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Commissioner of Income Tax Delhi-VIII vs Ashok Mittal: Classification of Investment Management Fees under Income Tax Act, 1961 – Business Income vs Income from Other Sources
Facts of the
Case
The respondent, Ashok Mittal, operated six sole proprietorship
businesses, primarily conducting share dealings, investment management,
and loan finance under M/s Ashok Mittal & Co.
...
Commissioner of Income Tax vs HCL Employees & Investment Co. Ltd. & Associated Techno Plastics Pvt. Ltd. (2013) DHC 6002 (DB) – Applicability of Section 69B, Income Tax Act 1961 on Share Transactions
Facts of the
Case
HEICL acted as a trustee to sell 12,70,000 shares
of HCL Ltd., originally held by promoters of Microcomp Ltd., to employees
and others. The sale was made at varying rates below market pri...
Hero Honda Motors Ltd vs Additional Commissioner of Income Tax & Hero Motocorp Ltd vs Additional Commissioner of Income Tax - Writ Petition Withdrawal Concerning Special Audit under Income Tax Proceedings
Facts of the
Case
Petitioners Hero Honda Motors Ltd and Hero Motocorp Ltd
had special audits directed under the Income Tax Act.
Writ petitions (W.P.(C) 8684/2010 and W.P.(C) 49/2012) were filed
in Delhi ...
Commissioner of Income Tax vs Shri Ashok Kumar Ralhan - Interpretation of Section 54F and Capital Gains Taxation
Facts of the
Case:The assessee, Shri Ashok Kumar Ralhan, sold
property No. A-173, Kaushambi, Ghaziabad on 5th October 2006 for ₹45,00,000.
Based on stamp duty valuation on circle rates, he declared capital gains of
...
Commissioner of Income Tax vs Virendara Kumar Gupta & Sharad Jain - Section 271AAA, Undisclosed Income, Assessment of AOP Income
Facts of the Case:
The appeals pertain to undisclosed income of Rs. 20 crores surrendered by the
assessee, Virendara Kumar Gupta, during a search under Section 132(4) of the
Income Tax Act. An affidavit by Sharad Jain...
Director of Income Tax vs Infrasoft Ltd. - Section 9(1)(vi) ITA 1034/2009: Software License Fees Not Royalty under DTAA
Facts of the
CaseThe appellant, Director of Income Tax,
challenged the assessment of Infrasoft Ltd., an international software
development company, regarding taxability of amounts received from licensing
civil engine...
Commissioner of Income Tax vs. NR Portfolio Pvt. Ltd. - Analysis of Section 68 Additions under Income Tax Act, 1961 (Assessment Years 2002-03 & 2003-04)
Facts of the
Case
The appellant, Commissioner of Income Tax, challenged
deletions made by the Income Tax Appellate Tribunal (ITAT) regarding share
application money received by NR Portfolio Pvt. Ltd., the
...
Commissioner of Income Tax, Delhi XVI vs Arun Malhotra - Delhi High Court on Block Assessment, Bogus Purchase Transactions, Cross-Examination Rights and Section 158BC Proceedings
Facts of the Case
A search and seizure operation under the Income Tax Act was
conducted on 14 July 1999 at the residence of Arun Malhotra.
Pursuant to notice under Section 158BC, a return for the block
pe...
Oracle India Private Limited & Oracle Software India Limited vs Commissioner of Income Tax – Whether Expenditure on Import of Master Copy of Oracle Software for Duplication and Licensing is Revenue Expenditure or Capital Expenditure under Sections 37, 35A, 40(a)(i), and 80-IA of the Income Tax Act, 1961
Facts of the
CaseOracle India Private Limited and Oracle Software
India Limited were subsidiaries of Oracle Corporation, USA. Under a licensing
agreement dated 28 May 1993, the companies obtained non-exclusive rights ...
Thomson Press (India) Ltd. vs Commissioner of Income Tax-II | Delhi High Court | Section 10A & 263 Dispute on Notional Interest
Facts of the Case
Assessee:
Thomson Press (India) Ltd., operating multiple printing units including
NEPZ Noida.
Controversy:
Whether notional interest credited in the books of the eligible
un...