Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Commissioner of Income Tax, Delhi vs. M/s Bhushan Steels & Strips Ltd. & M/s Vardhman Industries Ltd.
Facts of the
CaseThe assessees, M/s Bhushan Steels & Strips
Ltd. and M/s Vardhman Industries Ltd., established/expanded
industrial units in notified backward areas of Uttar Pradesh and claimed
benefits unde...
Principal Commissioner of Income Tax (Central)-1 vs Sahara India Financial Corporation Ltd. | Delhi High Court | Section 260A Income-tax Act | Revenue Appeal Dismissed Following Earlier Binding Precedents
Facts of the CaseThe present batch of appeals was filed by the Revenue before
the Delhi High Court under Section 260A of the Income-tax Act, 1961,
challenging the common order dated 13 December 2016 passed by the Incom...
Commissioner of Income Tax vs ITC Limited (Delhi High Court) – Royalty Paid to Airports Authority of India Held as ‘Rent’ Liable for TDS under Section 194-I | Penalty under Section 271C Deleted on Bona Fide Belief
Facts of the CaseITC Limited was awarded a contract by Airports
Authority of India (AAI) for operating an Executive Lounge at Indira Gandhi
International Airport after a bidding process. Under the License Agreement, IT...
Principal Commissioner of Income Tax (Central)-1 vs Vijay Kumar Kataria | Delhi High Court | Revenue Appeals Dismissed for Assessment Years 2004-05, 2005-06, 2006-07 & 2007-08
Facts of the Case
The
Revenue filed four connected appeals against a common order passed by the
appellate authority.
These
appeals related to multiple assessment years, namely AY 2004-05, AY
...
Commissioner of Income Tax vs M/s Bhushan Steels and Strips Ltd | Delhi High Court | Sales Tax Subsidy as Capital Receipt u/s 43B & Section 4-A UP Sales Tax Act
Facts of the CaseThe assessees, M/s Bhushan Steels and Strips Ltd
and connected assessees including M/s Vardhman Industries Ltd, established
industrial units in notified backward areas of Uttar Pradesh and became...
Commissioner of Income Tax vs I.T.C. Limited (Delhi High Court) – TDS on Royalty Paid to Airports Authority of India: Whether Royalty for Executive Lounge Operation Constitutes Rent under Section 194-I and Liability under Sections 201(1A), 271C & 273B of the Income Tax Act, 1961
Facts of the CaseThe assessee, I.T.C. Limited, was awarded a
contract by Airports Authority of India (AAI) to operate an Executive Lounge at
the Indira Gandhi International Airport, New Delhi, pursuant to a tender
pro...
Commissioner of Income Tax, Delhi vs M/s Bhushan Steels and Strips Ltd. | Delhi High Court on Taxability of Sales Tax Exemption as Capital Receipt under Section 43B of the Income-tax Act & Section 4-A of the U.P. Sales Tax Act
Facts of the
CaseThe assessees, namely M/s Bhushan Steels and
Strips Ltd. and M/s Vardhman Industries Ltd., established and
expanded industrial units in notified backward areas of Uttar Pradesh,
including Sahibabad (...
Principal Commissioner of Income Tax (Central)-1 vs Sahara India Financial Corporation Ltd. | Delhi High Court | Section 260A Income Tax Act | Revenue Appeals Dismissed Following Earlier Binding Precedents
Facts of the CaseThe Principal Commissioner of Income Tax (Central)-1
preferred multiple appeals before the Delhi High Court against the order of the
Income Tax Appellate Tribunal dated 13 December 2016. The ITAT had d...
Principal Commissioner of Income Tax (Central)-1 vs Vijay Kumar Kataria | Delhi High Court Upholds ITAT Order and Dismisses Revenue Appeals for AYs 2004-05, 2005-06, 2006-07 & 2007-08
Facts of the Case
The
Revenue filed four connected appeals before the Delhi High Court against a
common order of the ITAT.
The
appeals related to Assessment Years 2004-05, 2005-06, 2006-07, and
...
CIT Delhi vs Bhushan Steels and Strips Ltd. & Vardhman Industries Ltd. – Whether Sales Tax Exemption Incentive in Backward Areas is Capital Receipt or Taxable Revenue Receipt under Section 43B of the Income Tax Act
Facts of the
Case
The assessees, M/s Bhushan Steels and Strips Ltd. and M/s
Vardhman Industries Ltd., established and expanded industrial units in
notified backward areas of Uttar Pradesh.
T...