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Commissioner of Income Tax-VII vs. Chetan Das Lachman Das: Scope of Section 153A Assessments and the Fact-Finding Responsibilities of the ITAT Regarding Seized Material
Facts of the Case
The
respondent-assessee is a partnership firm engaged in the business of
importing, processing, and trading Hing (Asafetida) and compound Hing.
On
December 13, 2005, a search and s...
Commissioner of Income Tax-VII vs. Chetan Das Lachman Das: Delhi High Court Guidelines on Estimation of Suppressed Income Under Section 145 and Depreciation Claims on Foreign Vehicles Purchased in India Under Section 32
Facts of the Case
Assessee
Status: The respondent-assessee is a partnership
firm consisting of partners Anil Kumar Bhatia (HUF) and Sanjay Bhatia
(HUF). The firm is actively engaged in the trading and...
Deputy Commissioner of Income Tax vs. Indeo Airways Pvt. Ltd. & Naveen Gera under Section 158BD: Legal Assessment of Composite Business Income and Cash Receipts in Correct Hands
FACTS OF THE CASE
Following
a search and seizure operation, a statutory notice under Section 158BD was
served on the corporate assessee, M/s. Indeo Airways Pvt. Ltd., on
September 21, 2000.
In
...
Director of Income Tax vs. Foundation of Ophthalmic & Optometry Research Education Centre: Registration Under Section 12AA(1)(b) Cannot Be Denied to a Newly Established Trust Solely Due to Non-Commencement of Actual Charitable Activities
Facts of the Case
Incorporation
& Objectives: The Assessee is a society incorporated
under the Societies Registration Act on May 30, 2008. Its objects as
defined in its Memorandum of Association i...
Virgin Mobile India Pvt. Ltd. v. The Assistant Commissioner of Income-Tax: Scope of Assessing Officer’s Discretion and Requirement of a Speaking Order Under Section 220(6) of the Income Tax Act
Facts of the Case
The
Petitioner, Virgin Mobile India Pvt. Ltd., is an incorporated company
engaged in trading telecom products and providing consultancy services. It
maintained a relationship with it...
Scott R. Bayman v. Commissioner of Income Tax: Deciding the Arbitrary Addition of Employer-Incurred Renovation Expenses as Taxable Perquisites under Section 17(2)(iv) of the Income Tax Act, 1961
Facts of the Case
Assessee's
Profile: The assessee, Mr. Scott R. Bayman, served as
the President and CEO of M/s GE International Operations Corp. Inc.
(GEIOCI).
Employment
Terms: Under Clause...
Mira Kulkarni vs. Assistant Commissioner of Income Tax: Disallowance of Personal Expenses under Section 37(1) vs. Contractual Obligations
Facts of the Case
Assessee
and Property Details: The appellant-assessee, Mira Kulkarni,
is an individual and part-owner of a property situated in Rishikesh,
Uttarakhand.
The
Commercial Agreem...
Commissioner of Income Tax vs. Smt. Meera Devi (with Kiran Devi vs. Commissioner of Income Tax) | Section 271(1)(c) Penalty and Third-Party Search under Section 153C
1. Facts of the Case
The
Search Operation: On January 13, 2004, a statutory search
and seizure operation under Section 132 of the Income Tax Act, 1961, was
executed at the residential premises of one ...
Kiran Devi Vs. Commissioner of Income Tax: Legality of Upholding Penalty Under Main Section 271(1)(c) When Charge Was Initiated Under Explanation 5
Facts of the Case
On
13.01.2004, a search and seizure operation under Section 132 of the Income
Tax Act, 1961, was conducted at the residential premises of one K.N.
Mehrotra (an employee of M/s Prabha...
Appellate Jurisdiction and Penalty Impositions Under Section 271(1)(c) of the Income Tax Act, 1961: A Comprehensive Study of Judicial Precedent and Procedural Finality in the Case of Kiran Devi Vs. Commissioner of Income Tax
Facts of the Case
The
Search Action: A search and seizure action was conducted by
the Revenue authorities under the Income Tax Act, 1961. During the course
of this search, various loose documents, ban...