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M/s. I.M. Constructions Pvt. Ltd. vs. Commissioner of Income Tax: Issue vs. Service of Notice under Section 148 of the Income Tax Act, 1961
Facts of the Case
The
petitioner company, M/s. I.M. Constructions Pvt. Ltd., filed its income
tax return manually for the Assessment Year (AY) 2004-05 on February 10,
2005, with the Income Tax Officer...
Shanker Trading (P) Ltd. v. Commissioner of Income Tax (Delhi High Court): Whether Enhanced Lease Rent, Non-Compete Payments and Rights Relating to Raw Material Procurement Constitute Capital or Revenue Expenditure under Section 40A(2) of the Income Tax Act, 1961
Facts of the
CaseM/s Shanker Trading (P) Ltd. was engaged in the
business of manufacturing and trading Katha and Cutch. The assessee had taken
on lease a manufacturing unit belonging to Mehta Charitable Prajnalaya Tru...
M/s Lachman Dass Bhatia Hingwala (P) Ltd. & Anr. v. Assistant Commissioner of Income Tax: Validity of Search Assessment Proceedings Under Section 153A
Facts of the CaseThe dispute involves a batch of six connected writ
petitions—specifically W.P.(C) Nos. 1765/2012, 1766/2012, 1767/2012, 1778/2012,
1784/2012, and 1785/2012—brought before the Division Bench of the ...
Sun Investment Pvt. Ltd. vs Assistant Commissioner of Income Tax & Ors. | Delhi High Court | Reassessment under Sections 147, 148 & MAT Provisions under Section 115JB of the Income Tax Act
Facts of the CaseThe petitioner, Sun Investment Pvt. Ltd., was
engaged in investment activities and registered as a Non-Banking Financial
Company (NBFC) with the Reserve Bank of India.WP(C) No.
12438/2009 – Assessme...
Commissioner of Income Tax vs. R.T.C.L. Ltd.: Limits on Rectification of Book Profit Computations Under Section 154 and Section 115JB of the Income Tax Act
Facts of the Case
Initial
Assessment: For the assessment year 2002-03, the
Assessing Officer (AO) completed the original assessment of the
respondent-assessee (R.T.C.L. Ltd.) under Section 143(3) of t...
Commissioner of Income Tax (CIT) vs Shankar Trading Pvt. Ltd. | Section 40A(2) & Capital vs Revenue Expenditure on Enhanced Lease Rent and Non-Compete Rights
Facts of the
CaseM/s Shankar Trading Pvt. Ltd. was engaged in the
business of manufacturing Katha and Cutch and had leased a production unit
belonging to Mehta Charitable Prajnalaya Trust from 01.06.1978.Initially, le...
SAK Industries Pvt. Ltd. vs Deputy Commissioner of Income Tax, New Delhi | Reassessment Proceedings under Sections 147, 148 & 115JB of the Income Tax Act – Requirement of Speaking Order on Objections
Facts of the
CaseThe petitioner company had originally undergone
scrutiny assessment under Section 143(3) for AY 2003-04, and the assessment
order was passed on 20.10.2005.Subsequently, the Deputy Commissioner of Inco...
Commissioner of Income Tax-IV vs. Deepak Knits and Texturise Pvt. Ltd.: Validity of Reassessment Under Section 147/148 Based on Accommodation Entries
Facts of the Case
The
respondent-assessee, a private limited company, filed its income tax
return for the Assessment Year (AY) 2001-02.
The
initial assessment was completed by the Assessing Officer...
Shanker Trading (P) Ltd. vs Commissioner of Income Tax (Delhi High Court) – Lease Rent Paid to Related Trust: Revenue vs Capital Expenditure and Applicability of Section 40A(2) of the Income Tax Act, 1961
Facts of the
CaseM/s Shanker Trading (P) Ltd. was engaged in the
business of manufacturing and trading Katha and Cutch. The company had taken on
lease a manufacturing unit belonging to Mehta Charitable Prajnalaya Trus...
Section 269UD Compulsory Acquisition and the Bar of Equity: Avenue Realities and Developers Pvt. Ltd. vs. Appropriate Authority of Income Tax Department
Facts of the Case
The
Agreement: On November 19, 1995, the Petitioner (Avenue
Realities and Developers Private Limited) entered into an agreement to
purchase an immovable leasehold property (No. S-380...