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Commissioner of Income Tax, Delhi-VIII, New Delhi vs. Shri S.K. Katyal (2008) – Search Assessment Limitation under Sections 158BE, 132 & 132(3) of the Income Tax Act
Facts of the
Case
A search under Section 132 of the Income Tax Act was conducted at
the residential premises of Shri S.K. Katyal on 17.11.2000.
During the search, certain documents, cash, jewellery and a locke...
Commissioner of Income Tax (Central), New Delhi vs. Saraya Industries Ltd. – Penalty under Section 271(1)(c) Cannot Be Levied Merely for a Plausible Claim of Depreciation on Effluent Treatment Plant | Section 32 & Section 271(1)(c) of the Income-tax Act, 1961
Facts of the CaseThe assessee, Saraya Industries Ltd., claimed depreciation on
an effluent treatment/biogas plant for Assessment Year 1990-91.The Assessing Officer disallowed the depreciation claim on the
ground that t...
Commissioner of Income Tax, Delhi-IV, New Delhi vs. E.I. Dupont India Ltd. – Whether Provision for Doubtful Debts and Damaged Stock Can Be Added Back While Computing Book Profit Under Section 115JA of the Income-tax Act, 1961?
Facts of the CaseThe assessee, E.I. Dupont India Ltd., filed its return
declaring a loss of ₹5,21,75,080 while computing income of ₹2,62,30,750 under
Section 115JA of the Income-tax Act.During assessment proceeding...
Commissioner of Income Tax vs. Ram Niwas [Delhi High Court] – Scope of Section 69D of the Income-tax Act, 1961 and Determination of Whether a Document Constitutes a Hundi
Facts of the CaseA search was conducted by the Revenue authorities at the
premises of one Kamal Chand Jain. During the search, several documents alleged
to be hundis were found. One such document was found on the lette...
Commissioner of Income Tax, Delhi-IX vs. Harkaran Das Ved Pal (Delhi High Court) – Penalty under Section 158BFA(2) Cannot Be Levied Solely on Bona Fide Surrender Made to Buy Peace in Block Assessment Proceedings
Facts of the
CaseA search under Section 132 of the Income-tax Act
was conducted on the JMD Group of Companies. During the search, certain loose
papers allegedly containing entries relating to Harkaran Das Ved Pal were...
Commissioner of Income Tax-II vs Mantec Consultants (P) Ltd. – Deduction under Section 10A Allowed Though Claim Raised First Time Before CIT(A) | Delhi High Court
Facts of the
CaseThe assessee initially claimed deduction under
Section 80HHE of the Income-tax Act and filed Form No. 10CCAF along with its
return of income.During the appellate proceedings before the
Commissioner o...
DLF Universal Ltd. vs Commissioner of Income Tax (Delhi High Court) – Revaluation of Stock-in-Trade and Judicial Discipline Among Coordinate Benches of ITAT | Assessment Year 1992-93
Facts of the CaseThe assessee, DLF Universal Ltd., challenged the order dated
30 March 2007 passed by the Income Tax Appellate Tribunal (ITAT), Delhi Bench
'B', relating to Assessment Year 1992-93.The dispute arose on ...
Commissioner of Income Tax, Delhi-II vs. Metzeler Automotive Profiles India Ltd. (2008) – Royalty Paid for Technical Know-How Held as Revenue Expenditure | Delhi High Court
Facts of the CaseMetzeler Automotive Profiles India Ltd. had entered into an
arrangement with a foreign collaborator under which technical know-how was
provided to the assessee. Pursuant to the agreement, the assessee ...
Smt. Kavita Khandelwal (Nee Aggarwal) vs Commissioner of Income Tax, Delhi-VIII, New Delhi – Capital Gains Valuation as on 01.01.1964 and Rejection of Capitalisation Method under Section 256(1) of the Income-tax Act, 1961
Facts of the Case
The
assessee acquired two immovable properties through partial partition of an
HUF.
The
properties were subsequently sold.
For
capital gains computation, the assessee adopt...
Commissioner of Income Tax v. Assessee – Validity of Block Assessment Beyond Limitation Period under Section 158BE(1)(b) of the Income-tax Act, 1961 | Delhi High Court
Facts of the Case
A
block assessment was framed by the Assessing Officer for the block period
from 01.04.1990 to 17.11.2000.
The
assessee challenged the validity of the assessment on the ground that...