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Principal Commissioner of Income Tax, Central-2 vs Sunny Infraprojects Ltd. & Ors. | Delhi High Court | Scope of Section 153C in Absence of Incriminating Material
Facts of the CaseThe Revenue filed four appeals under Section 260A of the
Income Tax Act against a common order of the ITAT whereby additions made
against the assessees were deleted. The dispute arose from a search con...
Commissioner of Income Tax vs Pinaki Misra & Sangeeta Misra | Delhi High Court | Block Assessment Cannot Include Already Disclosed Income under Section 158BC
Facts of the
CaseThe Income Tax Department conducted a search and
seizure operation under Section 132 at the residence of Pinaki Misra in
November 1996. During the block assessment proceedings, the Assessing Officer
...
Delhi High Court | Commissioner of Income Tax vs. Sangeeta Mishra (2017) – Scope of Block Assessment, Undisclosed Income & Search-Based Tax Additions under the Income-tax Act, 1961
Facts of the
CaseThe Revenue initiated proceedings arising out of a search
and seizure operation conducted under Section 132 of the Income-tax Act. During
the course of search, certain documents and materials were rec...
Principal Commissioner of Income Tax, Central-2 vs. Sunny Infraprojects Ltd. & Ors. (Delhi High Court) – Scope of Section 153C Reassessment in Absence of Incriminating Material | Addition on Share Capital and Share Premium Deleted
Facts of the CaseA search and seizure operation was conducted on 10 January
2012 in the Minda Group. During the search, one Santosh Kumar Jain,
alleged to be an accommodation entry operator, was examined and initially
...
Pr. Commissioner of Income Tax-4 vs. Icon Satellite & Telecom Pvt. Ltd. | Delhi High Court on Disallowance of Related Party Discount under Section 40A(2)(b) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, Icon Satellite & Telecom Pvt.
Ltd., had entered into business transactions with its sister concern
amounting to approximately ₹232.67 crores out of its total turnover of ₹311.91
...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Delhi High Court on Allowability of Demurrage & Wharfage Charges, Actuarial Provisions for Post-Retirement Benefits, and Taxability of Notional Interest under the Income Tax Act
Facts of the CaseNational Fertilizers Ltd. claimed deduction of demurrage and
wharfage charges incurred during its business operations for Assessment Years
2006-07 to 2009-10. The Revenue disallowed the expenditure by ...
Li & Fung India Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. Delhi High Court Sets Aside TPO’s Fresh Comparable Selection Beyond ITAT Remand Scope under Transfer Pricing Provisions – Scope of Remand Cannot Be Expanded for Fresh ALP Determination
Facts
of the CaseLi & Fung India Pvt. Ltd.
was engaged in providing sourcing support services relating to garments,
handicrafts, leather products, and similar products to its Associated
Enterprises and charged a ...
Principal Commissioner of Income Tax, Central-2 vs Sunny Infraprojects Ltd. & Ors. | Scope of Section 153C and Requirement of Incriminating Material for Assessment Reopening under Income Tax Act, 1961
Facts of the CaseA search and seizure operation was conducted on 10 January
2012 in the case of the Minda Group. During the course of the
search, Mr. Santosh Kumar Jain, alleged to be an entry operator, was
exam...
Venu Charitable Society & Anr. vs Director General of Income Tax Exemption under Section 10(23C)(via) of the Income Tax Act, 1961 cannot be denied merely because a charitable hospital charges fees or earns incidental surplus – Delhi High Court
Facts of the
CaseThe petitioner society was registered under the Societies
Registration Act, 1860 and established with the principal object of
rendering comprehensive eye care services through its hospital, Venu Eye
...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Deductibility of Demurrage & Wharfage Charges, Actuarial Provision for Post-Retirement Benefits, and Taxability of Notional Interest under Sections 37(1), 43B & 260A of the Income Tax Act
Facts of the CaseNational Fertilizers Ltd., the assessee, had claimed deduction
towards demurrage and wharfage charges incurred during the course of business
operations. The Revenue disallowed the claim by treating suc...