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Acorus Unitech Wireless Pvt. Ltd. & Anr. vs Deputy Commissioner of Income Tax, Circle-1(1), Delhi | Validity of Reassessment Notice under Sections 147/148 During Availability of Scrutiny Proceedings under Section 143(2) | Delhi High Court
Facts of the Case
The
petitioner filed its return of income for Assessment Year 2009-10 under
Section 139(4) on 6 October 2010.
The
Assessing Officer issued a notice under Section 148 on 5 July 201...
Commissioner of Income Tax, Delhi vs. M/s Indian Sugar & General Industry Export Import Corporation Ltd. – Principles on Change in Method of Closing Stock Valuation and Adoption of Net Realisable Value (NRV) under Income Tax Act
Facts of the Case
The
respondent-assessee (M/s Indian Sugar & General Industry Export Import
Corporation Ltd., later known as Indian Sugar Exim Corp.) was an entity
explicitly engaged in the busin...
Anand Education Society vs Director General of Income Tax (Exemptions), Delhi | Section 10(23C)(vi) Registration for Educational Institutions – Delhi High Court
Facts of the Case
Anand Education Society was registered on 04.11.1982 and had been
running a school in Delhi since 1988.
The society was already granted registration under Section 12A of
the Income Tax A...
Commissioner of Income Tax vs. Indian Sugar Exim Corporation Ltd. — Scope of Valuation of Closing Stock, Section 14A Expense Disallowance, and Retrospective Applicability of Section 234D Interest
Facts of the CaseThe statutory revenue appeals were preferred by the Revenue
against the order of the Income Tax Appellate Tribunal (ITAT) concerning the
respondent-assessee, Indian Sugar Exim Corporation Ltd., for the...
Taxability of Written-Back Credit Balances, Salaries, and Uncashed Cheques: A Deep Dive into Section 41(1) Pre-Amendment Law via CIT vs. Mohan Meakin Limited
Facts of the Case
The
Assessee Profile: The respondent-assessee is a public limited
company engaged in the diverse manufacturing of Indian-Made Foreign Liquor
(IMFL), beer, mineral water, juices, brea...
Commissioner of Income Tax vs. Mother Dairy India Ltd. (and Connected Appeals) | Liability of TDS under Section 194H on Concessionaire Margins: Principal-to-Principal vs. Principal-and-Agent Relationship
Facts of the Case
The
Assessees: M/s Mother Dairy India Ltd. (Dairy) and M/s
Mother Dairy Food Processing Ltd. are the assessees for the Assessment
Years 2004-05 and 2005-06. Mother Dairy India Ltd. w...
Oriental Bank of Commerce vs. Deputy Commissioner of Income Tax: Condonation of Delay and Finality of Revisionary Orders Under Section 263 of Income Tax Act
Facts of the Case
The
Commissioner of Income Tax (CIT) passed a revisionary order under Section
263 of the Income Tax Act on March 16, 2007. In the order, the CIT
explicitly decided the issue regardin...
M/S Modipon Limited v. The Assistant Commissioner of Income Tax and Others: Validity of Reassessment Proceedings under Section 147 of the Income Tax Act, 1961, Following the Finality of Judicial Determinations Regarding the Effective Date of Corporate Amalgamation Schemes
Facts of the Case
Original
Assessments: The Assessing Officer completed original
assessment proceedings under Section 143(3) of the Income Tax Act, 1961
for the Assessment Years (AY) 1984-85 and 1985-...
Commissioner of Income Tax vs. Mohan Meakin Limited: Cessation of Liability and Taxability of Unclaimed Credit Balances Written Off Under Section 41(1)
Facts of the Case
The
respondent-assessee (M/s Mohan Meakin Limited) wrote back an
aggregate amount of ₹17,39,263 into its Profit and Loss Account
during the relevant previous year.
This
wr...
Essel Shyam Communication Ltd. vs. Commissioner of Income Tax: Scope of Deductions under Section 80-IA(4)(ii) for Telecommunication and Satellite Service Undertakings.
2. Facts of the Case
The
Assessee's Profile: The assessee, M/s Essel Shyam
Communication Ltd., is a public limited company providing satellite-based
telecommunication solutions, including VSAT service...