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The Commissioner of Income Tax vs. M/s. Usha Stud & Agricultural Farms Pvt. Ltd. (and Ameeta Mehra): Scope of Stock Valuation under Section 145 and the Rule of Consistency in Livestock Breeding Income Determination—Whether Inventory Method constitutes a Substantial Question of Law
Facts of the Case
Assessee
Business: The respondent-assessee is a private
limited company carrying on the commercial business of breeding and
maintenance of horses, alongside associated agricultural a...
COMMISSIONER OF INCOME TAX VERSUS M/S GLOCOM IMPEX P. LTD: A DEFINITIVE ANALYSIS ON THE LIMITS OF SECTION 68 OF THE INCOME TAX ACT, 1961 REGARDING SHARE CAPITAL CONTRIBUTIONS AND INVESTOR CREDITWORTHINESS
Facts of the CaseThe assessee, a private limited company known as M/S Glocom
Impex P. Ltd., reported an infusion of ₹15 lacs into its books of account
categorized as share capital contribution. This specific investme...
Commissioner of Income Tax v. M/s. Usha Stud & Agricultural Farms Pvt. Ltd. (ITA No. 129/2003) — Validity of Nil Valuation of Foals and Consistency in Method of Accounting Under Section 145 of the Income Tax Act, 1961
Facts of the Case
The
respondent-assessee is a private limited company involved in the business
of breeding and maintaining horses, alongside undertaking integrated
agricultural activities to produce ...
COMMISSIONER OF INCOME TAX VERSUS M/S R.B. NARAIN SINGH SUGAR MILL: DETERMINATION OF SUBSTANTIAL QUESTION OF LAW UNDER SECTION 260A OF THE INCOME TAX ACT, 1961
Facts of the CaseThe Revenue (Commissioner of Income Tax) preferred an appeal
against the order dated November 23/30, 2005, passed by the Income Tax
Appellate Tribunal (ITAT), Delhi Bench 'G'. This appeal specifically ...
COMMISSIONER OF INCOME TAX VERSUS M S D C M LTD INCOME TAX APPEALS BUSINESS EXPENDITURE AND INVESTMENT ALLOWANCE SECTION 32A SECTION 37 AND SECTION 260A OF THE INCOME TAX ACT
Facts of the Case
The
Revenue filed an appeal against the order dated August 2, 2004, passed by
the Income Tax Appellate Tribunal (ITAT), Delhi Bench "F".
The
ITAT order pertained to ITA No. 3825 a...
COMMISSIONER OF INCOME TAX DEL Versus M/S VIBROS ORGANICS LTD: Disallowance of Depreciation Claim and Protection Against Penalty for Bona Fide Belief Under Section 271(1)(c) and Section 32(1)
Facts of the Case
The
assessee, M/S Vibros Organics Ltd., is a company engaged in the business
of manufacturing chemicals.
For
the assessment year 2001-2002, the company declared a loss and claimed...
COMMISSIONER OF INCOME TAX DELHI VERSUS M/S GUARDIAN INTERNATIONAL CORP ACCRUAL AND TAXABILITY OF ROYALTY INCOME SECTIONS 5 AND 9 OF THE INCOME TAX ACT 1961
Facts of the Case
The
legal dispute pertains to the assessment year 1996-97.
The
litigation arose from a commercial arrangement involving Gujarat Guardian
Limited and the Assessee, M/S Guardian Int...
Commissioner of Income Tax vs M/s Mahalakshi Mills Co. Ltd. – Additional Ground Before CIT(A) During Appeal Proceedings – Sections 246A and 250 of the Income Tax Act
Facts of the CaseThe Revenue challenged the order dated 21 October 2005
passed by the Income Tax Appellate Tribunal, Delhi Bench 'B', relating to
Assessment Years 1993-94, 1994-95, 1996-97 and 1997-98.The controversy a...
Commissioner of Income Tax vs M/s R.D. Ramnath Company – Interest on Refund under Section 244(1A) on Amount Paid under Section 220(2) of the Income-tax Act
Facts of the CaseThe Revenue challenged the order dated 9 June 2005 passed by
the Income Tax Appellate Tribunal, Delhi Bench "D" in ITA Nos. 4125
to 4128/Del/2004 relating to Assessment Years 1978-79, 1982-83, 1983-84 ...
Commissioner of Income Tax vs M/s R.D. Ramnath Company – Interest on Refund Under Section 244(1A) of the Income Tax Act Read with Section 220(2)
Facts of the CaseThe Revenue challenged the
order dated 9 June 2005 passed by the Income Tax Appellate Tribunal, Delhi
Bench "D", in ITA Nos. 4125 to 4128/Del/2004 relating to Assessment
Years 1978-79, 1982-83, 1983-8...