Blog Categories
All Posts
Accounting Standard 8
CBDT 1
Chartered Accountant 1
Chartered Engineer 1
Greetings 1
Income Tax Act 2025 0
Labour Law 2
MCA Notification 1
MSME 1
NGO- Trust & Society 0
PLACEMENT 1
Press Information Bureau, Government of India (PIB) 2
RBI & Banks 1
RERA 0
RTI 1
STUDENT ICAI 1
Virtual Webinar 5
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Deletion of Unexplained Cash Credits Under Section 68: CIT vs. Sophia Finance Ltd. Applied to Pre-Commencement Share Application Money
Facts of the CaseThe case revolves around the assessment year 2001-02, which
was the first year of operation for the respondent/assessee company, prior to
the commencement of its commercial production. During this asse...
Commissioner of Income Tax Vs. M/s VRM Global Infrastructure Pvt. Ltd. (Appeal Under Section 260A of the Income Tax Act, 1961 Regarding Deletion of Unexplained Cash Credits Under Section 68 and Allowance of Statutory Depreciation on Plant and Machinery Under Section 32)
FACTS OF THE CASEThe present revenue appeal was filed by the Commissioner of
Income Tax under Section 260A of the Income Tax Act, 1961. It challenged the
consolidated order dated September 1, 2009, passed by the Income...
Kyungshin Industrial Motherson Ltd. v. Commissioner of Income Tax: Deduction of Running Royalty under Section 37(1) of the Income Tax Act
Facts of the Case
Assessee
Business Profile: The Appellant-Assessee, M/s Kyungshin
Industrial Motherson Ltd., is a 50:50 joint venture between Motherson Sumi
System Limited and Kyungshin Industrial Co...
The Commissioner of Income Tax vs. Sh. Anil Minda: Deciding the Statutory Commencement Date for Block Assessment Period of Limitation Under Section 158BE vs Section 132(1) execution Based on Chronological Drawing of the Final Panchnama in Income Tax Search Operations
FACTS OF THE CASE
Corporate
Identity and Search Target: The primary respondents,
including Sh. Anil Minda, Sh. J.P. Minda, Sh. Vandana Minda, and Ms.
Gayatri Minda, belonged to the prominent Minda Gro...
The Commissioner of Income Tax Vs. Sh. Anil Minda, Sh. Vandana Minda, Sh. J.P. Minda, and Ms. Gayatri Minda: Whether the Two-Year Statutory Limitation Period for Completion of Block Assessment Under Section 158BE(1)(b) Read with Explanation 2 of the Income Tax Act, 1961, Commences from the Execution and Conclusion of the Chronologically Last Authorization for Search or Continues Up to the Drawing of the Final Panchnama of a Previous, Prolonged Authorization
Facts of the Case
Context: The
respondents are part of the Minda Group of business, specializing in
manufacturing automobile components. A multi-premise search operation
under Chapter XIV-B of the Act...
Escorts Tractors Ltd. vs Commissioner of Income Tax (Delhi High Court) – Eligibility of Interest under Section 214 on Additional Advance Tax Paid with Commissioner’s Permission | Assessment Year 1980-81
Facts of the Case
The assessee, Escorts Tractors Ltd., was a public limited company.
For Assessment Year 1980-81, its accounting period ended on 31
December 1979.
The assessee paid advance tax in three instal...
The Commissioner of Income Tax vs. Sh. J.P. Minda (With Connected Appeals: Sh. Anil Minda, Sh. Vandana Minda, and Ms. Gayatri Minda) – Computation of Period of Limitation for Block Assessment Under Section 158BE Read with Section 132(1) of the Income Tax Act, 1961: Determining Whether the Date of the Last Executed Search Authorization or the Date of the Last Concluding Panchnama Governing Prior Authorizations Dictates the Statutory Period of Limitation.
FACTS OF THE CASE
The
Assessees Profile: The respective assessees are part of the prominent
Minda Group of Business, which primarily operates in the commercial
manufacturing sector of diverse automobi...
The Commissioner of Income Tax vs Ms. Gayatri Minda (with Sh. Anil Minda, Sh. J.P. Minda & Smt. Vandana Minda): Deciding the Limitation Period for Block Assessments Under Section 158BE of the Income Tax Act, 1991 Based on the Last Executed Search Authorization Warrant vs the Date of the Final Panchnama
Facts of the CaseThe controversy originated from a series of investigative
searches conducted by the Income Tax Department on the assessees, who belong to
the Minda Group of business, a conglomerate involved in manufac...
The Commissioner of Income Tax vs. Sh. J.P. Minda (With Sh. Anil Minda, Sh. Vandana Minda & Ms. Gayatri Minda): Computation of Limitation Period for Block Assessment Under Section 158BE read with Section 132(1) and Explanation 2 of the Income Tax Act, 1961—Whether the Date of Last Authorization Executed via Final Panchnama Overrides the Date of Issuance of Subsequent Warrants for Reckoning the Two-Year Statutory Limitation Period in Search and Seizure Actions.
Facts of the Case
The
Background Context: The case involved several assessees
belonging to the Minda Group of business, which was primarily engaged in
the manufacturing of various automobile component...
Commissioner of Income Tax v. Front Line Securities Limited (2010) – Applicability of Explanation to Section 73 Where Principal Business is Money Lending | Delhi High Court
Facts of the Case
The assessee filed its return for Assessment Year 1997-98 and
claimed a loss of ₹98,03,600 arising from purchase and sale of shares.
The Assessing Officer (AO) held that the loss was specul...