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Commissioner of Income Tax vs. Xerox Modicorp Limited | Validity of Reassessment Under Section 147 and Eligibility of Investment Allowance Under Section 32A of the Income Tax Act for Office Telecommunication and Photocopying Equipment Manufacturing Units
FACTS OF THE CASE
Nature
of Business: The Respondent-Assessee, M/s. Xerox Modicorp
Limited, is an industrial enterprise engaged in the manufacturing and
distribution of xerographic (photocopying) mach...
Commissioner of Income Tax vs. M/s Nalwa Sons Investments Ltd. [Delhi High Court] – Penalty under Section 271(1)(c) Not Leviable Where Tax is Assessed Under Section 115JB (MAT)
Facts of the
CaseThe assessee, M/s Nalwa Sons Investments Ltd.,
filed its return for Assessment Year 2001-02 declaring a loss. Subsequently, a
revised return was filed showing income under Section 115JB.The Assessing ...
Commissioner of Income Tax vs. M/s Xerox Modicorp Limited: Whether Reopening of Assessment Under Section 147 and Withdrawal of Investment Allowance Under Section 32A is Valid for Manufacturing Office Apparatus Falling Under Eleventh Schedule of the Income Tax Act
FACTS OF THE CASE
Nature
of Business: The corporate assessee, M/s Xerox Modicorp
Limited, was engaged in the industrial operations of manufacturing and
selling xerographic machines, toners, developers...
ITA No. 492/2010 – Appellant vs Respondent | Delhi High Court | Appeal Dismissed as Withdrawn in View of Connected Matter (ITA No. 947/2009)
Facts of the
CaseThe appellant had filed an appeal before the Delhi
High Court under the Income Tax Act. During the hearing, counsel appearing for
the appellant submitted that in view of the orders passed on the same ...
Lachman Dass Bhatia v. Assistant Commissioner of Income Tax | Delhi High Court Permits Withdrawal of Income Tax Appeals to Pursue Writ Petitions | ITA Nos. 724-729 of 2010
Facts of the
Case
The appellant filed Income Tax Appeals bearing ITA Nos. 724 to 729
of 2010 before the Delhi High Court.
The appeals were directed against proceedings involving the
Assistant Commissione...
Shri Ashok Lalwani vs Income Tax Officer (Delhi High Court) – Addition Based on Third-Party Statement Without Providing Copy or Cross-Examination Opportunity Held Invalid | Principles of Natural Justice
Facts of the
CaseThe assessee, Shri Ashok Lalwani, filed his return
of income for Assessment Year 1998-99 declaring income of ₹2,44,030. He was
engaged in the business of dealing in real estate, including purchasing...
Commissioner of Income Tax-V vs. Proagro Seed Company (P) Ltd. – Appeal Maintainability Against Levy of Interest under Sections 234A, 234B & 234C of the Income-tax Act, 1961
Facts of the CaseThe assessee, Proagro Seed Company (P) Ltd.,
contended that income derived from the production of hybrid seeds constituted
agricultural income and, therefore, was not liable to income tax. On this
bas...
Assessee v. Income Tax Department – Whether Appeal under Section 260A is Maintainable Against ITAT Order Passed under Section 254(2) of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The Revenue filed an application before the Income Tax Appellate
Tribunal under Section 254(2) of the Income-tax Act, 1961 seeking
rectification of an order.
The Tribunal allowed the Re...
Commissioner of Income Tax vs. M/s. Epicurean Hospitality Services | Section 68 Income Tax Act – Share Application Money Cannot Be Treated as Undisclosed Income When Identity of Shareholders Is Established
Facts of the
Case
The assessee company had received share application money from
various applicants.
The Assessing Officer treated an amount of ₹7,14,000 as unexplained
cash credit under Section 68 of ...
Commissioner of Income Tax vs Flawless Holding & Industries Ltd. | Delhi High Court Upholds Deletion of Addition Towards Alleged Undisclosed Income Due to Lack of Evidence and Denial of Cross-Examination | Section 260A Income Tax Act
Facts of the Case
The Assessing Officer made an addition of ₹21,81,983/- treating the
amount as income from undisclosed sources.
The addition was challenged by the assessee before the Commissioner
of In...