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Commissioner of Income Tax v. M/S Saxons Farms & Others: Penalty Under Section 271(1)(c) Applicable Even When Assessed Income Is A Loss
Facts of the CaseThis
batch of appeals concerns various assessees who filed income tax returns
declaring a loss. During assessment proceedings, the Assessing Officer (AO)
determined that the assessees had concealed pa...
Commissioner of Income Tax vs. Mrs. Kumkum Kohli: Taxability of Disclosed Income Under Block Assessment (Chapter XIV-B)
Case FactsA search and seizure operation under Section 132 of the
Income-tax Act, 1961, was conducted at the residential premises of the
assessee, Mrs. Kumkum Kohli, on September 15, 1995. Subsequently, the Assessing
...
Commissioner of Income Tax v. M/S Bharat Hotels Ltd. & Others: Penalty for Concealment in Loss Scenarios | Section 271
Facts of the CaseThe
Revenue challenged orders passed by the Income Tax Appellate Tribunal (ITAT),
which had deleted penalty proceedings initiated under Section 271(1)(c). In
these cases, the assessees had filed retur...
M/s Hind Pocket Books Pvt. Ltd. v. Commissioner of Income Tax – Maintainability of Writ Petition When Statutory Appellate Remedy and Stay Application Are Pending | Delhi High Court
Facts of the
CaseThe petitioner, M/s Hind Pocket Books Pvt. Ltd.,
approached the Delhi High Court under Article 226 of the Constitution
challenging actions taken by the Income Tax Department concerning recovery
proce...
Commissioner of Income Tax vs M/s Usha Stud & Agricultural Farms Pvt. Ltd. – Valuation of Foals, Depreciation on Horses and Agricultural Income Accounting | Sections 145 & 260A of the Income-tax Act
Facts of the CaseThe respondent-assessee, M/s Usha Stud &
Agricultural Farms Pvt. Ltd., was engaged in the business of breeding,
maintenance, and sale of horses along with agricultural activities. The
agricultural...
Commissioner of Income Tax (Central) vs Late Shri Yashan Kumar Through Legal Representatives – Principle of Consistency in Income Tax Proceedings | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order relating to the assessee, Late Shri Yashan Kumar
(through his legal representatives). During the hearing, counsel appearing...
Commissioner of Income Tax, Delhi-I vs M/s Sapna Tour and Travels & Leasing (ITA No. 503/2004) – Penalty under Section 271(1)(c) Leviable Even Where Assessed Income Remains a Loss
Facts of the CaseThe Revenue
filed a batch of appeals before the Delhi High Court challenging orders of the
Income Tax Appellate Tribunal (ITAT), including ITA No. 503/2004 concerning M/s
Sapna Tour and Travels & ...
Commissioner of Income Tax vs. M/s Usha Stud & Agricultural Farms Pvt. Ltd. (Delhi High Court) – Valuation of Foals, Depreciation on Horses, Method of Accounting and Question of Law under the Income-tax Act
Facts of the CaseThe respondent-assessee, M/s Usha Stud &
Agricultural Farms Pvt. Ltd., was engaged in the business of breeding,
maintaining and dealing with horses. The company also carried on agricultural
activi...
Commissioner of Income Tax, Delhi-VIII v. Lalit Bhasin – Whether Addition under Section 69B Can Be Sustained Without Evidence of Understatement of Investment
Facts of the
CaseThe assessee, Shri Lalit Bhasin, filed his
return of income for Assessment Year 1991-92 declaring income of ₹4,06,810.
During scrutiny proceedings under Section 143(2), the Assessing Officer n...
Commissioner of Income Tax v. Sudish Kumar – Assessing Officer’s Power to Refer Cost of Construction to Valuation Officer and Applicability of Section 142A of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee, Sudish Kumar, filed his return of
income for Assessment Year 1996-97 declaring total income of Rs. 59,210. The
return was initially processed under Section 143(1)(a) of the Income-tax Ac...