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
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. (Delhi High Court) – Validity of Slow-Moving Stock Valuation under Section 145 & Section 145A of the Income Tax Act
Facts of the CaseNational Fertilizers Ltd., a public sector undertaking
engaged in manufacturing and distribution of fertilizers, maintained inventory
including stores and spare parts. During the financial year relevan...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Delhi High Court Upholds Valuation of Slow-Moving and Obsolete Inventory under Section 145 & Section 145A of the Income Tax Act
Facts of the
CaseThe respondent-assessee, National Fertilizers Ltd.,
a public sector undertaking engaged in manufacturing and distribution of
fertilizers, maintained substantial inventory including stores and spare pa...
Delhi High Court | Penalty under Section 271(1)(c) read with Explanation 5 | Scope of Return Filed under Section 153A vis-à-vis Original Return under Section 139(1)
Facts of the CaseThe assessees had originally filed their returns
under Section 139(1) declaring certain income for Assessment Years 2005-06 and
2006-07.Subsequently, a search and seizure operation under
Section 132 w...
Pr. Commissioner of Income Tax-4 vs Gulbarga Associates (P) Ltd. | Delhi High Court on Section 68 of Income Tax Act | Addition on Share Capital and Burden of Proof
Facts of the
CaseThe Revenue preferred appeals against the assessee,
Gulbarga Associates (P) Limited, challenging the order of the Income Tax
Appellate Tribunal wherein additions made by the Assessing Officer under
S...
Delhi High Court on Penalty under Section 271(1)(c) read with Explanation 5 and Section 153A of the Income Tax Act, 1961 – Whether Additional Income Declared in Return Filed Pursuant to Search Automatically Attracts
Facts of the
CaseThe Revenue filed four appeals under Section 260A
challenging separate orders of the Income Tax Appellate Tribunal (ITAT)
concerning penalty proceedings under Section 271(1)(c) of the Income Tax Act.
...
Pr. Commissioner of Income Tax-19 vs. Shri Neeraj Jindal & Ankur Aggarwal (Delhi High Court) – Penalty under Section 271(1)(c) on Income Declared in Section 153A Return | Scope of Explanation 5 in Search Assessments
Facts of the
CaseThe assessees originally filed returns under
Section 139(1) declaring lower income for AYs 2005–06 and 2006–07.
Subsequently, a search and seizure operation under Section 132 was conducted on
the...
Pr. Commissioner of Income Tax (Central)-3 vs Suncity Projects Pvt. Ltd. | Delay Condonation Rejected for Failure to Explain 86 Days’ Delay under Section 260A of the Income Tax Act, 1961 | Delhi High Court
Facts of the
CaseThe Income Tax Department filed multiple appeals
under Section 260A of the Income Tax Act challenging the order of the Income
Tax Appellate Tribunal dated 21.03.2016. The appeals were filed with a del...
Pr. Commissioner of Income Tax, Central-3 vs Suncity Projects Pvt. Ltd. | Delay Condonation Rejected for Failure to Explain Each Day’s Delay | Delhi High Court | Section 260A Income Tax Act
Facts of the
CaseThe Income Tax Department filed multiple appeals
before the Delhi High Court against the order of the Income Tax Appellate
Tribunal dated 21.03.2016. However, there was a delay of 86 days in
fi...
Principal Commissioner of Income Tax-19 vs Shri Neeraj Jindal & Anr. | Delhi High Court | Penalty u/s 271(1)(c) on Income Declared in Return filed u/s 153A – Whether Mere Disclosure After Search Amounts to Concealment?
Facts of the CaseThe assessees had originally filed their returns
under Section 139(1) declaring lower income for AY 2005-06 and AY 2006-07.A search operation under Section 132 was conducted
in the JM Estate Developers...
Pr. Commissioner of Income Tax (Central-3) vs Suncity Projects Pvt. Ltd. | Delay Condonation Rejected for Failure to Explain 86 Days Delay | Delhi High Court | Section 260A of the Income Tax Act
Facts of the
CaseThe Revenue filed multiple appeals against the
order of the Income Tax Appellate Tribunal dated 21.03.2016. However, there was
a delay of 86 days in filing the appeals before the Delhi High Court.Appl...