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Commissioner of Income Tax vs. Gulf Air Company: Clarifying TDS Applicability on Hotel Payments and Service Charges under Section 194-I of the Income Tax Act, 1961
· Facts
of the CaseThe respondent, Gulf Air Company, is a
non-resident airline operating flights to Mumbai and Delhi. For the assessment
year 2001-02, the Assessing Officer (AO) contended th...
Principle of Consistency in Valuation of Unquoted Shares: CIT v. Tyagi Group (2008:DHC:12410-DB) – Delhi High Court Rules on Binding Nature of DVO Reports for Co-owners under Section 2(22B)(ii) of the Income Tax Act, 1961
Facts of the Case
The
six conjoined appeals arose out of a common order passed by the Income Tax
Appellate Tribunal (ITAT) on September 17, 2001.
The
Assessees belong to the "Tyagi Group" and held ...
Commissioner of Income Tax v. M/s SRJ Securities (Now Adinath Capital Pvt. Ltd.) | Delhi High Court on Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income Tax Act
Facts of the CaseThe Revenue filed appeals against orders passed by the Income
Tax Appellate Tribunal. The Tribunal had decided the matters primarily on the
issue that proper satisfaction for initiation of penalty proc...
Commissioner of Income Tax v. M/s D.D. Gears Ltd. (Delhi High Court) – Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income-tax Act, 1961
Facts of the Case
The
Revenue preferred an appeal against the order of the Income Tax Appellate
Tribunal.
The
Tribunal had confined its examination to the issue of recording of
satisfaction by...
Commissioner of Income Tax vs. Tyagi Group (2008:DHC:12420-DB): Principle of Consistency in Fair Market Value (FMV) of Unquoted Equity Shares under Section 2(22B)(ii) of Income Tax Act—Delhi High Court Affirms DVO Valuation of Co-Owners (Anand Group) Prevents Re-assessment Without Demonstrating Error
Facts of the Case
The
six conjoined appeals arose out of a common order passed by the Income Tax
Appellate Tribunal (ITAT) dated September 17, 2001.
All
the respective assessees belonged to a collec...
Commissioner of Income Tax vs. Goodyear India Limited – Delhi High Court on Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income Tax Act
Facts of the CaseThe Commissioner of Income Tax filed appeals against various
orders of the Income Tax Appellate Tribunal, including the case relating to
Goodyear India Limited.The Tribunal had restricted its examinati...
Commissioner of Income Tax, Delhi-X v. M/S Prima India Products: Validity of Section 263 Revisionary Orders Post-Settlement Commission Disclosures on Undisclosed Income and Investment Nexus
Facts of the Case
Assessment
& Search Details: The assessment of the
respondent-assessee ($\text{M/S Prima India Products}$) for the Assessment
Year (AY) 1982-83 was initially completed under Sect...
Commissioner of Income Tax v. M/s Shree Joints International Pvt. Ltd. (2008) – Recording of Satisfaction for Penalty Proceedings under Section 271(1)(c) of the Income Tax Act and Impact of Section 271(1B)
Facts of the Case
The
Revenue challenged the order of the Income Tax Appellate Tribunal.
The
Tribunal had considered only the issue relating to recording of
satisfaction by the Assessing Officer for...
The Motor & General Finance Ltd. vs. Commissioner of Income Tax-VI, New Delhi (with Connected Appeals) under section 244A of the Income Tax Act, 1961 (Interest on Refunds).
Facts
of the Case·
The primary appellant, Motor &
General Finance Ltd., along with other connected assessees, filed their
respective income tax returns for various...
Commissioner of Income Tax vs. Web Commerce (India) Pvt. Ltd. – Whether Filing Audit Report Under Section 10B(5) Before Assessment Framing Complies with Law as Directory Provision vs Mandatory Requirement: Delhi High Court Verdict Following CIT vs. Contimeters Electricals
FACTS OF THE CASE
The
Revenue filed an appeal (ITA 552/2008) before the High Court of Delhi
against the Income Tax Appellate Tribunal's order.
The
dispute concerned the deduction/exemption claimed ...