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Pr. Commissioner of Income Tax vs B.C. Management Services Pvt. Ltd. | Delhi High Court on Transfer Pricing Adjustment, Comparable Selection, Foreign Exchange Gain & Notional Interest under Section 92C and Section 143(3) of the Income Tax Act
Facts of the
CaseThe assessee, B.C. Management Services Pvt. Ltd.,
was incorporated on 12.05.2010 and was engaged in providing IT-enabled services
including application and infrastructure development, testing, system
...
Pr. Commissioner of Income Tax (Central)-2 vs M/s Ravnet Solutions Pvt. Ltd. | Delhi High Court on Mandatory Notice under Section 143(2) of Income Tax Act and Validity of Assessment Proceedings
Facts of the
CaseThe assessee filed its income tax return on
30.03.2007 declaring income of Rs. 36,609/-. The return was initially processed
under Section 143(1) of the Income Tax Act. Thereafter, the case was selecte...
Commissioner of Income Tax vs M/s International Tractor Ltd. | Section 80-IA Deduction Eligibility for Small Scale Industrial Undertaking & Validity of ITAT Order | Delhi High Court
Facts of the
CaseThe assessee, M/s International Tractor Ltd.,
claimed deduction under Section 80-IA as a Small Scale Industrial Undertaking.
The Revenue challenged the allowability of the deduction on the ground that...
Pr. Commissioner of Income Tax-6 vs Maruti Udyog Ltd. | Delhi High Court on Allowability of Customs Duty Addition and Taxability of Sales Tax Subsidy as Capital Receipt under the Income Tax Act
Facts of the
CaseThe assessee, Maruti Udyog Ltd., for Assessment
Year 2006–07, claimed deductions and accounting treatment relating to customs
duty paid on imported components meant for export purposes and customs d...
Commissioner of Income Tax, Delhi vs Maruti Udyog Ltd. | Delhi High Court on Duty Drawback Accrual, MODVAT Credit Adjustment, Section 43B, Section 80HHC & Section 80-IB Deduction
Facts of the
CaseMaruti Udyog Ltd. claimed certain deductions and
accounting treatments in its return for AY 2004–05. During assessment, the
Assessing Officer raised objections regarding:
Recognition of duty drawb...
Maruti Udyog Ltd. vs Commissioner of Income Tax, Delhi (Delhi High Court) – Section 43B Income Tax Act on Excise Duty PLA Deposit, Unutilized MODVAT Credit, Sales Tax Recoverable & Software Expenditure Deduction
Facts of the
CaseThe assessee, Maruti Udyog Ltd., filed an appeal
before the Delhi High Court challenging the order of the Income Tax Appellate
Tribunal dated 28 March 2005 concerning Assessment Year 2000–01.The dis...
Commissioner of Income Tax, Delhi vs Maruti Suzuki India Ltd. – Duty Drawback Accrual, Customs Duty Valuation, Excess Consumption of Raw Material, MODVAT Credit, Depreciation on Enhanced Liability and TDS on Foreign Commission Agents under Sections 40(a)(i) & 195 of the Income-tax Act, 1961
Facts of the
CaseThe Revenue filed an appeal against the order of
the Income Tax Appellate Tribunal (ITAT) relating to Assessment Year 2001–02.
The dispute arose from multiple additions and disallowances made by the...
Commissioner of Income Tax, Delhi vs. M/s Maruti Udyog Ltd. | Delhi High Court on Addition for Alleged Excess Consumption of Raw Materials under Income Tax Act (AY 2000–01)
Facts of the
CaseThe Revenue filed an appeal before the Delhi High
Court challenging the order of the Income Tax Appellate Tribunal (ITAT) dated
05 September 2008 for Assessment Year 2000–01.The Assessing Officer ha...
Commissioner of Income Tax, Delhi vs. Maruti Udyog Ltd. (Delhi High Court) – Addition on Alleged Excessive Consumption of Raw Material, Stock Discrepancy under RG-23 Register & Taxability of Duty Drawback under Income Tax Act
Facts of the
Case
The Assessing Officer observed discrepancies between physical stock
records and RG-23 Part-II excise records.
Based on such discrepancies, an addition of Rs. 643.34 Crores
was made all...
Commissioner of Income Tax, Delhi vs Maruti Suzuki India Ltd. (Delhi High Court) – Taxability of Duty Drawback Income under the Income-tax Act, 1961 | AY 1994–95, 1997–98 & 1998–99
Facts of the
CaseThe Revenue preferred an appeal before the Delhi
High Court challenging the order passed by the Income Tax Appellate Tribunal
(ITAT), wherein the Tribunal held in favour of the assessee, Maruti Suzuki...