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Commissioner of Income Tax vs. Micromatic Machine Pvt. Ltd. | Delhi High Court Dismisses Revenue Appeal as Issue Already Covered by Earlier Judgment under Income Tax Act, 1961 | ITA No. 578/2010
Facts of the
Case
The Commissioner of Income Tax filed the present appeal before the
Delhi High Court against Micromatic Machine Pvt. Ltd.
At the time of hearing, counsel appearing for the Revenue
acknow...
Commissioner of Income Tax vs. Green Tech Tower Builders Pvt. Ltd. | Section 68 Income Tax Act: Deletion of Unexplained Share Application Money Paid via Cheque
Facts of the Case·
The Appellant (Revenue/Income Tax
Department) filed an appeal challenging the order dated August 21, 2009, passed
by the Income Tax Appellate Tribuna...
Commissioner of Income Tax v. IFCI Ltd., Delhi High Court, ITA No. 732/2010 (3 June 2010) — Penalty under Section 271(1)(c) – Mere Disallowance of Claim for Investments Written Off Does Not Amount to Furnishing Inaccurate Particulars of Income
Facts of the
CaseThe assessee, IFCI Limited, had written off certain
investments in its books of account and claimed the resulting loss as a
deduction while computing its total income. During the assessment proceeding...
Commissioner of Income Tax vs. Smt. Suraj Devi: DVO Report Cannot Form the Sole Basis for Undisclosed Investment Additions Without Corroborating Evidence or Rejection of Books of Accounts under Section 260A of the Income Tax Act, 1961
Facts of the Case·
Investment and
Registration: The respondent-assessee made
investments in properties located at Ground Floor, Bangla Sahib Road, New
Delhi, along wit...
Power Finance Corporation Ltd. vs. Additional Commissioner of Income Tax: Dismissal of Income Tax Appeal for Want of Prior Approval from Committee on Disputes (COD) under Section 260A of the Income-tax Act, 1961
Facts of the Case·
The Appellant, Power Finance Corporation Ltd. (a Public Sector
Undertaking), filed a series of Income Tax Appeals (ITA Nos. 1093/2010,
1095/2010, 109...
Commissioner of Income Tax-IV vs. Delhi Extrusion (P) Ltd. | Delhi High Court Upholds Deletion of Addition under Section 68 for Share Application Money Supported by PAN, Income Tax Returns and Share Allotment Records
Facts of the CaseThe assessee, Delhi Extrusion (P) Ltd., had
credited a sum of Rs. 25 lakhs in its books of account as share
application money during the Assessment Year 2003-04.The Assessing Officer held that the asse...
Commissioner of Income Tax, Delhi-IV vs IFCI Limited – Penalty under Section 271(1)(c) Cannot Be Levied for Bona Fide Mistake in Claiming Exempt Dividend Income | Delhi High Court
Facts of the
Case
The assessee, IFCI Limited, earned total dividend income of
approximately Rs. 1091.07 lakhs during Assessment Year 1998-99.
Out of the said dividend income, an amount of Rs. 10.45 lakhs
...
Commissioner of Income Tax vs Oracle Software India Ltd. – Depreciation on Software Media Held Allowable under Section 32 of Income Tax Act, 1961 | Delhi High Court Dismisses Revenue Appeal Following Supreme Court Ruling
Facts of the
Case
The Revenue preferred appeals before the Delhi High Court against
the orders passed in favour of the assessee.
The controversy involved the tax treatment and depreciation-related
issues...
Commissioner of Income Tax vs. Oracle Software India Limited – Whether Duplication of Software on Blank CDs Amounts to Manufacture or Production under Section 80-IA of the Income-tax Act, 1961 | Delhi High Court Followed Supreme Court Ruling
Facts of the
CaseThe Revenue preferred appeals before the Delhi High
Court in ITA Nos. 668/2010 and 669/2010 challenging the relief granted to the
assessee concerning the tax treatment of software duplication/manufact...
Commissioner of Income Tax vs. Sushil Kumar Agarwal: High Court Grants Liberty to File Section 254(2) Rectification Application Before ITAT Due to Alleged Erroneous Facts
Facts of the CaseThe Commissioner of Income Tax (the Appellant)
filed appeals (ITA No. 802/2010 and ITA No. 804/2010) before the Hon’ble High
Court of Delhi against the Income Tax Appellate Tribunal's (ITAT) order
c...