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Commissioner of Income Tax vs. M/s Shri Shyam Sales: Determination of the Legal Threshold for Substantial Question of Law under Section 260A of the Income Tax Act, 1961, and the Binding Principle of Precedents with Reference to the Azadi Bachao Andolan, Woodward Governors, and Itochu Corporation Judgments
Facts of the Case
The
Appellant, represented by the Revenue/Income Tax Department, moved the
Hon’ble High Court of Delhi by filing a batch of statutory tax appeals,
collectively registered under ITA...
C.I.T. vs. M/s Indo Kopp Ltd.: Delhi High Court Holds Interest Paid to Trade Creditors Cannot Be Disallowed Under Section 37(1) Due to Non-Recovery of Interest from Trade Debtors
Facts of the CaseThe respondent-assessee, M/s Indo Kopp Ltd., filed its income
tax return claiming a business deduction of ₹16,23,432/-. This sum represented
the actual interest amount paid by the company to its trad...
Commissioner of Income Tax vs. M/s Ilac Investment Pvt. Ltd. | Section 68 Income Tax Act: Unexplained Cash Credits & Share Application Money
Facts of the Case
For
the assessment year 1989-90, the respondent-assessee disclosed a sum of
₹4,75,000/- received as share application money within its income tax
return.
The
Assessing Off...
C.I.T. vs. M/S Sony India (P) Ltd.: Allowability of Warranty Provision as Deduction Under Section 37(1) of Income Tax Act
Facts of the Case
Assessee's
Business Operations: The assessee, M/S Sony India (P) Ltd.,
is a prominent corporate entity engaged in the widespread manufacture,
marketing, and sale of televisions (TVs)...
Commissioner of Income Tax vs. M/s Delta Foods Pvt. Ltd.: Revenue vs. Capital Expenditure on Factory Repairs under Section 37(1)
Facts of the Case
The
Assessment Context: The dispute arose during the
assessment proceedings for the assessment year 1997-98. The
respondent-assessee, M/s Delta Foods Pvt. Ltd., filed its regular ret...
Commissioner of Income Tax vs. M/S Tools India P. Ltd. | Penalty u/s 271(1)(c) on Loss Assessments & Precedent of Aditya Chemicals
Facts of the Case
The
ITAT Ruling: The dispute originated when the Income Tax
Appellate Tribunal (ITAT) passed an order in favor of the
respondent-assessee, M/S Tools India P. Ltd., effectively deleti...
Commissioner of Income Tax vs Bharat Gears Ltd. – Whether Excise Duty is to be Excluded from Total Turnover for Deduction under Section 80HHC of the Income-tax Act, 1961
Facts of the CaseThe appeal was filed by the Revenue before the Delhi High
Court against the order of the Income Tax Appellate Tribunal (ITAT). The
dispute concerned the computation of deduction under Section 80HHC of ...
Commissioner of Income Tax vs. M/S Tools India P. Ltd. | Penalty u/s 271(1)(c) on Loss Assessments & Precedent of Aditya Chemicals
Facts of the Case
The
ITAT Ruling: The dispute originated when the Income Tax
Appellate Tribunal (ITAT) passed an order in favor of the
respondent-assessee, M/S Tools India P. Ltd., effectively deleti...
Commissioner of Income Tax Vs. M/s. Mittal Corporation: Whether Commission Earned by Buying Agents from Foreign Enterprises via Commercial Knowledge and Experience is Eligible for Tax Deduction Under Section 80-O of the Income Tax Act, 1961, Independent of Rendering Technical Services
FACTS OF THE CASE
The
Respondent-Assessee (M/s. Mittal Corporation) is a registered partnership
firm resident in India acting as buying agents for foreign business
enterprises, namely M/s. G.J. Coles ...
Commissioner of Income Tax vs. M/s. Mittal Corporation: Interpretation of Section 80-O of the Income Tax Act, 1961 Regarding Deductions on Commission Earned from Foreign Enterprises for Providing Commercial Knowledge, Experience, and Skill
Facts of the Case
The
respondent-assessee, M/s. Mittal Corporation, is a registered partnership
firm and a resident in India.
The
assessee acted as a buying agent for foreign enterprises, specifica...