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Commissioner of Income Tax, Delhi vs. Mahesh Kumar (2011) – Addition under Section 69 for Unexplained Jewellery and Property Investment Deleted Due to CBDT Jewellery Guidelines and Marginal DVO Valuation Difference
Facts of the CaseA search and seizure operation was conducted at the premises
of the assessee, Mahesh Kumar. During the search, cash and jewellery valued at
₹12,12,891 were found and seized.The assessee initially sub...
Commissioner of Income Tax v. Samsung India Electronics Ltd. – Royalty Payment, Delayed Payment Interest to SSI Units and Factory Renovation Expenditure Held as Revenue Expenditure | Sections 36(1)(vii) & 37(1) of the Income Tax Act
Facts of the Case
The
assessee paid royalty to Samsung Corning Co. Ltd. in connection with its
business operations.
The
Assessing Officer questioned whether such royalty payment constituted
c...
Commissioner of Income Tax v. Assessee – Withdrawal of High Court Appeal to Challenge ITAT Rectification Order under Section 254(2) of the Income-tax Act, 1961 | Delhi High Court
Facts of the Case
The
assessee had filed an appeal before the Income Tax Appellate Tribunal
raising various grounds.
The
Tribunal dismissed the appeal by order dated 22 December 2010.
According
...
Commissioner of Income Tax vs. [Assessee Company] – Royalty Payment, Interest on Delayed Payment to SSI Units & Factory Renovation Expenses Held as Revenue Expenditure under Section 37(1), Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe Revenue filed appeals challenging the orders passed by
the Income Tax Appellate Tribunal (ITAT) in favour of the assessee.Three principal issues arose for consideration:
Whether
royalty paid...
Asia Satellite Telecommunications Co. Ltd. vs Director of Income Tax | Taxability of Satellite Transponder Charges in India under Sections 5, 9(1)(i), 9(1)(vi), 234A, 234B & 260A of the Income-tax Act
Facts of the CaseAsia Satellite Telecommunications Co. Ltd., a company
incorporated in Hong Kong, was engaged in the business of providing satellite
communication and broadcasting facilities through satellites statione...
Commissioner of Income Tax v. Assessee Company – Taxability of Interest in Genuine Hire-Purchase Transactions under Section 4(3), Interest Tax Act, 1974 | Delhi High Court
Facts of the Case
The
assessee entered into hire-purchase agreements with its customers.
The
Assessing Officer treated those agreements as transactions yielding
interest income.
On
that ba...
Asia Satellite Telecommunications Co. Ltd. v. Director of Income Tax | Transponder Charges, Royalty, Business Connection & Taxability of Non-Resident Satellite Operators under Sections 5, 9(1)(i) and 9(1)(vi) of the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseAsia Satellite Telecommunications Co. Ltd., a company
incorporated in Hong Kong, was engaged in the business of providing private
satellite communication and broadcasting facilities through satellites ...
Commissioner of Income Tax v. [Assessee Company] – Scope of Revision under Section 263 Where Deduction under Section 10B and Software Development Expenditure Involve Debatable Issues | Delhi High Court
Facts of the CaseThe assessee filed its return of income for Assessment Year
2003-04 declaring income of approximately Rs. 11.87 crores. The assessment was
completed after certain additions and the income was assessed ...
Asia Satellite Telecommunications Co. Ltd. vs Director of Income Tax | Delhi High Court on Taxability of Satellite Transponder Charges, Royalty, Business Connection & Section 9(1)(vi) of the Income-tax Act
Facts of the CaseAsia Satellite Telecommunications Co. Ltd., a company incorporated
in Hong Kong, operated communication satellites providing transponder capacity
to television channels and communication companies. The...
Commissioner of Income Tax v. Assessee (Name Not Available in Order) | ITA No. 469/2009 (Delhi High Court) – Revenue Appeal Dismissed Due to Low Tax Effect and Absence of Cascading Impact
Facts of the Case
The
Revenue filed an appeal before the Delhi High Court under the Income-tax
Act.
In
the affidavit filed by the Revenue, the tax effect was stated to be ₹18,69,792.
Cou...