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Commissioner of Income Tax-X vs. M/s Kultar Exports | Delay in Appeal Cannot Reopen Final Assessment Based on Subsequent Judgment | Section 80HHC & Section 260A Income Tax Act
Facts of the CaseThe assessee, M/s Kultar Exports, filed returns claiming
deductions under Section 80HHC of the Income Tax Act relating to profits
derived from export activities.Pursuant to the Taxation (Amendment) Act...
Commissioner of Income Tax-X vs M/s Kultar Exports (2014:DHC:2763-DB): Whether Assessee Can Reopen Final Assessment Based on Subsequent Judicial Decision under Section 80HHC
Facts of the CaseThe assessee, M/s Kultar Exports, filed income tax returns
claiming deductions under Section 80HHC of the Income Tax Act in respect of
export profits. Subsequently, through the Taxation (Amendmen...
Sanjay Gupta vs Commissioner of Income Tax (CIT) | Section 132A, Section 158B, Section 158BC, Section 158BE & Section 158BFA(2) of Income Tax Act – Determination of Block Period in Requisition Cases and Assessment of Undisclosed Income
Facts of the Case
The
assessee earned commission income from property transactions and trading
of transistor parts and also acted as an informer for the Directorate of
Revenue Intelligence (DRI).
O...
Sanjay Gupta vs Commissioner of Income Tax (CIT) | Determination of Block Period under Sections 132A, 158B, 158BC & Penalty under Section 158BFA(2) of the Income Tax Act, 1961 – Delhi High Court
Facts of the Case
The
assessee, Sanjay Gupta, derived income through commission in property
transactions and trading activities and also worked as an informer for the
Directorate of Revenue Intelligen...
Council for the Indian School Certificate Examinations (CISCE) Vs. Director General of Income Tax (Exemptions) | Delhi High Court on Section 10(23C)(vi) Exemption for Educational Institutions and Surplus Generation
Facts of the Case
The
petitioner was a registered society engaged in maintaining educational
standards and conducting ICSE and ISC examinations.
The
petitioner had previously enjoyed exemption unde...
Maruti Insurance Distribution Services Ltd. vs Commissioner of Income Tax – Disallowance of Dealer Commission under Section 37(1) of the Income Tax Act | Delhi High Court
Facts of the CaseThe assessee, Maruti Insurance Distribution Services Ltd.,
was engaged in the business of corporate insurance agency operations through an
extensive network of Maruti dealers and workshops across India...
Commissioner of Income Tax-IV (CIT) vs Narinder Kr. Budhiraja – Addition under Section 69B for Undisclosed Investment Based on Assessee’s Statement and DVO Valuation Report | Penalty under Section 271(1)(c) | Delhi High Court
Facts of the CaseThe assessee purchased a built-up property at FD-22,
Pitampura, Delhi, measuring approximately 250 square meters. The registered
sale deed disclosed consideration of ₹20 lakh paid through cheque.Subs...
Commissioner of Income Tax-IV / CIT vs Narinder Kr. Budhiraja – Addition under Section 69B for Unexplained Investment Based on Assessee's Statement and DVO Valuation Report | Delhi High Court
Facts of the Case
The
assessee purchased a property measuring approximately 250 sq. meters at
Pitampura, Delhi.
Registered
sale consideration disclosed was ₹20 lakhs.
During
examination ...
Commissioner of Income Tax vs Global Associates | Penalty under Section 271(1)(c) for Furnishing Inaccurate Particulars in Claim of Liquidated Damages | Delhi High Court
Facts of the CaseThe assessee filed its return for Assessment Year 2008-09
and claimed deduction towards liquidated damages amounting to ₹17,24,24,025.The deduction arose from a contractual arrangement entered
into w...
Commissioner of Income Tax vs Global Associates | Penalty under Section 271(1)(c) for Furnishing Inaccurate Particulars in Claim of Liquidated Damages | Delhi High Court
Facts of the CaseThe assessee filed its return for Assessment Year 2008-09 and
claimed deduction towards liquidated damages amounting to ₹17,24,24,025.The deduction arose from a contractual arrangement entered
into w...