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Commissioner of Income Tax-II vs. Jagson International Ltd (2008): Validity of Re-assessment Under Section 147 of the Income Tax Act, 1961 – No Re-opening of Assessment Allowed Based on Re-appraisal of Existing Material Without New Information
Facts of the Case
The
Revenue Department filed an appeal against the Income Tax Appellate
Tribunal's (ITAT) order dated March 20, 2008, in ITA No. 13/D/2003 for the
Assessment Year 1998-99.
The
...
Commissioner of Income Tax vs Assessee – Whether Assessing Officer Can Invoke Section 154 to Substitute Interest Computation Under Section 244(1A) with Section 244A After CIT(A)’s Order Attains Finality | Delhi High Court
Facts of the
Case
The CIT(A), by order dated 27.02.2006, dealt with the issue
relating to grant of interest on refund.
At that stage, the controversy was not whether Section 244A or
Section 244(1A)...
Commissioner of Income Tax-II vs. Jagson International Ltd: Validity of Income Tax Re-assessment Under Section 147 Based on Existing Records Without New Material
Facts of the CaseThe appeal was filed by the Revenue (Commissioner of Income
Tax-II) against the order dated March 20, 2008, passed by the Income Tax
Appellate Tribunal (ITAT) in ITA No. 13/D/2003 for the Assessment Ye...
The Commissioner of Income Tax, Delhi (Central)-II vs. Pawan Kumar Garg: Whether an Additional Director of Income Tax (Investigation) Possesses Statutory Jurisdiction to Issue a Warrant of Authorization for Search and Seizure Operations Under Section 132(1) of the Income Tax Act, 1961, and Its Impact on the Limitation Period for Block Assessment
Facts of the Case
Initial
Search: On May 25, 2000, a valid warrant of
authorization was issued by the Director of Income Tax (Investigation)
under Section 132(1) of the Income Tax Act, 1961, and Rule ...
Commissioner of Income Tax (Central-I) vs. M/s Lufthansa German Airlines – High Court of Delhi Case Law Summary & Analysis on Judicial Precedent and Finality of Tax Assessments under Section 260A of the Income Tax Act, 1961
Facts
of the CaseThe Income Tax Department (Revenue)
preferred statutory appeals (ITA Nos. 1058/2008 and 1109/2008) before the
Division Bench of the Hon’ble High Court of Delhi against the Assessee, M/s
Lufthansa G...
The Commissioner of Income Tax Delhi-IV vs. Gupta Abhushan Pvt. Ltd. – Validity of Reopening of Assessment Under Section 147 of the Income Tax Act, 1961: Whether Material and Discrepancies Discovered During a Survey Can Be Extrapolated to Previous Assessment Years Based on Mere Suspicion Rather Than "Reason to Believe."
Facts of the Case
The
Assessee, M/s Gupta Abhushan Pvt. Ltd., filed its income tax returns for
the Assessment Years (AY) 1999-2000, 2000-2001, and 2001-2002. These
returns were initially processed und...
Director of Income Tax, New Delhi vs. KLM Royal Dutch Airlines: Whether Recovery/Adjustment of Warehouse Rent from a Cargo Handling Agent is Taxable in India under Article 6 or Exempt under Article 8 of the India-Netherlands DTAA
Facts of the Case
Assessee
Profile & Activity: The respondent-assessee,
M/s KLM Royal Dutch Airlines, is a company incorporated in the
Netherlands. Its principal business operations involve operat...
CIT vs. M/s [Respondent Name] | Rectification Under Section 154 Impermissible on Debatable Issues Regarding Interest Under Section 244(1A) vs. 244A
Facts
of the Case·
Background Order: The dispute originated from an order dated
February 27, 2006, passed by the Commissioner of Income Tax (Appeals) [CIT(A)].
In that...
Director of Income Tax, New Delhi vs. KLM Royal Dutch Airlines: Whether Recovery/Adjustment of Airport Warehouse Rent from Cargo Handling Agent Constitutes Separate Taxable Income in India under DTAA or Stands Exempted under Article 8 as Profits from International Traffic
Facts of the CaseThe assessee, KLM Royal Dutch Airlines, is a company
incorporated in the Netherlands with its place of effective management situated
there. Its core commercial business involves operating aircraft in
...
Commissioner of Income Tax, Delhi-X v. Bhartesh Jain: Deemed Consistency in Characterization of Share Trading Income and Set-Off of Brought Forward Speculation Losses Under Section 73 vs. Section 260A of the Income Tax Act, 1961
Facts of the Case
Assessment
Year & Return: For the Assessment Year (AY) 1995-96,
the Respondent-Assessee filed a return declaring 'Nil' income.
Best
Judgment Assessment: Due to the Assessee's ...