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The Commissioner of Income Tax-XIII vs. Sh. Qimat Rai Garg (ITA No. 759/2010, 2010:DHC:11695-DB) Validity of Chapter XIV-B Block Assessments: Whether Undisclosed Income Can Be Computed Based on Post-Search Bank Enquiries Traced to an Assessee's Statement on Oath Under Section 132(4) in Light of the Finance Act, 2002 Retrospective Amendments.
Facts of the Case
The
respondent-assessee is a Chartered Accountant and a director in multiple
finance and hire-purchase companies.
Following
a search operation conducted on a third-party corporate...
Commissioner of Income Tax vs. M/s Xansa India Ltd. — Deletion of Rs. 2.26 Crore Addition Affirmed as Foreign Exchange Reimbursements Were Duly Supported by Agreements, Debit Notes, and FIRCs Submitted During Assessment Under Section 260A of the Income Tax Act, 1961
Facts of the Case
The
Assessing Officer (AO) made an addition of Rs. 2.26 crores to the
assessee's income.
This
addition was made by disallowing the sum claimed by the assessee as
earnings in ...
M/s Great Eastern Exports v. Commissioner of Income Tax & Connected Appeals – Deduction under Sections 80HHC and 80IA/80IB Cannot Be Claimed on the Same Profits Twice | Delhi High Court
Facts of the
CaseSeveral appeals involving different assessees and
the Revenue were heard together as they raised a common legal issue concerning
deductions under Chapter VI-A of the Income-tax Act.The assessees had c...
Commissioner of Income Tax vs. M/s Stellar Construction (P) Ltd. — Deletion of Section 68 Addition on Account of Share Application Money Where Identity and Capacity of Investors Stand Established and Confirmed via Prior Precedents
Facts of the Case
The
Assessing Officer (AO) made additions to the total income of the assessee
under Section 68 of the Income Tax Act.
The
addition was made on the grounds that the assessee failed...
Achin Agarwal, Pradeep Agarwal, and Geeta Agarwal vs. Commissioner of Income Tax & Anr. — Writ Jurisdiction Challenge Under Article 226 Against Section 127 Transfer of Assessment Files from Delhi to Rajasthan and Admissibility of Mutual Extension of Time for Completion of Income Tax Assessments Pursuant to High Court Directives
Facts of the CaseThe individual Petitioners (Achin Agarwal, Pradeep Agarwal,
and Geeta Agarwal) approached the Hon’ble High Court of Delhi by filing three
separate civil writ petitions under Article 226 of the Consti...
Commissioner of Income Tax v. M/s John Tinson & Co. (P) Ltd. | Delhi High Court | Section 275(1)(a) & 271(1)(c) of the Income Tax Act – Limitation for Penalty Proceedings After Fresh Assessment Order
Facts of the CaseThe assessee, M/s John Tinson & Co. (P) Ltd.,
filed its return for Assessment Year 1993-94 declaring a loss. The Assessing
Officer (AO), however, completed assessment under Section 143(3) and asses...
Pradeep Agarwal vs. Commissioner of Income Tax & AnR (With Achin Agarwal vs. CIT and Geeta Agarwal vs. CIT) | Scope of Section 127 Transfer and Specific Court-Ordered Extension for Completion of Assessment Under the Income Tax Act, 1961
Facts of the CaseThe petitioners (Achin Agarwal, Pradeep Agarwal, and Geeta
Agarwal) filed three separate writ petitions before the High Court of Delhi.
The initial grievance and prayer in these petitions sought a writ...
M/s Vodafone Essar Mobile Services Ltd. Vs. Commissioner of Income Tax TDS & Ors. | High Court Direction to Decide Income Tax Refund Application and Allow Credit Adjustment Against Outstanding TDS Demand Notice
Facts of the CaseThe assessee-petitioner, M/s Vodafone Essar Mobile Services
Ltd., filed two writ petitions challenging the legal justifiability of an order
dated December 3, 2010, passed by the Commissioner of Income ...
Commissioner of Income Tax vs. A.T. Invofin India (P) Ltd. & Connected Assessees | Section 158BB(1)(c), 158BC, 158BD & 139(4) of the Income-tax Act, 1961 – Belated Return Filed After Search Cannot Defeat Block Assessment of Undisclosed Income
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
of Companies, to which the respondent companies belonged.Althoug...
Commissioner of Income Tax Vs. M/s. Honda Trading Corporation India Pvt. Ltd. (ITA Nos. 1935, 1937 & 1938/2010) | Debatable Claim on Technical Know-How Fees Treated as Capital Expenditure Does Not Attract Penalty Under Section 271(1)(c) of Income Tax Act
Facts of the Case
The
respondent-assessee incurred certain expenses towards technical know-how
fees and claimed the entire amount as allowable revenue expenditure during
the assessment proceedings.
...