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Samvardhana Motherson International Ltd. vs Assistant Commissioner of Income Tax – Delhi High Court Quashes Reassessment under Sections 147/148 on Ground of Change of Opinion in Section 14A Disallowance Matter
Facts of the CaseThe petitioner-company, engaged in strategic
investments and functioning as a holding company, earned substantial exempt
dividend income during AY 2010–11 and AY 2011–12 and claimed exemption under...
Oriental Insurance Co. Ltd. vs Deputy Commissioner of Income Tax | Taxability of Profit on Sale/Redemption of Investments, Write-off of Investments & Applicability of Section 115JB to Insurance Companies under the Income Tax Act, 1961 (Delhi High Court)
Facts of the CaseThe assessee, Oriental Insurance Company Ltd., engaged in
the business of general insurance, filed its return for Assessment Year 2005–06
declaring loss under normal provisions and book profits under...
Pr. Commissioner of Income Tax-6, New Delhi vs Monnet Ispat & Energy Ltd. | Whether Income Tax Appeals Can Continue During IBC Moratorium under Sections 14 & 238 of Insolvency and Bankruptcy Code, 2016
Facts of the
CaseThe Revenue Department filed multiple Income Tax
Appeals before the Delhi High Court against Monnet Ispat & Energy Ltd.
arising from orders passed by the Income Tax Appellate Tribunal (ITAT)
rega...
Principal Commissioner of Income Tax, Delhi-2 vs Best Infrastructure (India) Pvt. Ltd. | Delhi High Court on Sections 68, 132(4) & 153A of Income Tax Act – Whether Statement Recorded During Search Alone Constitutes Incriminating Material
Facts of the CaseA search and seizure operation under Section 132
was conducted against the Best Group and related persons on 15.09.2008. During
the course of the search, certain loose papers/documents were seized whic...
Oriental Insurance Company Ltd. vs Deputy Commissioner of Income Tax | Commissioner of Income Tax (LTU), New Delhi vs Oriental Insurance Company Ltd. Taxability of Profit on Sale/Redemption of Investments by General Insurance Companies and Applicability of Section 115JB (MAT) under the Income-tax Act, 1961
Facts of the CaseThe matter arose from three connected appeals before the
Delhi High Court concerning Assessment Year 2005–06. The Assessee, Oriental
Insurance Company Ltd., engaged in general insurance business, fil...
M/s Avalon Business Associates vs Principal Commissioner of Income Tax-14 & Anr. Section 263 Revision Proceedings on Section 10B Deduction for Export Oriented Unit (EOU) – Validity of Development Commissioner’s Approval and Requirement of Board Ratification | Delhi High Court
Facts of the CaseThe assessee, M/s Avalon Business Associates,
had claimed deduction under Section 10B of the Income Tax Act, 1961 for
its Export Oriented Unit (EOU) for the Assessment Year 2011–12. The Assessing
Of...
Principal Commissioner of Income Tax, Delhi-2 vs Best Infrastructure (India) Pvt. Ltd. & Connected Matters Delhi High Court on Scope of Sections 68 & 153A of the Income-tax Act, 1961 – Whether Statement under Section 132(4) Alone Constitutes Incriminating Material for Search Assessments
Facts of the CaseThe Revenue conducted a search and seizure
operation under Section 132 in the case of the Best Group of Companies and one
Tarun Goyal on 15.09.2008. During the search, certain loose papers and
documen...
Pr. Commissioner of Income Tax-6, New Delhi vs Monnet Ispat & Energy Ltd. | Delhi High Court on Moratorium under Section 14 of Insolvency and Bankruptcy Code overriding Income Tax Proceedings
Facts of the
CaseThe Revenue Department filed multiple Income Tax
Appeals before the Delhi High Court challenging the order passed by the Income
Tax Appellate Tribunal (ITAT) in relation to tax liability of Monnet Isp...
Swarovski India Pvt. Ltd. Vs Deputy Commissioner of Income Tax, Circle-7(1), New Delhi | Reopening of Assessment under Sections 147/148 and Deduction under Section 10B of the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseThe Petitioner, Swarovski India Pvt. Ltd., was engaged in
manufacturing imitation pearls and trading crystal-related products in India.
It operated two units—one at Pune and one at Delhi.The Pune uni...
Pr. Commissioner of Income Tax (Central)-2 vs M/s Frontline Business Solutions Pvt. Ltd. & Ors. | Rectification of Settlement Commission Orders under Sections 245D(6B), 245C & Interest Liability under Section 234B of the Income Tax Act, 1961
Facts of the CaseThe present writ petition was filed by the Revenue
challenging the order dated 17 March 2016 passed by the Income Tax Settlement
Commission (ITSC), whereby the Commission dismissed the Revenue’s misc...