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Comprehensive Case Analysis: Commissioner of Income Tax vs. M/s. Usha Stud & Agricultural Farms Pvt. Ltd. (With ITA No. 106/2003 - CIT vs. Ameeta Mehra) on Stock Valuation of Livestock under Section 145 and Factual Determinations in Assessment
Facts of the Case
The
respondent-assessee (M/s. Usha Stud & Agricultural Farms Pvt. Ltd.)
is a private limited company engaged in the business of breeding and
maintaining horses, alongside underta...
Commissioner of Income Tax v. M/s C.G. Schlumberger Electricity – Penalty under Section 271(1)(c) on Assessed Losses and Applicability of Explanation 4 to Section 271(1)(c) | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order of the Income Tax Appellate Tribunal (ITAT), which
had deleted the penalty imposed under Section 271(1)(c) of the Income-ta...
M/s GKN Driveline India Ltd. vs Commissioner of Income Tax, Delhi – Assessment Year 1995-96 | Delhi High Court Dismisses Revenue Appeal Following Earlier Decision
Facts of the
CaseM/s GKN Driveline India Ltd. filed the present
appeal before the Delhi High Court concerning the Assessment Year 1995-96. The
matter came up for consideration before the Division Bench of the High Cou...
Commissioner of Income Tax vs. M/s. Usha Stud & Agricultural Farms Pvt. Ltd. (2005): Valuation of Livestock Stock-in-Trade and Admissibility of Consistency in Method of Accounting under the Income Tax Act
Facts of the Case
The
respondent-assessee is a private limited company engaged in the business
of breeding and maintaining horses, alongside running concurrent
agricultural activities to produce feed ...
M/s GKN Driveline India Ltd. vs Commissioner of Income Tax, Delhi – Assessment Year 1995-96 | Appeal Dismissed Following Earlier Decision
Facts of the
CaseM/s GKN Driveline India Ltd. filed an appeal before
the Delhi High Court challenging the order passed in relation to the Assessment
Year 1995-96. The matter came up for hearing before the Division Ben...
Commissioner of Income Tax, Delhi vs. M/s Lunar Diamonds Ltd.: High Court of Delhi | ITA No. 62 of 2005 | 2005:DHC:9806-DB | Mandatory Service of Notice Within Limitation Period Under Section 143(2) of the Income Tax Act, 1961
Facts of the Case
The
Respondent/assessee filed its return of income for the Assessment Year
(AY) 1995-96 on November 29, 1995.
The
Assessing Officer (AO) dispatched a notice under Section 143(2) o...
Commissioner of Income Tax vs. M/s Esteem Towers Pvt. Ltd. (Delhi High Court) – Addition of Share Capital Deleted as Shareholder Companies Found Genuine and Assessed to Tax | Section 68 of the Income-tax Act, 1961
Facts of the
CaseThe assessee-company, M/s Esteem Towers Pvt. Ltd.,
had received amounts towards its share capital from certain companies. The
Assessing Officer treated the share capital received as unexplained and ad...
Commissioner of Income Tax vs. M/s. Usha Stud & Agricultural Farms Pvt. Ltd.: Delhi High Court Upholds Rule of Consistency Under Section 145 and Rejects Revenue's Arbitrary Interference in Livestock Inventory Stock Valuation Methods Absent Substantial Question of Law
Facts of the
Case
Assessee’s Business Profile: The respondent-assessee, M/s. Usha
Stud & Agricultural Farms Pvt. Ltd., is a private limited company
engaged in the business of breeding and maintaining...
Director of Income Tax vs Eternal Science of Men's Society (Delhi High Court) – Reference Returned Unanswered Due to Failure of Revenue to File Paper Books | ITR 68/1991
Facts of the
CaseThe income-tax reference was received by the Delhi
High Court in the year 1991. Despite the passage of nearly fourteen years, the
Revenue did not take the necessary steps to furnish the paper bo...
M/s Cincom Systems India Pvt. Ltd. vs Commissioner of Income Tax & Others (Delhi High Court) – Revision Petition under Section 264 of the Income-tax Act, 1961 | Stay of Recovery During Pendency of Revision Proceedings
Facts of the CaseM/s Cincom Systems India Pvt. Ltd. was aggrieved by
an order passed by the Additional Commissioner of Income Tax and filed a
revision petition before the Commissioner of Income Tax under Section ...