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Commissioner of Income Tax-III vs M/s. Shri Sidhdata Ispat (P) Ltd.: Validity of Penalty under Sections 271D and 269SS of the Income Tax Act, 1961
Facts of the
Case:
The assessee, M/s. Shri Sidhdata Ispat (P) Ltd.,
incorporated in 2002, filed its income tax return for the relevant year
showing a loss of ₹1,63,68,608.
The Assessing Officer (AO) u...
Teletube Electronics Ltd. vs Commissioner of Income Tax: Distinction Between Lease Agreements and Sale of Assets Under the Income Tax Act Sections Involved Section 2(14), Section 2(47), Section 45, Section 50, Section 230A, and Section 260A of the Income Tax Act, 1961.
Facts of the Case
Teletube Electronics Ltd. (the Assessee/Petitioner) owned a glass
bulb division located at Bhiwadi, Rajasthan.
During the Assessment Year 1994-95, the Assessee leased its glass
bulb divi...
Commissioner of Income Tax (Central) vs Mohan Meakins Ltd. & Connected Matters – Search Assessment, Block Assessment and Income Tax Proceedings under the Income Tax Act
Facts of the Case
The
Revenue filed multiple appeals against various assessees challenging
orders passed by the Income Tax Appellate Tribunal (ITAT).
All
appeals involved substantially similar quest...
Commissioner of Income Tax-VI, New Delhi vs. Usha International Limited – Reassessment under Section 147 and Change of Opinion
Facts of the
CaseThe appeal concerns the reopening of a completed
income tax assessment under Section 147 of the Income Tax Act, 1961, post
scrutiny assessment under Section 143(3). The Assessing Officer (AO) issued
...
Commissioner of Income Tax vs Renu Verma | Section 158BD Notice Validity, Satisfaction Note & Limitation in Block Assessment | Delhi High Court
Facts of the CaseA search operation under Section 132 was conducted at the premises
of M/s Friends Portfolio Pvt. Ltd. and its Director. During investigation, it
was alleged that accommodation entries were provided to ...
Commissioner of Income Tax vs. Yum Restaurants (India) Pvt. Ltd. | Delhi High Court | Section 37(1), Business Income, Royalty Deduction & Revenue Expenditure Case
Facts of the CaseThe Revenue challenged the orders passed in
favour of Yum Restaurants India Pvt. Ltd. relating to classification of income
and allowability of various business expenditures.The assessee was engaged in ...
CIT vs. Ansal Housing & Construction Ltd. – Interpretation of Section 80IB(10) & 263 of Income Tax Act
Facts of the
CaseThe appeals filed by the Revenue under Section 260A
relate to assessment years 2000-01 and 2001-02. The CIT challenged deductions
claimed by the assessee under Section 80IB(10) for real estate housing...
Pr. Commissioner of Income Tax (Central-2) vs Aqua Guard Marketing Pvt. Ltd. – Delhi High Court Dismisses Revenue Appeals Following Aakash Arogya Mandir Principle | ITA Nos. 739/2015, 740/2015, 742/2015 & 743/2015
Facts of the CaseThe Principal Commissioner of Income Tax (Central-2) filed
multiple appeals against Aqua Guard Marketing Pvt. Ltd. before the Delhi High
Court challenging the findings rendered in favour of the assesse...
Director of Income Tax vs Galileo International Inc & Galileo International Inc vs Director of Income Tax – Delhi High Court 2012
Facts of the
Case
Revenue’s Position:
Revenue challenged the ITAT orders, questioning the determination of the
quantum of income attributed to India.
Assessee’s Position: The
assessee contende...
Commissioner of Income Tax vs. Yum Restaurants (India) Pvt. Ltd. | Delhi High Court | Section 37(1), Business Income, Royalty Deduction & Revenue Expenditure Case
Facts of the CaseThe Revenue challenged the orders passed in
favour of Yum Restaurants India Pvt. Ltd. relating to classification of income
and allowability of various business expenditures.The assessee was engaged in ...