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Rajeev Tandon vs Assistant Commissioner of Income Tax (ACIT), New Delhi – Unexplained Foreign Gifts Treated as Bogus Credits under Sections 68 & 260A of the Income Tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee, Mr. Rajeev Tandon, claimed to have
received two gifts from abroad:
Rs. 30,04,300 from Mr. P.B. Bhardwaj.
Rs. 4,61,942 from Mr. Surender Khoka.
The assessee produced documents to esta...
Commissioner of Income Tax v. Ram Commercial Enterprises Ltd. (Remand Matter Relating to Penalty under Section 271(1)(c) of the Income-tax Act, 1961) | Delhi High Court
Facts of the CaseThe Income Tax Appellate Tribunal had deleted the
penalty imposed under Section 271(1)(c) of the Income-tax Act, 1961. The
Tribunal relied upon the decision of the Delhi High Court in CIT v. Ram
Comme...
Commissioner of Income Tax, Delhi-I, New Delhi vs M/s Capital Flour Mills Pvt. Ltd. – Whether Addition Under Section 69D and Reassessment Under Section 148 Can Be Sustained on the Basis of a Photocopy Alleged Hundi Transaction | Delhi High Court
Facts of the
CaseA search and seizure operation was conducted on 15
December 1997 in the Kamal Chand Jain Group. During the search, several hundi
receipts were seized allegedly showing advances made to various persons...
Commissioner of Income Tax vs. Shriram Piston & Rings Ltd. | Mandatory Recording of AO Satisfaction for Penalty Under Section 271(1)(c)
Facts of the Case
The
Revenue (Appellant) preferred an appeal against the order dated 14th
December, 2006, passed by the Income Tax Appellate Tribunal ('Tribunal'),
Delhi Bench 'H', New Delhi in ITA N...
Marvel Polymers Pvt. Ltd. vs Commissioner of Income Tax-II, New Delhi (Delhi High Court) – Business Set Up vs Commencement of Business for Allowability of Expenditure under the Income-tax Act, 1961
Facts of the CaseMarvel Polymers Pvt. Ltd. was incorporated with the
object of carrying on the business of manufacturing footwear and footwear parts
and also engaging in trading activities. For Assessment Year 1998-99,...
Commissioner of Income-Tax, Delhi-VII vs. M/S. Kwality Restaurant & Ice Cream Co.ITR No. 201/1986 | 2007:DHC:1486-DB | Delhi High Court
Facts of the Case
Assessee
Constitution: The assessee is a partnership firm engaged
in the business of manufacturing ice cream. It was constituted under a
partnership deed dated April 27, 1980, which ...
Commissioner of Income Tax, Delhi-II v. Jindal Vegetables Products Ltd. | Delhi High Court Upholds Depreciation Claim and Deletes Addition Towards Alleged Unexplained Machinery Expenditure under Sections 32, 143(3), 115JA and 260A of the Income-tax Act, 1961
Facts of the
CaseThe assessee filed its return under Section 115JA
declaring income for Assessment Year 1997-98. During assessment proceedings
under Section 143(3), the Assessing Officer examined the assessee's claim ...
Google Hitting Title: Commissioner of Income Tax vs. Mahavir Aluminium Limited | Validity of Opening Stock Adjustment under Section 145A for Transitional Year
Facts of the CaseThe Assessee, Mahavir Aluminium Limited, charged MODVAT credit
on certain inputs in its closing stock for the previous year ending March 31,
1999. While performing this valuation, the Assessee made a c...
Commissioner of Income Tax vs. Dr. R. N. Goel (2008) – Allowability of Commission and Service Charges Paid to Related Concern under Section 40A(2)(b) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, Dr. R. N. Goel, filed his return of
income for Assessment Year 1996-97 declaring income of Rs. 18,97,440. During
scrutiny assessment proceedings, the Assessing Officer examined commissio...
Commissioner of Income Tax v. Shri Ravinder Nath Goel | Allowability of Commission and Service Charges Paid to Related Concern – Delhi High Court
Facts of the
Case
The assessee had paid commission and service charges to M/s
Chemline India Limited.
The Assessing Officer disallowed commission of Rs. 26,21,460 and
service charges of Rs. 3,22,765.
T...