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Commissioner of Income Tax-XIII vs. Bansal Commodities & Ors. – RFA(OS) 17/2010
Facts of the CaseThe Appellant, the Commissioner of Income Tax-XIII,
preferred an appeal before the High Court of Delhi against the Respondents,
Bansal Commodities & Ors. The present matter arises out of RFA(OS) 17...
Commissioner of Income Tax-III vs. Arcotech Ltd. (Formerly SKS Ltd.) | Section 271(1)(c) Penalty and Section 43B Disallowance under Income Tax Act, 1961
Facts of the Case
The
respondent-assessee originally filed its return of income for the
Assessment Year (AY) 2003-04, declaring a net loss of ₹13,65,54,483/-,
which was backed by audited financial s...
MARC BATHING LUXURIES LTD. & ANR. Vs. INCOME TAX SETTLEMENT COMMISSION & ORS. — Delhi High Court Quashes Cryptic Order Under Section 245D(2C);
Facts of the CaseThe petitioners, Marc Bathing Luxuries Limited and Marc
Sanitation Private Limited (two sister concerns), were subjected to searches
conducted by the Central Excise Department on September 25, 2008, an...
COMMISSIONER OF INCOME TAX-I vs. ANGELIQUE INTERNATIONAL LTD. ### (Whether Deletion of Disallowance under Section 40(a)(i) is Justified on Foreign Export Commission Paid Prior to Prospective Withdrawal of Beneficial CBDT Circulars under Section 119 and Section 195)
Facts of the CaseThe respondent assessee, Angelique International Ltd., made
genuine payments amounting to ₹37,87,26,158/- as commission/discount on sales
to foreign third parties situated outside India. These non-re...
Commissioner of Income Tax-IV vs. M/S Hero Management Service Limited: Scope of Disallowance Under Section 14A and Accrual of Business Liabilities Under Mercantile System
Facts of the CaseThe Revenue filed an appeal against M/S Hero Management
Service Limited for the Assessment Year 2007-08. The Assessing Officer (AO)
made substantial additions of ₹6,75,64,435/- to the assessee's retu...
Commissioner of Income Tax-IV vs. M/s H.T. Music & Entertainment Co. Ltd. – Training Expenditure, Royalty Payment & Depreciation on Computer Accessories under Sections 37(1), 32 & 260A of the Income Tax Act
Facts of the CaseThe Revenue filed appeals before the Delhi High Court
against the order of the Income Tax Appellate Tribunal concerning assessment
years 2007-08 and 2008-09. Two principal disputes arose between ...
Commissioner of Income Tax, Delhi-I vs. M/s Samtel India Limited – Section 37(1) Deduction on Unutilised MODVAT Credit | Delhi High Court
Facts of the CaseThe dispute arose in relation to the claim of deduction made
by the assessee, M/s Samtel India Limited, concerning unutilised MODVAT credit
amounting to ₹3.95 crores for Assessment Year 1995-96.The a...
M/s GS1 India vs. Director General of Income Tax (Exemption) – Section 2(15) & Section 10(23C)(iv) of the Income-tax Act | Charitable Institution vs Commercial Activity Test
Facts of the CaseThe petitioner, M/s GS1 India, was a not-for-profit
society promoted by the Ministry of Commerce and Industry along with several
trade and governmental organizations. The society was established ...
Commissioner of Income Tax-II, New Delhi vs. Mira Exim Ltd. – Depreciation on Imported Cars Acquired Through Amalgamation under Section 32(1) of the Income Tax Act
Facts of the CaseMira Exim Ltd., a public limited company engaged in the
business of manufacturing and trading of readymade garments and accessories,
underwent a scheme of arrangement and amalgamation sanctioned by the...
Supreme Court on Reassessment under Sections 147 & 148 of Income Tax Act: Mere Change of Opinion Cannot Justify Reopening – Analysis of Sanand Properties Pvt. Ltd. v. Joint Commissioner of Income Tax
Facts of the CaseThe assessee, Sanand Properties
Pvt. Ltd. (“SPPL”), entered into an Agreement dated 29.04.2003 with M/s Raviraj
Kothari & Co. for constituting an Association of Persons (AOP) known as
“Forta...