Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Income Tax Department vs Respondent Directors of Company – Discharge of Director Upheld for Absence of Evidence Showing Responsibility for Day-to-Day Affairs under Income Tax Prosecution Provisions
Facts of the
CaseThe prosecution related to
delayed filing of income tax returns by respondent company for Assessment Year
1988-89.The return was allegedly filed
with a delay exceeding twelve months.Criminal pr...
Commissioner of Income Tax v. M/s Nath Bros. Exim International – Penalty under Section 271(1)(c) Cannot Be Levied Merely for Making an Unsustainable Claim Despite Full Disclosure of Facts | Delhi High Court
Facts of the CaseThe Revenue challenged the order of the Income Tax Appellate
Tribunal (ITAT), Delhi Bench ‘B’, whereby the penalty imposed upon the assessee
under Section 271(1)(c) of the Income-tax Act, 1961 was ...
Commissioner of Income Tax (Central)-1, New Delhi vs Ved Prakash Choudhary – Rebuttable Presumption under Section 132(4A) and Deletion of Addition under Section 69 for Alleged Unexplained Expenditure Based on Uncorroborated MOUs
Facts of the
Case
A search operation was conducted at the residence of Ved Prakash
Choudhary on 10 February 2000.
During the search, two Memorandums of Understanding dated 1 March
1999 were recover...
Director of Income Tax (Exemptions) vs Dalmia Shiksha Prathishthan – Educational Institution Entitled to Exemption under Section 10(22) Despite Incidental Income and Investment of Funds in Non-Governmental Entities
Facts of the
Case
Dalmia Shiksha Prathishthan was a trust engaged in imparting
education through four educational institutions located in Rajasthan and
Orissa.
The trust had been registered under S...
Commissioner of Income Tax vs M/s E Funds International India Pvt. Ltd. – Allowability of Business Expenditure Where Business Had Commenced Though No Operational Revenue Was Earned | Section 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee company, M/s E Funds International India Pvt.
Ltd., was incorporated on 14 July 1997 and was engaged in the business of
information technology services, including software development, con...
Commissioner of Income Tax, Delhi-VII vs Shri Vivek Dougall – Non-Compete Fee Already Disclosed in Regular Return Cannot Be Treated as Undisclosed Income in Block Assessment under Sections 158B(b) and 158BC of the Income-tax Act, 1961
Facts of the
Case
Shri Vivek Dougall was one of the promoters of Atul Glass
Industries Limited (AGIL) and Maharashtra Glass & Agro Limited
(MGAL).
A French company, Sekruti Saint Gobain (SSB), intend...
Commissioner of Income Tax vs Escorts Tractors Ltd. – Deductibility of Non-Convertible Debenture Issue Expenses and Applicability of Section 35D of the Income-tax Act, 1961
Facts of the CaseThe assessee, M/s Escorts Tractors Ltd., incurred expenditure
of ₹38,33,681 in connection with the rights issue of non-convertible debentures
during the Assessment Year 1995-96. The assessee claimed ...
Commissioner of Income Tax, Delhi-VI vs T.E.I. Technologies (Pvt.) Ltd. – Technical Support Fee Held Revenue Expenditure and Not Capital Expenditure under the Income-tax Act, 1961
Facts of the
Case
T.E.I. Technologies (Pvt.) Ltd. entered into a joint venture
arrangement with Tyco Asia Investment Ltd. and Elentec Co. Ltd.
The joint venture was formed for manufacturing CRT sockets,
...
Abhinav Bajaj v. Income Tax Officer – Criminal Prosecution under Section 276B Quashed Due to Wrong Assessment Year Mentioned in Complaint | Delhi High Court (2006)
Facts of the CaseThe Income Tax Department filed a criminal
complaint against four accused persons under Section 276B of the Income-tax
Act, 1961 alleging failure to deposit tax deducted at source (TDS) with the
Incom...
Narinder Jeet Kanwar vs Commissioner of Income Tax – Section 260A of the Income Tax Act, 1961 | Bogus Share Transactions and Capital Gains Claim Rejected
Facts of the CaseThe assessee, Narinder Jeet Kanwar, challenged the order of
the Income Tax Appellate Tribunal relating to Assessment Year 1997-98. The
assessee claimed to have entered into share sale transactions invo...