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Commissioner of Income Tax vs M/s India Crafts & Ors. | Retrospective Effect of Section 271(1B) on Penalty Initiation & Deemed Satisfaction
Facts of the Case
The
Batch of Appeals: A substantial batch of 31 appeals, led
by Commissioner of Income Tax v. M/s India Crafts (ITA No.
766/2006) and including various other corporate and individual...
Commissioner of Income Tax vs. M/s India Crafts (and Connected Matters) – Scope of Section 271(1B) and Deemed Satisfaction for Penalty Initiation Under the Income Tax Act
Facts of the CaseThe Division Bench of the Delhi High Court dealt with a large
batch of interconnected appeals, led by ITA No. 766/2006 (Commissioner of
Income Tax v. M/s India Crafts), alongside 30 other cognate matte...
Commissioner of Income Tax, Delhi-V vs. RBG Investment & Finance Ltd | Deductibility of Service Charges Under Section 37(1) of the Income Tax Act, 1961 for Financing Arrangements with Mutual Funds to Subscribe and Buy-Back Fully Convertible Debentures of Sister Concern
Facts of the Case
Assessee's
Profile and Shareholding: The assessee, RBG
Investment & Finance Ltd, held shares in its sister concern, Steel
Tubes India Ltd.
The
Rights Issue Offer: Steel ...
Commissioner of Income Tax, Delhi-V vs. RBG Investment & Finance Ltd: Allowance of Service Charges Paid under Financing Arrangements as Business Expenditures under Section 37(1) of the Income Tax Act, 1961
Facts of the Case
Assessee’s
Position & Opportunity: The Assessee (RBG
Investment & Finance Ltd) held shares in its sister concern, Steel
Tubes India Ltd. Consequently, it received a rights ...
Commissioner of Income Tax vs. M/s India Crafts (and Connected Matters): Retrospective Application of Section 271(1B) of the Income Tax Act, 1961 and the Statutory Legal Fiction of Deemed Satisfaction for Initiating Penalty Proceedings
Facts of
the Case
The
Parties and Appeals: The Revenue (Commissioner of Income
Tax) preferred a large batch of thirty-one interconnected statutory income
tax appeals before the High Court of De...
CIT v. Marubeni India P. Ltd.: No Section 201(1A) Interest on Bonafide Short-Deduction of TDS Under Section 192
Facts
of the Case·
The Assessee: M/s Marubeni India P. Ltd. (Respondent), a
private limited company incorporated in India, employs foreign nationals
(expatriate employ...
The Motor & General Finance Ltd., MGF India Ltd., Goodwill (India) Ltd., and MGM (India) Ltd. vs. Commissioner of Income Tax-VI, New Delhi (2009) | Scope of Section 244A of the Income-tax Act, 1961: Maintainability of Claims for Interest on Interest / Compensatory Interest on Tax Refunds Post Appellate Orders Modifying Scrutiny Assessments Under Section 143(3)
Facts of the Case:The assessees—comprising The Motor
& General Finance Ltd., MGF India Ltd., Goodwill (India) Ltd., and MGM
(India) Ltd.—filed their respective returns of income, wherein the tax paid
via Advan...
Commissioner of Income Tax v. M/S ITC Hotels Ltd. (ITA Nos. 778/2008, 779/2008, 780/2008, 814/2008 & 816/2008) – Whether Tips Collected and Distributed to Employees Attract TDS Obligations Under Section 192 and Default Liability Under Sections 201(1) and 201(1A) of the Income Tax Act, 1961: Delhi High Court Validates Employer’s Bona Fide Belief
Facts of the Case
The
Revenue (Income Tax Department) preferred appeals against a common order
passed by the Income Tax Appellate Tribunal (ITAT) dated July 27, 2007.
The
dispute pertained to multi...
The Motor & General Finance Ltd. vs. Commissioner of Income Tax-VI | Right to Interest on Interest under Section 244A of the Income Tax Act
Facts
of the CaseThe appellant-assessees, including M/s
The Motor & General Finance Ltd. and Goodwill India Ltd., filed their
returns of income tax and initially received refunds along with statutory
interest on ...
Commissioner of Income Tax vs. M/s ITC Hotels Ltd. | Section 192 & 201 of Income Tax Act: Whether Tips Collected from Customers and Distributed to Employees Attract TDS under Salary? – Bonafide Belief Negates 'Assessee in Default' Status
Facts of the Case
The
Revenue (Income Tax Department) preferred multiple appeals (ITA Nos.
778/2008 to 780/2008, 814/2008 & 816/2008) against a common order
passed by the Income Tax Appellate Trib...