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Smt. Usha Chaurasia & Ors. vs Assistant Commissioner of Income Tax & Anr. | Delhi High Court on Income Tax Refund and Interest on Excess Tax Payment | W.P.(C) Nos. 879/2016, 882/2016, 883/2016, 885/2016, 1008/2016, 1009/2016 & 1010/2016
Facts of the CaseThe petitioners approached the Delhi High Court by way of
writ petitions seeking refund of excess amounts deposited towards discharge of
their income tax dues, along with applicable statutory interest....
M/s Tej Quebcor Printing Ltd. vs Joint Commissioner of Income Tax | Section 10(15)(iv)(c) & Section 40(a)(i) of the Income-tax Act – Approval of Central Government for Foreign Loan Interest Deduction
Facts of the CaseThe assessee, M/s Tej Quebcor Printing Ltd., was engaged in
the business of printing and binding telephone directories. For business
purposes, it imported machinery from Quebecor Printing Ltd., Canada ...
Principal Commissioner of Income Tax (Central) vs M/s A2Z Maintenance & Engineering Services Ltd. – Section 263 Revision Invalid Where Assessment Under Section 143(3) Accepted Consistent Revenue Recognition under AS-7 | Delhi High Court
Facts of the CaseThe assessee, engaged in construction and maintenance
services including housekeeping and security services, filed its return for
Assessment Year 2007-08. The assessment was completed under Section 143...
Pr. Commissioner of Income Tax-4 vs Gulbarga Associates (P) Ltd. | Delhi High Court | ITA Nos. 755/2015 & 756/2015 | Reliance on Precedent in Tax Appeals | Income Tax Act Case Law
Facts of the
CaseThe Revenue filed two connected appeals before the
Delhi High Court against the respondent-assessee, Gulbarga Associates (P) Ltd.,
challenging the findings rendered by the lower appellate authority. T...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Delhi High Court on Valuation of Slow-Moving Stock under Section 145 & Section 145A of the Income Tax Act
Facts of the CaseNational Fertilizers Ltd., a public sector undertaking
engaged in manufacturing and distribution of fertilizers, maintained
substantial inventories including slow-moving and obsolete stock items.During...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. (Delhi High Court) – Validity of Slow-Moving Stock Valuation under Section 145 & Section 145A of the Income Tax Act
Facts of the CaseNational Fertilizers Ltd., a public sector undertaking
engaged in manufacturing and distribution of fertilizers, maintained inventory
including stores and spare parts. During the financial year relevan...
Pr. Commissioner of Income Tax-6 vs National Fertilizers Ltd. | Delhi High Court Upholds Valuation of Slow-Moving and Obsolete Inventory under Section 145 & Section 145A of the Income Tax Act
Facts of the
CaseThe respondent-assessee, National Fertilizers Ltd.,
a public sector undertaking engaged in manufacturing and distribution of
fertilizers, maintained substantial inventory including stores and spare pa...
Delhi High Court | Penalty under Section 271(1)(c) read with Explanation 5 | Scope of Return Filed under Section 153A vis-à-vis Original Return under Section 139(1)
Facts of the CaseThe assessees had originally filed their returns
under Section 139(1) declaring certain income for Assessment Years 2005-06 and
2006-07.Subsequently, a search and seizure operation under
Section 132 w...
Pr. Commissioner of Income Tax-4 vs Gulbarga Associates (P) Ltd. | Delhi High Court on Section 68 of Income Tax Act | Addition on Share Capital and Burden of Proof
Facts of the
CaseThe Revenue preferred appeals against the assessee,
Gulbarga Associates (P) Limited, challenging the order of the Income Tax
Appellate Tribunal wherein additions made by the Assessing Officer under
S...
Delhi High Court on Penalty under Section 271(1)(c) read with Explanation 5 and Section 153A of the Income Tax Act, 1961 – Whether Additional Income Declared in Return Filed Pursuant to Search Automatically Attracts
Facts of the
CaseThe Revenue filed four appeals under Section 260A
challenging separate orders of the Income Tax Appellate Tribunal (ITAT)
concerning penalty proceedings under Section 271(1)(c) of the Income Tax Act.
...