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M/s J.K. Synthetics Ltd. vs Commissioner of Income Tax (Delhi High Court) – Deductibility of Guest House Expenses, Abandoned Project Expenditure, Foreign Travel Expenses, Retainership Fees and Interest Liability under the Income-tax Act, 1961
Facts of the Case
The assessee, M/s J.K. Synthetics Ltd., claimed various deductions
and allowances while computing its taxable income for Assessment Year
1984-85.
The Income Tax Appellate Tribunal (ITAT)...
Dy. Commissioner of Income Tax vs M/s. Insilco Ltd. – Deduction of Bad Debts under Sections 36(1)(vii) & 36(2) of the Income Tax Act, 1961
Facts of the CaseThe appeal was filed by the Revenue under Section 260A
of the Income Tax Act, 1961, against the Tribunal’s order regarding the assessment
year 2004-05. The assessee, M/s. Insilco Ltd., claimed bad de...
Halcrow Consulting India Pvt Ltd vs Commissioner of Income Tax-IV & Ors | Refund Application Delay – Delhi High Court
Facts of the CaseThe petitioner, Halcrow Consulting India Pvt Ltd, filed
applications for a refund from the Income Tax authorities. Despite submitting
their representation, the petitioner’s requests had not been addr...
Commissioner of Income Tax v. M/s J.K. Synthetics Ltd. | Delhi High Court | Revenue vs Assessee on Revenue vs Capital Expenditure, Interest on Borrowed Funds for Share Investments, Cops Deposit Write-Back & Business Expenditure under Sections 36(1)(iii) and 37 of the Income-tax Ac
Facs of the Case
The assessee, M/s J.K. Synthetics Ltd., was engaged in the business
of manufacturing and dealing in yarn.
During Assessment Year 1984-85, the assessee claimed deductions
relating to:
...
Commissioner of Income Tax vs. ECE Industries Limited: Whether Section 50 Special Provisions Apply to the Slump Sale of an Entire Business Division as a Going Concern or if it Constitutes Long-Term Capital Gain Under Sections 45 and 48 of the Income Tax Act
Facts of the Case
The
respondent-assessee, ECE Industries Limited, filed its income tax return
declaring a loss.
During
the assessment proceedings for Assessment Year 1999-2000, the Assessing...
Commissioner of Income Tax vs National Agricultural Co-operative Marketing Federation of India Ltd: Delhi HC on Disallowance of PSS Indirect Expenses & Section 80P(2)(d) Deduction
Facts of the CaseThe appeals arise under Section 260A of the Income Tax Act,
1961 challenging orders of the Income Tax Appellate Tribunal (ITAT)
regarding:
Deletion
of additions made by the Assessing Officer (A...
M/s J.K. Synthetics Ltd. vs Commissioner of Income Tax (Delhi High Court) – Interest on Debentures, Revenue vs Capital Expenditure, Higher Depreciation and Business Set-Up Date
Facts of the
CaseThe dispute pertained to
Assessment Year 1983-84. The Revenue sought adjudication of six questions of
law arising from the order of the Income Tax Appellate Tribunal (ITAT).The issues included:1. ...
M/S Lotus Trans Travels P. Ltd. Vs. Commissioner of Income Tax: Whether Interest Earned on Fixed Deposits of Foreign Exchange Advances Eligible for Deduction Under Section 80HHD of Income Tax Act, 1961
Facts of the Case
Assessee
Status: The appellant, M/S Lotus Trans Travels P.
Ltd., is a private limited company operating as an approved tour operator
under the Department of Tourism (the prescribed a...
Commissioner of Income Tax vs Ashok Kumar Arora – Delhi High Court (ITA No. 713 of 2010) I Section 132 – Search and seizure under Income Tax Act, 1961
Facts of the Case:The appeal concerns the deletion of certain additions made by
the Assessing Officer (AO) in the taxpayer's assessment. The AO had relied on
unproduced books of account and documents recovered during s...
M/s Lachman Dass Bhatia Hingwala (P) Ltd. vs. Assistant Commissioner of Income Tax: Landmark Ruling on the Statutory Power of the ITAT to Recall its Own Final Order in Entirety to Rectify Manifest Errors Under Section 254(2) of the Income Tax Act, 1961
Facts of the CaseThe petitioner filed a batch of writ petitions under
Articles 226 and 227 of the Constitution of India before the High Court of
Delhi. The challenge was directed against an order dated January 22, 2010...