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Taxability of Non-Compete Fee Received on Retirement – Whether Non-Compete Compensation Constitutes Capital Receipt or Revenue Receipt under Section 28(ii) of the Income-tax Act, 1961
Facts of the CaseThe Respondent-Assessee, Mrs. Tara Sinha, was serving
as the President of Tara Sinha McCann Erickson Pvt. Ltd. (TSME), a leading
advertising agency, and held 51% shareholding in the company. During
As...
Commissioner of Income Tax vs Denso India Limited (Delhi High Court) – Scope of Rectification under Section 154 vis-à-vis Review of Appellate Order and Penalty under Section 271C for Failure to Deduct TDS on Expatriate Salary
Facts of the CaseDenso India Limited, engaged in manufacturing operations,
had expatriate technicians deputed from its Japanese parent entity. These
employees received salary partly in India and partly in Japan.During ...
Employees’ Provident Fund Organisation (South), New Delhi vs Assistant Commissioner of Income Tax, Circle-76(1), New Delhi & Ors. | Delhi High Court on Maintainability of Writ Petition Against ITAT Order
Facts of the
CaseThe Employees’ Provident Fund Organisation (South),
New Delhi, instituted multiple writ petitions before the Delhi High Court
against the Assistant Commissioner of Income Tax and other respondents
...
Pr. Commissioner of Income Tax (Central)-3 vs Indrapuram Habitat Centre Pvt. Ltd. | Delhi High Court on Validity of Project Completion Method under Section 145 of the Income Tax Act
Facts of the CaseThe respondent-assessee, a builder and developer
engaged in construction projects including commercial buildings, had
consistently followed the Project Completion Method for recognizing
revenue. Durin...
Commissioner of Income Tax vs. Denso India Limited (Delhi High Court) – Scope of Rectification under Section 154 vis-à-vis Penalty under Section 271C for Non-Deduction of TDS on Expatriate Salary
Facts of the CaseDenso India Limited, engaged in manufacturing operations,
had expatriate technicians deputed by its Japanese parent company for work in
India. During the relevant financial years, a portion of the sala...
Unitech Wireless (Tamil Nadu) Pvt. Ltd. vs Principal Commissioner of Income Tax & Ors. | Delhi High Court on Scope of “Full and True Disclosure” under Sections 245C(1) and 245D(1) of the Income Tax Act, 1961
Facts of the CaseThe Petitioner, Unitech Wireless (Tamil Nadu) Private Limited,
was a subsidiary of the Norway-based Telenor Group. Pursuant to a Business
Transfer Agreement, its telecom business was transferred ...
Pr. Commissioner of Income Tax (Central)-3 vs Indrapuram Habitat Centre Pvt. Ltd. | Delhi High Court | Section 145 of the Income Tax Act | Validity of Project Completion Method vs Percentage Completion Method for Revenue Recognition by Builders and Developers
Facts of the CaseThe assessee, Indrapuram Habitat Centre Pvt. Ltd., was engaged in development and construction of commercial projects. During the assessment proceedings, the Assessing Officer (AO) examined the accountin...
Commissioner of Income Tax vs Denso India Limited (Delhi High Court) – Scope of Rectification under Section 154 and Penalty under Section 271C for Failure to Deduct TDS on Expatriate Salary
Facts of the CaseDenso India Limited, engaged in manufacturing operations in
India, had expatriate technicians deputed by its parent company in Japan. These
employees were paid part salary in India and part outside Ind...
Employees’ Provident Fund Organisation (South), New Delhi vs Assistant Commissioner of Income Tax, Circle-76(1), New Delhi & Ors. | Delhi High Court | Maintainability of Writ Petition Against Income Tax Proceedings Pending Challenge to ITAT Order
Facts of the
Case
The Petitioner, Employees’ Provident Fund Organisation (South), was
involved in tax disputes concerning multiple assessment years.
The Income Tax Appellate Tribunal (ITAT), by order dated ...
Income Tax Department Vs. Vijay Singh @ Vijay Kumar | Delhi High Court Enhances Motor Accident Compensation for Permanent Disability | Future Prospects under Motor Vehicles Act
Facts of the CaseThe claimant, Vijay Singh @ Vijay Kumar, sustained
serious injuries in a motor vehicle accident on 14.07.2005 while riding his
motorcycle. The accident occurred due to the negligent driving of a ...