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Commissioner of Income Tax Vs M/s Ansal Housing & Construction Ltd. / M/s Ansal Properties & Industries Ltd. – Taxability of Annual Letting Value (ALV) on Unsold Flats Held as Stock-in-Trade under Sections 22 & 23 of the Income Tax Act | Delhi High Court
Facts of the
Case
The assessees were engaged in the business of real estate
development and construction activities.
Certain flats and properties constructed by the assessees remained
unsold and were ref...
Commissioner of Income Tax vs. M/s Ansal Housing & Construction Ltd. & M/s Ansal Properties & Industries Ltd. – Delhi High Court | Disposal of Connected Income Tax Appeals Following Earlier Binding Judgment
Facts of the Case The Commissioner of Income Tax filed several appeals before the High
Court challenging orders passed in favour of the respondent companies in income
tax proceedings. The disputes pertained to ass...
PepsiCo India Holdings Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. | Delhi High Court | Section 153C Income Tax Act | Meaning of “Belongs To” in Search & Seizure Proceedings
Facts of the CaseA search and seizure operation under Section 132(1)
of the Income Tax Act, 1961 was conducted on the Jaipuria Group on 27.03.2012.
During the course of the search, certain documents were allegedly foun...
PepsiCo India Holdings Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. – Delhi High Court Clarifies Scope of Section 153C of the Income Tax Act on Seized Documents “Belonging To” Assessee
Facts of the CaseA search and seizure operation under Section 132(1)
was conducted on the Jaipuria Group on 27.03.2012. During the search, certain
documents were seized which, according to the Revenue, belonged to Peps...
PepsiCo India Holdings Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. | Delhi High Court on Section 153C Proceedings, “Belongs To” Test & Invalid Satisfaction Note under Income Tax Act
Facts of the Case
A search and seizure operation under Section 132(1) of the Income
Tax Act was conducted on the Jaipuria Group on 27.03.2012.
During the search, certain documents were allegedly found wh...
Commissioner of Income Tax IV vs Fair Finvest Ltd – Delhi High Court on Section 68 of Income Tax Act, 1961 (Share Application Money & Accommodation Entries)
Facts of the
Case:In the reassessment proceedings for the assessment
year 2002-03, the Revenue sought to tax income allegedly escaped assessment,
amounting to 55,01,125/-, relating
to share application money received...
Kiwanis Club of New Delhi vs Director of Income Tax (Exemptions) | Delay in Filing Return, Refund Claim & Non-Submission of Original TDS Certificates under Sections 119(2)(b), 139 & 143 of Income Tax Act
Facts of the
CaseThe petitioner, Kiwanis Club of New Delhi, was a
charitable organization registered under Section 12A of the Income Tax Act and
engaged in philanthropic activities, including providing artificial limb...
The Commissioner of Income Tax, Delhi vs. Smt. Renu Gupta – Delhi High Court Review of ITAT Order on Accommodation Entries and Jewellery Sales under Income Tax Act
Facts of the
CaseThe Revenue (Commissioner of Income Tax, Delhi)
challenged the Income Tax Appellate Tribunal (ITAT) order dated 29.08.2008,
which had upheld the deletion of an amount added back on account of alleged
...
Commissioner of Income Tax, Delhi-VI vs Usha International Ltd. – Penalty under Section 271(1)(c) for Bogus Donation Claim under Section 35CCA and Effect of Revised Return on Concealment Proceedings
Facts of the
Case
The assessee, Usha International Ltd., filed its return for
Assessment Year 1983–84 and claimed deduction of ₹10,00,000 under Section
35CCA towards a donation purportedly made to Shri...
Commissioner of Income Tax-III v. Rajat Lal | Delhi High Court | Penalty under Section 271(1)(c) Cannot Survive When Quantum Addition Itself Is Set Aside | AY 1997–98
Facts of the
Case
The assessee filed a return declaring income of Rs. 39,18,664.
The Assessing Officer made additions toward capital gains after
concluding that certain shares had been transferred during the r...