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The Commissioner of Income Tax-V vs. Orient Craft Ltd.: Validity of Reassessment Under Section 147 Post Section 143(1) Intimation Absent Tangible Material
Facts of the Case
Assessee
Profile & Return Filing: The assessee, a 100%
export-oriented company, filed its return of income for the Assessment
Year (AY) 2002-03 on October 31, 2002, declaring a t...
The Institute of Chartered Accountants of India (ICAI) & Anr. vs Director General of Income Tax (Exemptions), Delhi & Ors. – Exemption under Section 10(23C)(iv), Charitable Purpose under Section 2(15), Coaching Activities and Tax Exemption Eligibility
Facts
of the Case
ICAI was constituted under the
Chartered Accountants Act, 1949 as a statutory body for regulating the
profession of Chartered Accountants in India.
ICAI had historically been granted
...
Commissioner of Income Tax vs. Maruti Suzuki India Ltd. (2012:DHC:7465-DB) Alternative Title for SEO: Commissioner of Income Tax vs. Maruti Suzuki India Ltd. | Allowability of Excise PLA Deposits under Section 43B of Income Tax Act
Facts of the Case
Assessee
Profile: The respondent/assessee, Maruti Suzuki India
Ltd., is a prominent automobile manufacturer.
Regulatory
Requirement: To clear manufactured vehicles and goods
...
Meinhardt Singapore Pte Ltd. vs. Assistant Director of Income Tax, Circle 3(1), International Taxation, New Delhi – Reassessment Proceedings under Section 44D and 115A of the Income Tax Act
Facts of the
Case:
The petitioner operated through a branch in India providing
consultancy services for NHAI road projects.
A sub-consultancy agreement was entered with M/s Quest
International Cons...
GALILEO NEDERLAND BV Vs. ASSISTANT DIRECTOR OF INCOME TAX: Dismissal of Income Tax Appeals with Liberty to Revive Post-Section 254(2) Rectification Proceedings Before ITAT
Facts of the Case
The
appellant, Galileo Nederland BV, filed four appeals (ITA Nos.
655/2012, 657/2012, 658/2012, and 660/2012) against a common order passed
by the Income Tax Appellate Tribunal (ITAT...
Meinhardt Singapore Pte Ltd. vs. Assistant Director of Income Tax, Circle 3(1), International Taxation, New Delhi | Sections 44D & 115A
Facts of the
Case
Meinhardt Singapore Pte Ltd., a Singapore-based company with a
branch office in India, provided technical consultancy services to the
National Highway Authority of India (NHAI) unde...
Escorts Heart Institute & Research Centre vs. Commissioner of Income Tax (Central) : Validity of Reassessment Notices u/s 147/148 tracking Past Accumulated Income u/s 11(3) read with Section 10(21)
Facts of the Case
Assessee
Status: The petitioner is a scientific research
society approved under Section 35(1)(ii) of the Income Tax Act, 1961,
specializing in research related to coronary diseases. ...
Commissioner of Income Tax vs M/s. Ganapati Finance Ltd.: Depreciation on Leased Assets under Section 32 of the Income Tax Act, 1961
Facts of the
Case:The appellant, Commissioner of Income Tax (CIT),
challenged the Tribunal’s allowance of depreciation claims by M/s. Ganapati
Finance Ltd. on two categories of leased assets during the assessment ye...
Commissioner of Income Tax vs M/s K.R.B.L. Limited – Deduction under Section 80HHC on DEPB Credit and Sale of Special Import License (SIL)
Facts of the
CaseThe appeals were filed by the Revenue under Section
260A of the Income Tax Act, challenging the entitlement of the assessee, M/s
K.R.B.L. Limited, to deductions under Section 80HHC of the Income Tax A...
Delhi HC in Madugula Venu Vs. DIT: Search Execution Mandatorily Triggers Section 153A Assessment Over Absolute Total Income Irrespective of Immediate Seizure Findings, and Extraordinary Writ Jurisdiction Under Article 226 Cannot Be Used As a Speculative Shield to Stall Legitimate Adjudication Proceedings
Facts of the Case
Assessee
Status: The petitioner is a qualified engineer
residing and employed in the USA, filing his income tax returns in the
status of a non-resident since leaving India in 1991.
...