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Commissioner of Income Tax Delhi-21 vs Om Prakash Khaitan | Delhi High Court on Taxability of Client Advances Received by Lawyers and Disallowance under Section 14A of Income Tax Act
Facts of the
CaseThe assessee, Om Prakash Khaitan, proprietor of M/s
O.P. Khaitan & Company, was engaged in legal practice as a solicitor and
advocate and had consistently followed the cash system of accounting si...
Mool Chand Khairati Ram Trust vs Director of Income Tax (Exemptions) – Delhi High Court | Exemption under Sections 11, 12 & 12A for Charitable Trust Running Integrated Ayurvedic and Allopathic Hospital
Facts of the
Case
Mool Chand Khairati Ram Trust was created under a Will executed by
Late Lala Khairati Ram.
The principal objects of the trust included:
Promotion and teaching of Sanskrit;
Improvemen...
Pr. Commissioner of Income Tax (Central-II) vs Aakash Arogya Mandir Pvt. Ltd. | Delhi High Court | Mandatory Recording of Satisfaction under Section 153C Even When Same AO Handles Searched Person and Assessee
Facts of the
Case
The Revenue filed appeals under Section 260A of the Income Tax Act
against the common order of the ITAT relating to Assessment Years 2003-04,
2004-05 and 2006-07.
The ITAT had held that...
Commissioner of Income Tax, Delhi (Central-II) vs Navbharat International Ltd. & M/s Navbharat Export – Rejection of Books of Accounts Solely on Excess Stock Declaration During Search Not Sustainable | Delhi High Court
Facts of the
CaseThe assessee entities, namely Navbharat
International Ltd. and M/s Navbharat Export, were subjected to search
proceedings wherein excess stock was declared. Based on such declaration, the
Assessing O...
BLB Limited vs Deputy Commissioner of Income Tax & Others – Delhi High Court Directs Disposal of Pending Income Tax Refund Claims for AY 2006-07 to AY 2011-12
Facts of the
CaseBLB Limited had submitted refund claims before the
Income Tax Department in respect of Assessment Years 2006-07 through 2011-12.
Different refund amounts were involved in each petition. The petitioner...
Commissioner of Income Tax v. M/s Slocum Investment Pvt. Ltd. (Now HCL Corporation Ltd.) & Connected Matters – Scope of Block Assessment on Disclosed Transactions under Sections 132, 158BC, 158BA, 92 and 260A of the Income Tax Act
Facts of the
Case
Slocum Investment Pvt. Ltd. (later HCL Corporation Ltd.), Shiv
Nadar Investment Pvt. Ltd., and HCL Corporation Ltd. belonged to the HCL
Group and held substantial shareholdings in HCL Con...
Commissioner of Income Tax, Central-1 vs. Mr. Sri Chand Gupta & Others | Delhi High Court on Seized Cash Adjustment Against Advance Tax Liability under Sections 132, 132B, 234A, 234B & 234C of the Income Tax Act
Facts of the Case
Search and seizure proceedings under Section 132 of the Income Tax
Act were conducted on 14 January 1991 at the premises of the assessees.
During the search, Indian currency amounting to ₹25...
Commissioner of Income Tax vs Bharat Hotels Limited – Allowability of Interest on Borrowed Capital for Expansion of Existing Business under Section 36(1)(iii) of the Income Tax Act | Delhi High Court
Facts of the
Case
Bharat Hotels Limited was engaged in hotel business and undertook
projects at Srinagar, Goa, and Mumbai.
Loans were borrowed for these projects and reflected as
work-in-progress.
Tota...
Commissioner of Income Tax, Central-I vs. Mr. Sri Chand Gupta & Connected Matters – Whether Cash Seized During Search Proceedings Can Be Treated as Advance Tax Payment for Computation of Interest under Sections 234A, 234B and 234C of the Income Tax Act, 1961
Facts of the
Case
Search and seizure proceedings under Section 132 of the Income Tax
Act were conducted on 14 January 1991 at the premises of the assessees.
During the search proceedings, cash amounting to Rs....
Commissioner of Income Tax, Central-1 vs. Mr. Sri Chand Gupta, Mrs. Usha Rani Gupta & Mr. Gian Chand Gupta | Delhi High Court | Whether Cash Seized under Sections 132/132B Can Be Treated as Advance Tax for Computation of Interest under Sections 234A, 234B & 234C
Facts of the Case
Search and seizure operations under Section 132 of the Income Tax
Act were conducted at the premises of the assessees on 14 January 1991.
During the search, Indian currency amounting to ...