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Commissioner of Income Tax vs. M/s Sanwa Bank Ltd. – Section 271C Penalty Deletion Upheld Due to Reasonable Cause for Non-Deduction of TDS on Expatriate Salaries Paid Outside India Under Section 273B
Facts of the CaseThe Revenue (Appellant) filed an appeal under Section 260A of
the Income Tax Act, 1961, challenging an order passed by the Income Tax
Appellate Tribunal (ITAT). The ITAT had deleted the penalty levied ...
CIT vs Moni Kumar Subba & Another – Determination of Annual Letting Value (ALV) and Inclusion of Notional Interest on Interest-Free Security Deposit under Section 23(1)(a) of the Income-tax Act, 1961
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order of the Income Tax Appellate Tribunal (ITAT)
relating to the determination of the Annual Letting Value (ALV) of a house
pro...
M/s Indian Management Advisors & Leasing Pvt. Ltd. (Now Known as Spicecorp Pvt. Ltd.) vs Commissioner of Income Tax, Delhi – Depreciation on Soft Drink Bottles, Lease vs Finance Arrangement | Section 32, Income Tax Act
Facts of the CaseThe assessee, M/s Indian Management Advisors & Leasing
Pvt. Ltd., filed its return for Assessment Year 1991-92 and claimed 100%
depreciation on soft drink bottles allegedly leased to M/s Coolade Be...
Commissioner of Income Tax, Delhi vs M/s Vibros Organics Ltd. – Penalty under Section 271(1)(c) for Disallowance of Depreciation Claim – Sections 32, 271(1)(c) & 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee company was engaged in the business of
manufacturing chemicals. For Assessment Year 2001-02, it declared a loss and
claimed depreciation amounting to Rs. 32,83,710 on its plant and machine...
M/s Shiva Gases vs Commissioner of Income Tax (Delhi High Court) – Disallowance of Loss on Sale of Shares to Sister Concerns – Genuine Transaction vs Colourable Device – Assessment Year 1996-97
Facts of the
CaseThe assessee, M/s
Shiva Gases, claimed a loss of Rs. 45,50,000 on the sale of its
investment in shares of M/s Bhagwati Gases Limited. The shares were sold to six
sister concerns whose directors were ...
Commissioner of Income Tax, Delhi vs M/s Vardhman Estate Pvt. Ltd. – Service of Notice under Section 143(2), Limitation Period and Distinction between “Issue” and “Service” of Notice
Facts of the CaseThe assessee, M/s Vardhman Estate Pvt. Ltd., filed its return
of income on 31.10.2001. Under Section 143(2) of the Income-tax Act, 1961, the
notice was required to be served upon the assessee on or bef...
Commissioner of Income Tax (TDS) vs M/s Continental Carriers Pvt. Ltd. – TDS on Ocean Freight & Inland Haulage Charges (IHC) Paid to Agents of Non-Resident Shipping Companies – Sections 172, 194C & 201(1) of the Income-tax Act, 1961
Facts of the CaseThe respondent-assessee, M/s Continental Carriers Pvt. Ltd.,
was engaged in the business of freight forwarding. During a survey, the
Department found that the assessee had made payments towards Ocean F...
Commissioner of Income Tax (TDS) vs. M/s Continental Carriers Pvt. Ltd. (Delhi High Court) – Whether TDS under Section 194C Applies to Ocean Freight and Inland Haulage Charges Paid to Agents of Non-Resident Shipping Companies
Facts of the CaseThe respondent-assessee, M/s Continental Carriers Pvt. Ltd.,
was engaged in the business of freight forwarding. During a survey conducted by
the Income Tax Department, it was noticed that the assessee ...
Commissioner of Income Tax v. Bhan Textiles Pvt. Ltd. – Validity of Service of Notice under Section 143(2) of the Income-tax Act, 1961 Beyond the Prescribed Limitation Period
Facts of the CaseThe
assessee, M/s Bhan Textiles Pvt. Ltd., filed its return of income on
20.11.1996. The Assessing Officer issued a notice under Section 143(2) of the
Income-tax Act on 27.11.1997 and dispatched...
Commissioner of Income Tax (TDS) vs M/s Alcatel India Ltd. – Penalty under Section 271C for Failure to Deduct TDS on Expatriate Salary Components | Delhi High Court
Facts of the CaseThe assessee, M/s Alcatel India Ltd., was an Indian company
employing expatriate employees who had been seconded to India by its parent
company, CIT Alcatel, France. These employees received salary pay...