TEI Quebecor Printing Ltd. (2006) – TDS on Salary under Section 192 Not Applicable Without Actual Payment of Salary | Sections 192, 201(1) & 201(1A) Income Tax Act
Facts of the CaseM/s TEI Quebecor Printing Ltd., a joint venture
company, employed Mr. Lester Garnett, a Canadian national, on a fixed
remuneration package that included rent-free accommodation, a car with driver...
Commissioner of Income Tax, Delhi v. M/s Chitra Utsav Video P. Ltd. (2005): Applicability of Penalty under Section 271(1)(c) of the Income Tax Act, 1961 on Assessed Losses Post-1976 Explanation 4 Amendment
Facts of the
CaseThe Revenue
(Commissioner of Income Tax, Delhi) filed an appeal against the order of the
Income Tax Appellate Tribunal (ITAT) concerning the assessee, M/s Chitra Utsav
Video P. Ltd. The ITAT had dele...
Director of Income Tax (Exemption) vs M/s Eternal Science of Man’s Society (Delhi High Court) – Accumulation of Income for Multiple Charitable Objects Permissible under Section 11(2) of the Income-tax Act
Facts of the CaseThe respondent-assessee, a charitable society/trust,
accumulated a portion of its income for six specified charitable objects out of
a total of twenty-two charitable objects contained in its memorandum...
CIT v. M/s Samman Steel & Rolling Mill: Maintainability of Penalty Under Section 271(1)(c) on Loss Returns and the Impact of Explanation 4 Post-1976 Amendment
Facts of the CaseThe Revenue filed an appeal (ITA 1060/2005) against the order
of the Income Tax Appellate Tribunal (ITAT) before the High Court of Delhi. The
ITAT had deleted the penalty imposed on the assessee, M/s S...
Commissioner of Income Tax vs. M/s Coral Newsprint Ltd. — Whether Penalty Under Section 271(1)(c) of the Income Tax Act, 1961 Can Be Deleted Merely Because the Total Income Is Assessed at a Loss/Minus Figure After the Insertion of Explanation 4?
Facts of the Case
The
revenue filed an appeal (ITA 1112/2005) before the High Court of Delhi
against the order of the Income Tax Appellate Tribunal (ITAT).
The
ITAT had deleted the penalty imposed o...
M/s International Marketing Ltd. vs Income Tax Officer, Company Ward (Delhi High Court) – Interest on Surplus Funds Taxable as Income from Other Sources under Section 56 of the Income Tax Act, 1961 | No Business Activity During Assessment Year
Facts of the CaseThe assessee-company had not carried on any business activity
during the relevant assessment year. However, it had parked its surplus funds
with various companies and earned interest income therefrom.T...
Commissioner of Income Tax vs. M/S Samridhi Steels P. Ltd. — Whether Penalty Under Section 271(1)(c) Can Be Deleted Merely Because the Total Income of the Assessee Was Assessed at a Minus Figure or Loss After the 1.4.1976 Amendment (Explanation 4)?
Facts of the Case
Parties
Involved: The Commissioner of Income Tax
(Appellant/Revenue) vs. M/S Samridhi Steels P. Ltd. (Respondent/Assessee).
Assessment
Framework: The case arose from an Income Tax ...