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CIT vs. Li & Fung (India) Pvt. Ltd. | Transfer Pricing & Arm's Length Price Determination under Rule 10B(1)(e) Income Tax Act, 1961.
Facts of the Case
The
Revenue filed appeals against a common order passed by the Income Tax
Appellate Tribunal (ITAT) concerning Assessment Years (AY) 2007-08 and
2008-09.
The
Assessing Offic...
Toluna India Private Ltd. vs Director of Income Tax (Investigation) Circle 12(1): Stay of Demand in W.P.(C) 2358/2015 – Delhi High Court Judgment
Facts of the
Case:The petitioner, Toluna India Private Ltd.,
filed W.P.(C) 2358/2015 before the Delhi High Court seeking an extension of
stay on the assessment order issued by the Income Tax Department. The
petitione...
Toluna India Private Ltd. vs Director of Income Tax (Investigation) Circle 12(1) – Extension of Stay Beyond 365 Days in Income Tax Appeal Pending Before ITAT | Delhi High Court (2015)
Facts of the
Case:The petitioner, Toluna India Private Ltd.,
filed a writ petition seeking the extension of stay regarding the assessment
order for the assessment year 2008-09. The petitioner had appealed before the
...
The Commissioner of Income Tax-II vs Li & Fung (India) Pvt. Ltd. (ITA 506/2014): Taxation Matters, Court Findings, and Important Clarifications under Income Tax Act
Facts of the
Case:The case revolves around an appeal by the
Commissioner of Income Tax-II (Appellant) against Li & Fung (India) Pvt.
Ltd. (Respondent) concerning a matter of tax implications under the Income Tax
...
CIT vs Jain Export Private Ltd. – Penalty under Section 271(1)(c) Cannot Be Sustained Merely on Disallowance of Share Loss Claim | Delhi High CourtLtd. | Delhi High Court | Section 271(1)(c) Penalty on Share Loss Disallowance
Facts of the CaseThe dispute arose from the order of the Income Tax
Appellate Tribunal (ITAT), whereby the penalty imposed by the Assessing Officer
under Section 271(1)(c) amounting to ₹14,90,000/- for AY 2006-...
Commissioner of Income Tax (C)-III vs M/s DD Industries Ltd. | Section 36(1)(iii), Section 37(1), Commercial Expediency & Interest Disallowance under Income Tax Act
Facts of the
CaseThe assessee, M/s DD Industries Ltd., was engaged
in manufacturing and trading of auto components, dealership business of Maruti
vehicles, leasing business, CNG conversion of vehicles, and high-securi...
Sony India Private Limited vs Additional Commissioner of Income Tax | Delhi High Court on Extension of Stay Beyond 365 Days in Tax Appeal (AY 2009-10)
Facts of the
CaseThe petitioner, Sony India
Private Limited, had filed an appeal before the Income Tax Appellate Tribunal
(ITAT) against the order passed by the Dispute Resolution Panel dated
19.12.2013. During the p...
Commissioner of Income Tax-VI vs VRM India Ltd. | Section 80-IB(10) Deduction on Housing Projects | Developer vs Contractor | Delhi High Court
Facts of the
CaseThe assessee, VRM India Ltd., was engaged in
the business of building and developing housing projects and infrastructure.
During the relevant assessment years, it executed housing projects awarded by:...
Commissioner of Income Tax vs M/s Abhinandan Investment Ltd. | Medicare Investments Ltd. Section 28 | Jindal Equipments Leasing & Consultancy Services
Facts of the
CaseThe present batch of appeals arose out of a common
order passed by the Income Tax Appellate Tribunal (ITAT) concerning the
allowability of losses claimed by the assessees on transfer/sale of
Non-Conv...
Agence France Press vs Assistant Director of Income Tax (Delhi High Court) – Section 234B Interest on Non-Resident Assessee Where Tax Was Deductible at Source | ITA Nos. 222/2015, 223/2015, 224/2015 & 225/2015
Facts of the
Case
The assessee, a non-resident entity, derived income from news
distribution activities connected with India.
During assessment proceedings, the Revenue held that tax was
payable on such ...