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Maruti Suzuki India Ltd. vs Additional Commissioner of Income Tax (Transfer Pricing Officer), New Delhi – Delhi High Court on Transfer Pricing, Royalty Payments, Marketing Intangibles, Brand Promotion and Natural Justice under Sections 92, 92B & 92CA of the Income Tax Act
Facts of the
Case
Maruti Suzuki India Ltd. was engaged in the manufacture and sale of
automobiles and automotive components in India.
Maruti entered into a technical collaboration and licence agreement
w...
Commissioner of Income Tax-II vs. Mrs. Kusum Gupta: Deletion of Addition Under Section 68 for Unexplained Gifts Upheld Where Identity, Creditworthiness, and Genuineness Are Proved via Registered Deeds and Banking Channels
Facts of the Case
The
Revenue filed an appeal under Section 260A of the Income Tax Act, 1961
against an order dated October 24, 2008, passed by the Income Tax
Appellate Tribunal (ITAT), Delhi.
The
...
Commissioner of Income Tax vs. Subhash Chand: Validity of Addition Based Solely on Surrender/Admission During Survey Under Section 133A of Income Tax Act, 1961 When Retracted and Supported by Book Results
Facts of the Case
Survey
Operation: On March 8, 2002, a survey operation under
Section 133A of the Income Tax Act, 1961, was conducted at the business
premises of the respondent-assessee.
Initial
...
Janardhan Verma v. Assistant Commissioner of Income Tax [2010] 2010:DHC:3280-DB (Delhi High Court) – Addition on Unexplained Jewellery Found During Search Proceedings under Sections 132 and 260A of the Income Tax Act, 1961
Facts of the
CaseA search and seizure operation was conducted on 04
March 2002 at the premises of Janardhan Verma and his son. During the course of
the search, jewellery weighing 1737.5 grams valued at Rs. 7,81,875/- ...
Neeraj Gupta v. Commissioner of Income Tax (Delhi High Court) – Notice under Section 143(2) Issued Beyond Limitation Period Renders Block Assessment Invalid | Sections 143(2), 158BC(c) & 260A of the Income-tax Act, 1961
Facts of the
Case
A block assessment was undertaken for the block period from
01.04.1990 to 18.01.2001.
The Income Tax Appellate Tribunal passed an order dated 30.01.2009
against the assessee.
Aggrieve...
The Commissioner of Income Tax, Delhi-IV vs. M/s Gautam Motors | Allowability of Business Expenditures under Section 36(1)(iii) and Section 40A(2)(b) of the Income Tax Act, 1961: Core Principles Governing Commercial Expediency, Deductibility of Bank Interest on Borrowed Capital, and Inter-Corporate Transactions via Sister Concerns
Facts of the Case
The
Assessee: The respondent-assessee, M/s Gautam Motors,
filed its income tax return for the Assessment Year (AY) 2000-01.
The
Business Context: The assessee operated as a commer...
Commissioner of Income Tax, Delhi-VII vs. M/s Talangang Cooperative Group Housing Society Ltd. | Delhi High Court | Section 260A, 80P, 234B & Principle of Mutuality under the Income Tax Act, 1961
Facts of the
CaseThe assessee, M/s Talangang Cooperative Group
Housing Society Ltd., filed its return of income for Assessment Year 2001-02
declaring a loss. The case was selected for scrutiny and notices under Sectio...
Rajan Gupta v. Commissioner of Income Tax (Delhi High Court) – Notice under Section 143(2) Issued Beyond Limitation Period Invalidates Block Assessment under Section 158BC
Facts of the
Case
A search was conducted on 18.01.2001 and was completed in March 2001.
Notice under Section 158BC was served upon the assessee on
03.12.2001.
The assessee filed the block return on 31....
Commissioner of Income Tax vs. Sudhir Thakran (and Sukhbir Thakran): Scope of Revisionary Jurisdiction Under Section 263 and Validity of Assessment Orders Passed on Merits in De Novo Remand Proceedings Following Search and Seizure Operations
Facts of the Case
Search
and Seizure: A search, seizure, and survey operation was
conducted on November 6, 1996, leading to the seizure of several books of
account and related documents.
Initial
...
Commissioner of Income Tax, Delhi-IV, New Delhi vs. Eltec SGS (P) Ltd. | Deduction under Sections 80IB and 80HHC – Treatment of Duty Drawback while Computing Business Profits | Delhi High Court
Facts of the
Case
The assessee claimed deduction under both Section 80IB and Section
80HHC of the Income Tax Act, 1961.
The deduction under Section 80IB related to duty drawback earned
from exports.
Th...