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Oriental Bank of Commerce vs Additional Commissioner of Income Tax (Delhi High Court, 2018) – Software Expenditure Held as Revenue Expenditure under Income Tax Act
Facts of the CaseThe assessee, Oriental Bank of Commerce, incurred
expenditure on acquisition of various categories of software for its banking
operations during the relevant assessment years. The Assessing Officer (AO...
Oriental Bank of Commerce vs Additional Commissioner of Income Tax – Delhi High Court Allows Appeals Referring to Earlier Judgment (ITA 415/2017, 414/2017 & 56/2018)
Facts of the CaseThe present matter involves multiple appeals filed by Oriental
Bank of Commerce, including its Central Accounts Office, against orders
passed by the Additional Commissioner of Income Tax. The appeals w...
PR. Commissioner of Income Tax Delhi-18 vs M/s N.S. Software (Firm) – Invalidity of Section 153C Proceedings Due to Defective Satisfaction Note (Delhi High Court)
Facts of the CaseThe assessee, M/s N.S. Software (Firm), was subjected to
proceedings following a search and seizure operation conducted under Section
132 in the Rajdurbar Group. During the search, a hard disk allegedl...
Arjun Malhotra vs Commissioner of Income Tax & Director of Income Tax vs Arjun Malhotra (Delhi High Court, 2018) – Section 48, 54F & 271(1)(c) – Capital Gains, Transfer of Shares & Fair Market Value Dispute
Facts of the Case
The
assessee, Arjun Malhotra, sold 1,00,000 shares of NIIT to
M/s Glad Investment Pvt. Ltd. and declared the date of transfer as 14.08.1997.
He
claimed exemption under Secti...
Kaushalya Devi (Deceased) through Legal Representatives vs Commissioner of Income Tax – Deduction of Liquidated Damages under Section 48 for Capital Gains Computation
Facts of the Case
The
assessee owned an immovable property in Adhchini, New Delhi.
Initially
entered into an agreement to sell (1989) with one purchaser and received
₹7,50,000 as advance.
Due
...
M/s Hilton Roulunds Ltd. vs Commissioner of Income Tax (Delhi High Court, 2018) – Lump Sum Trademark Payment: Capital or Revenue Expenditure under Section 37(1)?
Facts of the CaseThe appellant, M/s Hilton Roulunds Ltd., was a joint
venture company formed with foreign and Indian collaborators. It entered into a
Trademark License Agreement (1993) with Hilton Rubbers Ltd. (HRL),
...
M/s Hilton Roulunds Ltd. vs Commissioner of Income Tax – Deductibility of Trademark License Fee under Section 37(1) of Income Tax Act, 1961
Facts of the Case
The
assessee, M/s Hilton Roulunds Ltd., entered into a Trademark
License Agreement (1993) with Hilton Rubbers Ltd. granting exclusive
use of the trademark “HILTON” in India for m...
Arjun Malhotra vs Commissioner of Income Tax & Anr – Delhi High Court on Capital Gains Computation, Section 48, Section 54F, and Substitution of Fair Market Value
Facts of the CaseThe assessee, Arjun Malhotra, filed returns for AY
1998–99 and 1999–2000 declaring income including long-term capital gains
arising from sale of 1,00,000 shares of NIIT to M/s Glad Investment Pvt.
...
Commissioner of Income Tax vs M.S. Aggarwal (Delhi High Court) – Section 132, 158B, 158BB, 158BFA(2) | Bogus Gift vs Genuine Transaction in Block Assessment
Facts of the CaseThe present appeals were filed by the Revenue under Section
260A of the Income Tax Act, 1961 against the orders of the Income Tax Appellate
Tribunal (ITAT).
A search
and seizure operation unde...
Commissioner of Income Tax vs M.S. Aggarwal (Delhi High Court, 2018) – Bogus Gifts, Block Assessment & Section 158BFA(2) Penalty
Facts of the CaseThe case arose from search and seizure operations conducted
under Section 132 on 25.11.1999 on the assessee, M.S. Aggarwal. During the
search, incriminating documents revealed unaccounted business acti...