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Ritu Investments Pvt. Ltd. vs Deputy Commissioner of Income Tax (Delhi High Court) – Reassessment Notice under Sections 147/148 Invalid on Mere Change of Opinion
Facts of the
CaseRitu Investments Private Limited, engaged in
investment activities, trading in securities, and real estate investments,
filed its return of income for Assessment Year 2005-06 declaring income of
₹1...
Commissioner of Income Tax vs. Samtel Color Limited [Delhi High Court] – Section 68 Addition on Public Deposits Deleted as Assessee Successfully Proved Identity and Initial Onus
Facts of the CaseThe assessee, Samtel Color Limited, a public limited
company, filed its return for Assessment Year 1997-98. During assessment
proceedings, the Assessing Officer noticed that the company had received pu...
Ritu Investments Private Limited vs Deputy Commissioner of Income Tax (Delhi High Court) – Reassessment Notice Under Sections 147 & 148 Cannot Be Issued Merely on Change of Opinion | AY 2005-06
Facts of the CaseRitu Investments Private Limited, a company engaged
in investment activities, trading in securities and real estate investments,
filed its return of income for Assessment Year 2005-06 declaring income ...
Commissioner of Income Tax vs. Samtel Color Limited (2011) – Section 68 Income Tax Act | Public Deposits, Unexplained Cash Credits & Assessee's Initial Onus Discharged
Facts of the CaseSamtel Color Limited, a public limited company, received
public deposits amounting to approximately ₹2.61 crores during Assessment Year
1997-98. During assessment proceedings, the Assessing Officer q...
Commissioner of Income Tax vs. Sunil Bhala & M/s RajGul Credit Investment Pvt. Ltd. (2010) 2010:DHC:5665-DB | Section 158BD Income Tax Act – Mandatory Satisfaction Note and Transfer of Seized Material
Facts of the CaseA search and seizure operation under Section 132
was conducted on 14 December 1999 in the cases of Mr. S.K. Jain and M/s
GCB Capital Finance Pvt. Ltd.During the search, certain documents and papers
we...
Commissioner of Income Tax vs. Mehrotra Invofin India (P) Ltd. & Ors. – Whether Capital Gain Disclosed After Due Date but Before Search Can Be Treated as Undisclosed Income under Chapter XIV-B of the Income Tax Act, 1961
Facts of the CaseA search and seizure operation under Section 132 of
the Income Tax Act was conducted on 13 January 2000 in the Shyam Telecom Group,
to which the respondent companies belonged. Though no specific search...
Commissioner of Income Tax vs Assessee – Rectification under Section 154 for Deduction Computation under Sections 80HHC and 80IB | Delhi High Court
Facts of the CaseThe Assessing Officer originally allowed deductions claimed by
the assessee under both Section 80HHC and Section 80IB of the
Income Tax Act.Subsequently, the Assessing Officer invoked Section 154
and ...
Commissioner of Income Tax vs. M/s Vasisth Chay Vyapar Ltd. | Delhi High Court | Section 145 & Section 45Q RBI Act | Taxability of Interest on Non-Performing Assets (NPAs)
Facts of the
Case
The assessee, M/s Vasisth Chay Vyapar Ltd., was a Non-Banking
Financial Company (NBFC).
The assessee had advanced Inter-Corporate Deposits (ICDs) to Shaw
Wallace & Company.
Intere...
Mohit Singh v. Assistant Commissioner of Income Tax & Another | Interest on Delayed Refund of Seized Cash under Sections 132 & 132B of the Income Tax Act, 1961 | Delhi High Court
Facts of the Case
A
search and seizure operation was conducted at the residential premises of
the petitioner under Section 132 of the Income Tax Act, 1961.
During
the search, cash amounting to...
Parivar Seva Sanstha vs Director of Income Tax (Exemption) | Delhi High Court | Section 11 & Section 13(1)(c) of the Income Tax Act, 1961 | Reasonableness of Salary Paid to Specified Persons by Charitable Institutions
Facts of the Case
The assessee, Parivar Seva Sanstha, is a society registered under
the Societies Registration Act, 1860.
The society was registered under Section 12A of the Income Tax Act
and was e...