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M/s Parivar Seva Sanstha v. Director of Income Tax (Exemption) – Whether Salary Paid to a Specified Person Can Lead to Denial of Exemption under Sections 11 and 13 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee, M/s Parivar Seva Sanstha, is a
society registered under the Societies Registration Act, 1860 and engaged in
charitable activities relating to family planning, maternal health, and ...
M/s Parivar Seva Sanstha vs Director of Income Tax (Exemption) – Reasonableness of Salary Paid to Specified Persons and Denial of Exemption under Sections 11 & 13 of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe assessee, M/s Parivar Seva Sanstha, is a
society registered under the Societies Registration Act, 1860 and engaged in
charitable activities relating to family planning, maternal healthcare, and
ch...
M/s Parivar Seva Sanstha vs Director of Income Tax (Exemption) | Delhi High Court | Section 11 & Section 13(1)(c) Read with Section 13(3) of the Income-tax Act, 1961 | Reasonableness of Salary Paid to Specified Persons by Charitable Trust
Facts of the
CaseThe assessee, Parivar Seva Sanstha, was a
society registered under the Societies Registration Act, 1860 and engaged in
charitable activities relating to family planning, maternal health, and child
he...
Commissioner of Income Tax vs A.T. Invofin India (P) Ltd. & Connected Matters | Delhi High Court | Section 158BB of the Income-tax Act, 1961 | Undisclosed Income in Block Assessment after Search
Facts of the CaseA search and seizure operation under the Income-tax
Act was conducted on 13 January 2000 in the Shyam Telecom Group of Companies,
to which the respondent-assessees belonged. Although there was no speci...
Commissioner of Income Tax vs. M/s Great Eastern Exports — Dismissal of Revenue's Appeals on Identical Questions of Law Covered by Prior Precedent Under Section 260A of the Income Tax Act
Facts of the CaseThe Revenue preferred statutory appeals (registered as ITA No.
1048/2010 and ITA No. 1050/2010) before the Hon’ble High Court of Delhi. The
disputes arose from the appellate orders of the Income Tax ...
Commissioner of Income Tax v. Vasisth Chay Vyapar Ltd. (Delhi High Court) – Taxability of Interest on Non-Performing Assets (NPA) of NBFCs under the Income-tax Act and RBI Prudential Norms
Facts of the Case
The assessee, M/s Vasisth Chay Vyapar Ltd., was a Non-Banking
Financial Company (NBFC).
It had advanced Inter-Corporate Deposits (ICDs) to M/s Shaw Wallace
Company.
Interest on the ICD...
CommissionerCommissioner of Income Tax v. Vasisth Chay Vyapar Ltd. – Taxability of Interest on Non-Performing Assets (NPA) of NBFCs under the Income-tax Act and RBI Prudential Norms | Delhi High Court
Facts of the Case
The assessee, an NBFC, had advanced Inter Corporate Deposits to
Shaw Wallace & Company.
Interest on the deposits remained unpaid for a prolonged period
exceeding six months.
Under ...
Commissioner of Income Tax vs. M/S Taj International Jewellers | Allowability of Interest Netting Under Section 57(iii) of Income Tax Act for FDRs Created via Bank Loans Utilizing EXIM Policy and LIBOR Disparity
Facts of the Case
The
Assessee (M/S Taj International Jewellers) was engaged in the business of
exporting jewellery.
During
the assessment years 2005-06 and 2006-07, the assessee borrowed ₹35.34
...
Commissioner of Income Tax vs A.T. Invofin India (P) Ltd. & Connected Matters | Delhi High Court | Sections 158BB, 158BC, 139 & Chapter XIV-B of the Income-tax Act
Facts of the
Case
A search and seizure operation under the Income-tax Act was
conducted on 13 January 2000 on a group of companies.
The due date for filing the return for Assessment Year 1999-2000
had ex...
M/s Parivar Seva Sanstha vs Director of Income Tax (Exemption) – Delhi High Court Remands Matter on Reasonableness of Salary Paid to Specified Person under Sections 11, 12 & 13 of the Income-tax Act, 1961
Facts of the Case
The assessee, M/s Parivar Seva Sanstha, is a charitable society
engaged in family planning and maternal and child healthcare activities.
The society was duly registered under Section 12A of th...