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Commissioner of Income Tax vs Mrs. Kulbir Kaur: Whether Deletion of Additions Under Section 69 Regarding Unexplained Investment in Immovable Property on the Basis of Third-Party Seized Loose Papers Without Corroborative Evidence Is Sustainable in Block Assessment
FACTS OF THE CASE
The
Revenue preferred an appeal before the Hon’ble High Court of Delhi against
the order of the Income Tax Appellate Tribunal (ITAT) dated 17th October
2008, concerning block asses...
Commissioner of Income Tax (CIT) vs VLS Finance Ltd. – Reassessment Beyond Four Years Invalid in Absence of Failure to Make Full and True Disclosure | Section 147, Section 148 & Section 35D of the Income-tax Act, 1961
Facts of the CaseThe assessee, VLS Finance Ltd., filed its
income tax returns for Assessment Years 1996-97 and 1997-98. The assessments
were completed under Section 143(3) of the Income-tax Act, 1961. The assessee
cla...
Commissioner of Income Tax vs. M/s Suruchi Aggarwal (ITAS No. 177/2009, 178/2009, 180/2009 & 181/2009): Delhi High Court Dismisses Revenue's Appeals on Grounds of Low Tax Effect under Section 260A
Facts of the CaseThe Revenue Department (Appellant) preferred four separate
statutory income tax appeals before the Hon'ble Delhi High Court. These
appeals—numbered ITAS No. 177/2009, 178/2009, 180/2009, and 181/2009...
Dabur India Ltd. vs. Commissioner of Income Tax [2010] 2010:DHC:4111-DB (Delhi High Court) – Revision under Section 263 for Wrong Allowance of Chapter VI-A Deductions on Capital Gains and Other Income
Facts of the
Case
The assessee, Dabur India Ltd., filed its return of income for
Assessment Year 1999-2000 declaring Nil income under normal provisions and
book profit under Section 115JA of the Income Tax...
Commissioner of Income Tax vs. M/S Rice India Exports Pvt. Ltd.: Whether Non-Production of a Supplier and a Marginal 1.5% Purchase Price Variance Justify Income Tax Additions on Alleged Bogus Purchases Under Section 260A
Facts of the CaseThe Revenue filed two appeals under Section 260A of the Income
Tax Act, 1961, challenging the order dated November 27, 2009, passed by the
Income Tax Appellate Tribunal (ITAT) for the Assessment Year 2...
Commissioner of Income Tax vs. M/S Rice India Exports Pvt. Ltd.: Onus of Proof in Alleged Over-Invoicing of Purchases and Disallowance Based on Mere Surmises under Section 260A of the Income Tax Act, 1961
FACTS OF THE CASE
The
Revenue filed two appeals under Section 260A of the Income Tax Act, 1961,
challenging the consolidated order dated 27th November, 2009 passed by the
Income Tax Appellate Tribunal...
Commissioner of Income Tax vs. Mahesh Kumar | Addition under Section 69 Based Solely on DVO Valuation Not Sustainable in Absence of Incriminating Evidence
Facts of the
CaseThe respondent-assessee, Mr. Mahesh Kumar,
purchased two residential plots bearing Plot Nos. 218 and 219 in Block-B,
Sector-8, Bagdolla Residential Scheme, Dwarka, Delhi, for ₹2,00,000 and
₹3,00,...
Commissioner of Income Tax vs. Mahesh Kumar (Delhi High Court) – Addition under Section 69 Based Solely on DVO Valuation Unsustainable in Absence of Incriminating Evidence | Sections 69, 142A & 260A of the Income Tax Act, 1961
Facts
of the CaseThe respondent-assessee
purchased two residential plots bearing Plot Nos. 218 and 219 in Block B,
Sector-8, Bagdolla Residential Scheme, Dwarka, Delhi, for ₹2,00,000 and
₹3,00,000 respectively.A ...
Commissioner of Income Tax v. Shri Bajrang Lal Bansal [2010] 2010:DHC:4124-DB (Delhi High Court)
Facts of the CaseA search and seizure operation was conducted by the
Income Tax Department at the residence of the assessee, Shri Bajrang Lal
Bansal, for the block period from 1 April 1989 to 17 December 1999.During th...
Commissioner of Income Tax vs. Fracht Forwarding & Travel (P) Ltd. — High Court Analysis on Deletion of Penalty Under Section 271(1)(c) for Bonafide Mistakes and Provision for Doubtful Debts
Facts of the CaseThe Revenue filed an appeal under Section 260A of the Income
Tax Act, 1961, challenging an order passed by the Income Tax Appellate Tribunal
(ITAT) on June 4, 2009, for the Assessment Year 2001-2002. T...