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Commissioner of Income Tax vs. Smt. Chander Kanta Dua (With Sh. Sham Sarup Dua & B.R. Towers Pvt. Ltd.) | Quashing of Property Acquisition Proceedings Under Section 269C of Income Tax Act, 1961: High Court Validates Distress Sale and Rejects Flat Valuation Differences in Exchange Transactions Absent Dual-Property Fair Market Value Assessment
Facts of the Case
The
Competent Authority initiated acquisition proceedings under Chapter XXA of
the Income-Tax Act, 1961, regarding Property No. $16/78$, Punjabi Bagh,
New Delhi.
An
acquisit...
The Commissioner of Income Tax vs. Mesco Airlines Ltd. (with CIT vs. Natasha Singh) | Deletion of Mandatory Interest Under Section 158BFA(1) During Search Assessment – Delay in Supplying Seized Documents by Department vs. Assessee’s Laches under Section 158BC
Facts of the Case
Search
Operations: Search and seizure actions under Section 132
were executed on the assessee's premises on February 26, 1997, March 5,
1997, and March 20, 1997.
Statutory
N...
Director of Income Tax vs. Help Age India (Delhi High Court) – Exemption under Sections 11 & 12 Cannot Be Denied Merely Because Charitable Trust Received Shares as Donation in Kind | Section 13(1)(d)(iii) Interpretation
Facts of the
CaseThe assessee, Help Age India, a charitable
institution, filed its return for Assessment Year 2005-06 along with the audit
report under Section 12A(b) of the Income-tax Act. During scrutiny assessment,...
Commissioner of Income Tax vs. M/s Eicher Limited: Delhi High Court Ruling on the Invalidity of Section 147/148 Reassessment Proceedings Initiated on a Mere Change of Opinion and the Non-Sustainability of Defective Secondary Grounds
Facts of the Case
The
respondent-assessee, M/s Eicher Limited, filed its return of income for
the Assessment Year 1999–2000, declaring an income under Section 115JA.
The
assessment was initially ...
Commissioner of Income Tax vs. M/s Pratap Steel Rolling Mills & Anr. | Delhi High Court | Rule 23A Delhi Sales Tax Rules – Tribunal Cannot Decide Validity of Statutory Rules
Facts of the CaseM/s Pratap Steel Rolling Mills was engaged in the
business of manufacturing and selling iron and steel products. The assessee
purchased iron scrap from registered dealers against declarations furnished...
The Commissioner of Income Tax (Central-II) v. Sudhir Thakran: Legal Validity of Consequential Assessment Orders and the Automatic Quashing of Proceedings When the Foundational Revisionary Order Under Section 263 of the Income Tax Act, 1961 is Set Aside by the High Court
Facts of the Case
A
search and seizure operation was conducted against the assessee (Sudhir
Thakran), following which a block assessment order under Section 158BC was
passed by the Assessing Officer (...
Commissioner of Income Tax-XIII vs Sierra Industrial Enterprises Pvt. Ltd. | Delhi High Court Holds Royalty Paid for Use of Nike Trademark and Technical Information as Revenue Expenditure Under Section 37 of the Income Tax Act, 1961
Facts of the CaseSierra Industrial Enterprises Pvt. Ltd. entered
into a licensing agreement with Nike International Limited for sourcing,
marketing, and selling Nike-branded footwear and apparel in India.Under the agre...
Commissioner of Income Tax vs. Kanchan Bhalla & Gautam Bhalla (2010) – VDIS 1997 Jewellery Declaration Cannot Be Rejected Merely Because Jewellery Was Not Found in Earlier Searches | Delhi High Court
Facts of the
Case
The Assessing Officer made additions of Rs. 9,34,215/- and Rs.
8,20,410/- in the cases of Kanchan Bhalla and Gautam Bhalla respectively.
The additions were made on the allegation that the ass...
Commissioner of Income Tax vs. Kanchan Bhalla & Gautam Bhalla (Delhi High Court) – VDIS 1997 Jewellery Declaration Cannot Be Rejected Merely Because Jewellery Was Not Found in Earlier Searches | Sections 69 & 260A of the Income-tax Act, 1961
Facts of the
Case
Search and seizure proceedings were conducted in relation to the
Bhalla family.
Jewellery was found from the residence and lockers of the
assessees.
The assessees explained the source...
Commissioner of Income Tax v. Mesco Airlines Ltd. (with CIT Central v. Natasha Singh) | Liability of Interest Under Section 158BFA(1) on Block Assessment Returns Delayed Due to Non-Supply of Seized Documents by the Income Tax Department
Facts of the Case
Search
and Seizure: Search and seizure operations under Section
132 of the Income Tax Act, 1961, were carried out at the premises of the
assessee on 26.02.1997, 05.03.1997, and 20.03...