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Principal Commissioner of Income Tax (Central)-1 v. Sahara India (Firm): Delhi High Court Upholds Deletion of Penalty under Sections 271D and 271E of the Income Tax Act, 1961
Facts of the CaseThe present matter arose from four appeals preferred by the
Revenue against a common order passed by the Income Tax Appellate Tribunal
(ITAT) concerning Assessment Years 2003–04 and 2004–05. The di...
Principal Commissioner of Income Tax (Central)-2 vs Index Securities Private Limited & Vidya Shankar Investment Private Limited (Delhi High Court) — Scope of Section 153C: Whether Non-Incriminating Documents Merely ‘Pertaining To’ Assessee Can Trigger Reassessment? Principal Commissioner of Income Tax (Central)-2 vs Index Securities Private Limited & Vidya Shankar Investment Private Limited | Delhi High Court | Section 153C, Section 68, Section 143(3), Section 260A of Income Tax Act
Facts of the
CaseThe Revenue preferred appeals under Section 260A of
the Income Tax Act challenging the Income Tax Appellate Tribunal (ITAT) orders
in relation to two assessees, namely Index Securities Private Limited...
Pr. Commissioner of Income Tax, Delhi-2 vs Central Warehousing Corporation | Delhi High Court on Section 10(29) Income Tax Act – Whether Depreciation is an Expense or Allowance for Tax Exemption Computation
Facts of the
CaseThe Revenue filed five appeals before the Delhi
High Court under Section 260A challenging the common order of the Income Tax
Appellate Tribunal (ITAT) relating to Assessment Years 1989-90, 1993-94,
1...
M/s ESS Distribution (Mauritius) SNC et Compagnie & M/s ESS Advertising (Mauritius) SNC et Compagnie vs Assistant Commissioner of Income Tax, Circle 1(2)(2), International Taxation, New Delhi | Delhi High Court | Reassessment under Sections 147/148 and Invalid Draft Assessment under Section 144C for Foreign Partnership Firms
Facts of the CaseThe petitioners, Mauritius-based partnership firms, were engaged in sports content distribution and advertisement sales linked to ESPN Star Sports broadcasting operations. They filed income tax returns c...
Pr. Commissioner of Income Tax-6, New Delhi vs New Video Pvt. Ltd. | Delhi High Court on Section 68 Addition and Subsequent Repayment of Creditors
Facts of the
CaseThe Revenue filed appeals before the Delhi High
Court against the order passed by the Income Tax Appellate Tribunal concerning
Assessment Year 2007–08.The dispute arose from an addition of Rs.
21,6...
Principal Commissioner of Income Tax (Central)-1 vs Sahara India (Firm) | Delhi High Court on Deletion of Penalty under Sections 271D & 271E of the Income Tax Act, 1961
Facts of the Case
The
Revenue filed four appeals before the Delhi High Court challenging the
common order dated 6 January 2017 passed by the ITAT.
The
ITAT had deleted penalties imposed by the Asse...
Pr. Commissioner of Income Tax, Delhi-2 vs Central Warehousing Corporation | Delhi High Court on Treatment of Depreciation as Allowance and Computation of Exempt Income under Section 10(29) of the Income Tax Act, 1961
Facts of the
CaseThe Revenue preferred five appeals under Section
260A of the Income Tax Act against a common order passed by the Income Tax
Appellate Tribunal (ITAT) concerning multiple assessment years. The principa...
Pr. Commissioner of Income Tax–6, New Delhi vs New Video Pvt. Ltd. | Section 68 Income Tax Act | Addition on Unexplained Cash Credit Deleted on Subsequent Repayment Acceptance by Revenue | Delhi High Court
Facts of the
CaseThe Revenue preferred appeals before the Delhi High
Court challenging the order passed by the Income Tax Appellate Tribunal in
relation to Assessment Year 2007–08. The dispute arose from deletion of...
M/s ESS Distribution (Mauritius) SNC Et Compagnie & M/s ESS Advertising (Mauritius) SNC Et Compagnie vs Assistant Commissioner of Income Tax, Circle-1(2)(2), International Taxation, New Delhi | Delhi High Court | Reopening of Assessment u/s 147/148 Invalid on Mere Change of Opinion & Non-Applicability of Section 144C to Foreign Partnership Firms
Facts of the CaseThe petitioners, namely ESS Distribution
(Mauritius) and ESS Advertising (Mauritius), were partnership firms
incorporated under the laws of Mauritius and engaged in distribution of sports
channels and...
Commissioner of Income Tax vs D.K. Garg (Delhi High Court) – Applicability of Peak Credit Theory in Unexplained Cash Deposits and Accommodation Entries under Sections 68, 147, 148 & 260A of the Income Tax Act, 1961
Facts of the
CaseThe assessee, a Chartered Accountant, filed his
return for AY 1995–96 declaring taxable income of Rs. 49,880. During
assessment, the Assessing Officer discovered substantial cash and cheque
deposit...