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Commissioner of Income Tax-III vs. Sapient Corporation Pvt Ltd | Disallowance of Leave Encashment under Section 43B
Facts of the Case·
The respondent-assessee, Sapient
Corporation Pvt Ltd, faced reassessment proceedings for the Assessment Year
2004-05. · ...
AAA Portfolios Pvt. Ltd. & Others vs Deputy Commissioner of Income Tax & Others – Delhi High Court on Validity of Recovery Proceedings Under Section 226(3) of the Income Tax Act in Respect of Escrow Funds (2013)
Facts of the
CaseThe petitioners were shareholders of Escorts Heart
Institute & Research Centre Ltd. and had entered into a Share Purchase
Agreement dated 25.09.2005 with Fortis Healthcare Ltd. for sale of their
...
Khanna and Annadhanam vs. Commissioner of Income Tax: Capital vs Revenue Receipt – Analysis under Section 260A, Income Tax Act, 1961
Facts of the
Case
The assessee, a firm of chartered accountants, received referred
work from M/s Gupta Chaudhary & Ghose, Calcutta, initially referred by
Deloitte Haskins & Sells (“DHS”), an in...
Krishak Bharti Cooperative Ltd. vs Deputy Commissioner of Income Tax & Additional Commissioner of Income Tax | Section 80-I Deduction on Service Charges from Heavy WaterPlant | Delhi High Court
Facts of the Case
KRIBHCO operated an Ammonia/Urea Plant at Hazira.
The Heavy Water Board established a Heavy Water Plant adjacent to
KRIBHCO's premises under agreements executed between the parties.
KRIBHCO ...
Commissioner of Income Tax (Central-I) vs Jakson Ltd.: Analysis of Section 271(1)(c) Penalty on Deductions under Section 80-IB
Facts of the
Case:The appeals by the revenue arose from the common
order dated 22.06.2012 of the Income Tax Appellate Tribunal concerning
assessment years 2003-04 and 2004-05. The disputes involved penalties und...
Krishak Bharti Cooperative Limited (KRIBHCO) vs Deputy Commissioner of Income Tax & Additional Commissioner of Income Tax – Eligibility of Service Charges for Deduction under Section 80-I of the Income-tax Act, 1961
Facts of the
Case
KRIBHCO operated an Ammonia/Urea Plant at Hazira.
Adjacent to KRIBHCO's plant, the Heavy Water Board established a
Heavy Water Plant for manufacturing heavy water.
KRIBHCO entered into agre...
Commissioner of Income Tax vs Bhushan Capital & Credits Services Pvt Ltd – Disallowance of Loss on Sale of Shares under Income Tax Act, 1961, Section 260A
Facts of the
CaseThe Revenue (Commissioner of Income Tax) filed an
appeal under Section 260A of the Income Tax Act, 1961, challenging the order
dated 19.06.2009 by the Income Tax Appellate Tribunal in ITA No. 967/DEL/...
Commissioner of Income Tax-V vs Quadrant Infotech India (P) Ltd. – Delhi High Court on Eligibility of Deduction for a New Industrial Undertaking and Distinction Between Reconstruction and Independent Unit under the Income Tax Act
Facts of the
Case
The assessee established a new unit at Gurgaon within a technology
park.
Investments of approximately Rs. 1.19 crore were made toward
electrical installations and plant and machinery.
...
Ester Industries Ltd. vs Commissioner of Income Tax – Delhi High Court Clarifies Bar on Raising Fresh MAT Computation Challenges at Appellate Stage under Sections 115JA and 115JAA of the Income Tax Act
Facts of the CaseThe assessee, Ester Industries Ltd., filed its
return of income for Assessment Year 1997–98 declaring nil taxable income under
the normal provisions of the Income Tax Act. The assessee did not comput...
Ester Industries Limited vs Commissioner of Income Tax Delhi-IV | Whether MAT under Section 115JA Can Be Imposed Through Prima Facie Adjustment under Section 143(1)(a) – Delhi High Court
FACTS OF THE
CASE
The assessee company filed its return for Assessment Year 1998–99
declaring "Nil" income and specifically stated that provisions
of Section 115JA relating to MAT were not applicable.
...