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Commissioner of Income Tax v. Blue Bird Group Assessees & Others | Delhi High Court | Addition on Alleged Bogus Gifts in Block Assessment Cannot Survive Without Incriminating Material Found During Search
Facts of the
CaseA search and seizure operation was conducted at the
residential and business premises of the Blue Bird Group, to which all the
assessees belonged. Pursuant to the search, notices for block assessment ...
Commissioner of Income Tax-IV vs. M/S. Dwarkadhish Investment (P) Ltd. & M/S. Dwarkadhish Capital (P) Ltd.: Shifting of Onus of Proof and Scope of Investigation Under Section 68 of the Income Tax Act, 1961 Regarding Unexplained Share Application Money
Facts of the Case
The
respondent-assessees, M/S. Dwarkadhish Investment (P) Ltd. and M/S.
Dwarkadhish Capital (P) Ltd., were incorporated on March 23, 1985, and
were engaged in the business of financi...
Delhi High Court: Bonds Fall Within the Meaning of Debentures for Sections 11 and 13(1)(d); Charitable Trust's Tax Exemption Cannot Be Denied for Investment in Bonds
Facts of the
CaseA search and seizure operation under Section 132 of
the Income-tax Act was conducted at the premises of the assessees. Consequent
assessments were framed under Section 153A of the Act.During assessmen...
Commissioner of Income Tax-IV vs. Dhawan Jewellers Pvt. Ltd. | Deletion of Section 68 Unexplained Share Capital Addition Based on Corporate Identity and Genuineness Established via PAN, ROC, and Balance Sheet Records
Facts of the CaseThe Revenue filed an appeal under Section 260A of the Income
Tax Act, 1961, challenging the order dated 15th May, 2009, passed by the Income
Tax Appellate Tribunal (ITAT) in ITA No. 787/Del/2009 for th...
Commissioner of Income Tax-IV vs. M/s. Dwarkadhish Investment (P) Ltd. & Anr.: Onus of Proof and Shifting of Burden Under Section 68 of the Income Tax Act Regarding Share Application Money
Facts of the Case
The
respondent-assessees (M/s. Dwarkadhish Investment (P) Ltd. and M/s.
Dwarkadhish Capital (P) Ltd.) were engaged in financing and trading
shares.
For
the Assessment Year 2...
CIT/Director of Income Tax vs. Khatropel – Dismissal of Income Tax Appeals Due to Low Tax Effect Under Section 260A of the Income Tax Act, 1961
Facts of the CaseThe Revenue (Appellant) preferred four interconnected income
tax appeals, designated as ITAS Nos. 177/2009, 178/2009, 180/2009, and
181/2009, before the Hon'ble Delhi High Court against the respondent-...
Maintainability of Revenue's Appeals Under Section 260A: Delhi High Court Dismisses Multiple Income Tax Appeals (ITA No. 177/2009 & Others) in Limine Due to Cumulative Tax Effect Falling Below the Prescribed CBDT Monetary Limits for High Court Litigation
Facts of the CaseThe Revenue (Income Tax Department) filed four separate
statutory income tax appeals (ITA Nos. 177/2009, 178/2009, 180/2009, and
181/2009) before the High Court of Delhi. These appeals spanned across f...
Director of Income Tax vs. M/s Shree Visheshwar Nath Memorial Public Charitable Trust (2010) 2010:DHC:4086-DB – Exemption under Section 11 Cannot Be Denied Merely Because Trust Invested in Bonds Treated as Debentures under Law
Facts of the
Case
The respondent-assessee was a charitable trust.
The Income Tax Officer accepted that the objects of the trust were
charitable within the meaning of Section 2(15) of the Income-tax Act,
...
Commissioner of Income Tax vs Ms. Kavita Jha: Maintainability of Income Tax Appeals Under Section 260A Where Cumulative Tax Effect Falls Below the Prescribed Monetary Limits and Thresholds Policy
Facts of the CaseThe Revenue Department (Appellant) preferred four
interconnected income tax appeals under Section 260A of the Income Tax Act,
1961, against the Assessee (Respondent). These statutory appeals, registere...
Commissioner of Income Tax vs. M/s Noble Resources & Trading Pvt. Ltd. – Reassessment Beyond Four Years Held Invalid in Absence of Failure to Disclose Material Facts | Section 147 & Section 148 of the Income Tax Act, 1961
Facts of the
Case
The assessee, M/s Noble Resources & Trading Pvt. Ltd., filed
its return of income on 25 January 2001 declaring income of
Rs.13,40,570/-.
The return was processed and notice was duly...