Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Commissioner of Income Tax-V, New Delhi vs. Navin Chemicals Manufacturing Co. Ltd. | Penalty u/s 271(1)(c) for Bogus Business Expenditure Claims and Furnishing Inaccurate Particulars
Facts of the CaseThe assessee company, Navin Chemicals Manufacturing Co. Ltd.,
was engaged in the manufacture of chemical formulations. However, all
manufacturing and business operations had remained suspended since 19...
Commissioner of Income Tax vs Assessee Company – Allowability of Prior Period Interest Expenditure and Crystallized Liability Under Mercantile System | Delhi High Court
Facts of the CaseThe assessee filed its return of income for Assessment Year
1998-99.During assessment proceedings, the Assessing Officer made two
additions:
Disallowance
of prior period interest expenditure am...
Commissioner of Income Tax vs Assessee – Withdrawal of Income Tax Appeals Before Delhi High Court in ITA Nos. 1016, 1017 & 1020 of 2009
Facts of the Case
ITA
Nos. 1016, 1017 and 1020 of 2009 were listed before the Delhi High Court.
The
appellant/assessee, through its counsel, requested permission to withdraw
the appeals.
The
...
Commissioner of Income Tax vs Assessee (Name Not Reflected in Order) – ITA No. 931/2011 | Delhi High Court Dismisses Income Tax Appeal as Withdrawn
Facts of the CaseAn appeal bearing ITA No. 931/2011 was pending before the
Delhi High Court. At the time of hearing, counsel for the appellant requested
permission to withdraw the appeal. The Court accepted the request...
Commissioner of Income Tax vs. Tata Communications Internet Services Ltd. – Deduction under Section 80IA on Internet Services and Internet Telephony Cannot Be Denied in Subsequent Years After Initial Allowance | Delhi High Court
Facts of the Case
The
assessee company was originally incorporated as C.G. Graphnet Pvt. Ltd.
and subsequently underwent changes in name and ownership before becoming
Tata Communications Internet Serv...
Rahuljee & Company Pvt. Ltd. vs Income Tax Appellate Tribunal (Delhi High Court) – Allowability of Manufacturing Expenses, Proof of Business Expenditure and Reduction of Interest under Section 217 of the Income Tax Act
Facts of the Case
The
assessee was engaged in the business of manufacturing audio cassettes.
It
claimed deduction of ₹2,00,000 as manufacturing expenses allegedly
paid to Mr. Sunil Kumar for asse...
Commissioner of Income Tax vs Assessee Company – Section 68 Addition on Flat Booking Advances | Delhi High Court on Tribunal's Power to Remand Matter for Fresh Investigation
Facts of the CaseThe dispute pertained to Assessment Year 2005-06. During
assessment proceedings, the Assessing Officer (AO) observed that the assessee
had received a total sum of ₹21,70,34,294/- as advance money tow...
Commissioner of Income Tax vs Assessee Company – Section 68 Addition on Advances Received from Flat Buyers | Delhi High Court Remands Matter to ITAT for Decision on Merits
Facts of the CaseThe assessee, engaged in a real estate project, received a
total sum of ₹21,70,34,294 as advance money from 447 parties
towards booking of flats for Assessment Year 2005-06.During assessment proceedi...
The Commissioner of Income Tax, Delhi-IX vs. M/s Monoflex India Pvt. Ltd. & Others (2011) – Liability to Pay Unearned Increase on Auction Sale of Leasehold Property under Income Tax Recovery Proceedings
Facts of the Case
Property
No. A-35, Mohan Cooperative Industrial Estate, New Delhi, a leasehold
industrial plot, was attached and auctioned by the Tax Recovery Officer
for recovery of income tax dues...
Commissioner of Income Tax vs Assessee – Delhi High Court Dismisses Revenue Appeal Due to Low Tax Effect Below ₹10 Lakh | ITA No. 1638/2010 (2011)
Facts of the Case
The Revenue
preferred an appeal before the Delhi High Court in ITA No. 1638/2010.
During the
proceedings, it was brought to the notice of the Court that the tax effect
involved in...