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Director of Income Tax vs. M/s. Mitsubishi Corporation (and M/s. Jacabs Civil Incorporated): Section 234B Interest Deleted for Non-Resident as Tax was Fully Deductible at Source; Retrospective Levy of Section 234D Interest Rejected
Facts of the CaseThe Revenue preferred a batch of appeals under Section 260A of
the Income Tax Act, 1961, challenging a series of concurrent orders passed by
the Income Tax Appellate Tribunal (ITAT) which deleted inter...
Commissioner of Income Tax vs Assessee (ITA No. 403/2005, ITA No. 404/2005 & ITA No. 737/2009) – Incentive Subsidy as Capital Receipt and Allowability of PF/DLI Payments under Section 43B
Facts of the CaseThe Revenue filed appeals before the Delhi High Court
challenging the order of the Income Tax Appellate Tribunal (ITAT). In ITA No.
403/2005, two substantial questions of law were framed:
Whether
...
Commissioner of Income Tax vs Ankitech Pvt. Ltd. & Connected Matters (Delhi High Court) – Taxability of Deemed Dividend under Section 2(22)(e) in the Hands of a Non-Shareholder Concern
Facts of the CaseA group of appeals before the Delhi High Court
involved a common question regarding the interpretation of Section 2(22)(e) of
the Income-tax Act, 1961.In the lead matter, Ankitech Pvt. Ltd. filed its
...
Commissioner of Income Tax vs Betterways Finance & Leasing Pvt. Ltd. | Additional Evidence under Rule 46A and Validity of Contract Novation under Section 62 of the Contract Act
Facts of the CaseFor Assessment Year 2001-02, Betterways Finance &
Leasing Pvt. Ltd. filed its return declaring income of ₹3,67,26,812.The assessee had obtained loans of ₹4 crores from Enam
Securities Pvt. Ltd....
Mohan Meakin Limited v. Commissioner of Income Tax, Delhi [2011] 2011:DHC:2640-DB (Delhi High Court) – Business Loss on Irrecoverable Trade Advances Allowable as Deduction under Sections 28 and 37 of the Income-tax Act, 1961
Facts of the
CaseThe assessee, Mohan Meakin Limited, was engaged in
the manufacture and sale of liquor, beer, juices, canned products and glass
bottles. During Assessment Year 1986-87, the assessee claimed deduction o...
Commissioner of Income Tax vs. M/s S.T. Micro Electronics Pvt. Ltd. | Delhi High Court Upholds Deduction of MBO Incentive, PF Contribution Paid Within Grace Period & Expense Allocation Methodology [ITA No. 928/2010]
Facts of the CaseThe assessee, M/s S.T. Micro Electronics Pvt. Ltd., operated
two divisions:
A
100% Export Oriented Unit (EOU) at NOIDA engaged in export of software.
A
Sales and Marketing (S&M) Divi...
Sh. Dinesh Kumar Goel v. Commissioner of Income Tax – Allowability of Genuine Business Expenditure Claimed Through Revised Return Cannot Be Denied Merely Because Bills Were Not Ledgerized | Delhi High Court
Facts of the
CaseThe assessee filed his original return for
Assessment Year 1997-98 declaring taxable income and claiming deduction of
advertisement expenditure.Subsequently, a search under Section 132(1) of the
Inco...
Director of Income Tax vs. M/s. Jacabs Civil Incorporated (and M/s. Mitsubishi Corporation): Section 234B Interest Deleted for Non-Resident Assessees as Tax is Fully Deductible at Source; Section 234D Interest Prohibited Retrospectively
Facts of the CaseThe Revenue preferred a batch of tax appeals under Section
260A of the Income Tax Act, 1961, challenging a series of concurrent orders
passed by the Income Tax Appellate Tribunal (ITAT) which deleted i...
Commissioner of Income Tax v. Ram Kishan Dass & Connected Matters – Limitation for Completion of Assessment under Section 153A of the Income-tax Act, 1961 – Delhi High Court Dismisses Revenue Appeals Following CIT v. Bishan Saroop Ram Kishan Agro Pvt. Ltd.
Facts of the Case
The
Revenue filed multiple appeals against the orders passed in favour of the
assessees, namely Ram Kishan Dass and Sunder Exports.
The
principal issue involved the validity and li...
CIT v. Assessee (ITA No. 541/2010) – Delhi High Court | Penalty under Section 271(1)(c) Cannot Be Levied on Bona Fide Claims Relating to Royalty, Sales Tax Interest and Additional Sales Tax
Facts of the
CaseThe Assessing Officer initiated penalty proceedings
after making additions/disallowances on the following grounds:1. Royalty
Payment DisallowanceThe assessee had claimed deduction of royalty
expendit...