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Commissioner of Income Tax vs. Master India Pvt. Ltd. | Penalty Under Section 271(1)(c) for Debatable Deductions Under Section 80HHD
Facts
of the Case
·
The
respondent-assessee filed its income tax return for the Assessment Year (AY)
2001-2002, claiming a deduction of ₹53,92,895 under Section 8...
The Commissioner of Income-Tax-V vs. M/s R.J. Wood Pvt. Ltd.: Taxability of Rent Arrears and Determination of Annual Letting Value under Section 23 and Section 25B of the Income-Tax Act
Facts of the Case
The
respondent-assessee owned premises that were let out to five tenants under
lease agreements executed in October 1992, which specified mutually agreed
contractual rent.
A
...
Deemed Dividend Under Section 2(22)(e): Unrecorded Ascertained House Tax Liability Deductible From Accumulated Profits
Facts
of the Case·
The
Assessee, Sanjay Jain, held a 35% shareholding in a closely held company named M/s Jyoti Theatres Pvt. Ltd.· ...
Commissioner of Income Tax vs A.K. Sharma – Delhi High Court on ITA 834/2007: Interpretation of Section 37(1) and Business Expenditure Deductions
Facts of the
Case:The petitioner, Commissioner of Income Tax,
challenged the order of the Income Tax Appellate Tribunal (ITAT) which allowed
certain business expenditure claims of the respondent, A.K. Sharma,
under S...
Commissioner of Income Tax vs. Micromatic Machine Tools P. Ltd. | Business Expenditure Deductions under Section 37(1) of the Income Tax Act
Facts
of the Case·
Business
Profile: The assessee-company is the sole
Selling and Servicing Agent engaged in marketing machine tools and selling
spare parts for certa...
Commissioner of Income-Tax-V vs. R.J. Wood Pvt. Ltd.: Determination of ALV Under Section 23 and Taxability of Arrears of Rent Under Section 25B of the Income-Tax Act
Facts of the Case
Ownership
and Lease: The respondent-assessee owned property that
was leased out to five tenants under written agreements with mutually
agreed contractual rents starting in Octo...
Commissioner of Income Tax vs. Oriental Insurance Co. Ltd. | Maintainability of Income Tax Appeal Absent Committee on Disputes (COD) Approval
Facts
of the CaseThe Appellant (Commissioner of Income
Tax) filed appeals (ITA 488/2010 & ITA 493/2010) against the Respondent,
Oriental Insurance Co. Ltd., a Public Sector Undertaking (PSU). At the time of
filin...
Income Tax Officer vs. M/s Delhi Iron Works (Pvt.) Ltd. | Prosecution of Company for Failure to Deposit TDS Despite Acquittal of Director under Sections 276-B, 2(35), 194A, 204 & 278B of the Income Tax Act
Facts of the Case• M/s Delhi Iron Works (Pvt.) Ltd. was a private limited company. • The Income Tax Department filed multiple criminal complaints alleging failure to deduct and deposit TDS on interest payments m...
Rose Serviced Apartments Pvt. Ltd. & Anr. vs. Deputy Commissioner of Income Tax: Validity of Reassessment Under Section 147/148 Based on Mere Change of Opinion and Audit Objection
Facts of the Case
The
Assessee's Return: Petitioner No. 1 (Rose Serviced
Apartments India Pvt. Ltd.), a company engaged in trading long-term
investments and real estate, filed its return of income for...
Franchisee Business Expenditures and Commercial Expediency under Section 37(1): Commissioner of Income Tax vs. Agra Beverages Corporation P. Ltd.
Facts of the Case
The
respondent-assessee was a franchisee of M/s. Pepsi Food (Pvt.) Ltd.
(Pepsi). Under this Franchisee Agreement, the assessee held exclusive
rights for bottling, selling, and distri...