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Bikram Singh vs. Deputy Commissioner of Income Tax - Section 226(3) of Income Tax Act, 1961: Garnishee Order and Payment Dispute - High Court Ruling on Stay of Demand
Facts of the Case:
The petitioner, Bikram Singh, was assessed under Section 68 of the Income Tax
Act for Assessment Year 2011-12, with a demand raised for ₹4,39,71,545. The
assessing officer added ₹3,25,50,000 und...
"Commissioner of Income Tax-8 (Erstwhile CIT-III) vs Soyuz Industrial Resources Ltd.: Reassessment Proceedings and Sanctioning Authority under Section 151 of the Income Tax Act"
Facts of the Case:
In the matter of the assessment for the Financial Year 2002-03, the petitioner,
Commissioner of Income Tax-8 (Erstwhile CIT-III), filed an appeal
against Soyuz Industrial Resources Ltd. regarding th...
Director of Income Tax-II vs. M/s Pioneer Overseas CorporationDelhi High Court Upholds ITAT Order Deleting Penalty Proceedings: No Substantial Question of Law Arises under Section 271(1)(c) of the Income Tax Act
Facts of the
CaseThe assessee, M/s Pioneer Overseas Corporation, had
originally declared certain income as agricultural income. However, the
Assessing Officer treated the same as business income and further made
addi...
JRD Stock Brokers (P) Ltd. vs. Commissioner of Income Tax-II: Penalty Under Section 158BFA(2) on Estimated Undisclosed Income
Facts of the CaseOn November 24, 2000, a search operation was
conducted at the office of JRD Stock Brokers (P) Ltd. and the residences
of its Directors, resulting in the seizure of books and documents. The assessee
in...
Director of Income Tax vs. British Airways PLC: Liability of Interest under Section 234B for Foreign Companies
Facts of the CaseThe respondent, British Airways PLC, is a
foreign entity incorporated under the laws of the United Kingdom and is engaged
in providing air transport services. The assessee disputed its tax liability
r...
Commissioner of Income Tax Delhi vs. Tony Electronics Ltd. | Does Assembling Amount to Manufacturing under Section 80HH, 80I & 80IA?
Facts
of the Case
The
assessee is a company engaged in the manufacturing of cassettes,
specifically Audio Magnetic Tapes (AMT).
During
the assessment years 1994-95 and 1995-96, the assessee ...
R.L. Traders vs. Income Tax Officer: Delhi High Court Ruling on Section 145(2) & GP Rate Estimation
Facts of the Case
The
assessee is engaged in the business of preparation and trading of Hing.
For
the Assessment Year (AY) 2010-11, the assessee filed a return declaring an
income of ₹3,15,210/-....
Commissioner of Income Tax vs. Murari Lal Harish Chandra Jaiswal (P) Ltd.: Scope of Article 226 in Income Tax Settlement Cases
Facts of the Case:
The
petitions were directed against the orders passed by the Income Tax
Settlement Commission dated 01.11.2013 and 19.12.2013.
The
case involved a huge amount of cash amounting t...
CIT vs. Li & Fung (India) Pvt. Ltd. | Transfer Pricing & Arm's Length Price Determination under Rule 10B(1)(e) Income Tax Act, 1961.
Facts of the Case
The
Revenue filed appeals against a common order passed by the Income Tax
Appellate Tribunal (ITAT) concerning Assessment Years (AY) 2007-08 and
2008-09.
The
Assessing Offic...
Toluna India Private Ltd. vs Director of Income Tax (Investigation) Circle 12(1): Stay of Demand in W.P.(C) 2358/2015 – Delhi High Court Judgment
Facts of the
Case:The petitioner, Toluna India Private Ltd.,
filed W.P.(C) 2358/2015 before the Delhi High Court seeking an extension of
stay on the assessment order issued by the Income Tax Department. The
petitione...