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Commissioner of Income Tax vs Gopal Das Estates & Housing Pvt. Ltd. (2019) Delhi High Court – Compensation Paid to Flat Buyers Held Revenue Expenditure | Rental Income from Stock-in-Trade Taxable as House Property Income | Sections 260A, 154 Income Tax Act
Facts of the Case
The
assessee company was engaged in construction and sale of commercial
space and followed the Completed Contract Method (CCM).
It
developed a commercial building “Gopal D...
PR. Commissioner of Income Tax vs. M/s Sahara India Life Insurance Company Ltd. (Delhi High Court) – Section 44, Reassessment & Penalty u/s 271(1)(c)
Facts of the CaseAs per the judgment , multiple appeals were filed by the
Revenue against a common order of the Income Tax Appellate Tribunal (ITAT)
concerning different assessment years (AY 2004–05, 2005–06, 2008...
Commissioner of Income Tax (International Taxation)-2 vs ZTE Corporation (Delhi High Court) – Software Payments Not Royalty under DTAA & Section 9(1)(vi) | Appeals Dismissed
Facts of the CaseThe present matter concerns appeals filed by the Revenue
against the orders of the Income Tax Appellate Tribunal for Assessment Years
2013–14 and 2015–16. The dispute revolved around the taxability...
PR. Commissioner of Income Tax vs M/s Sahara India Life Insurance Company Ltd (Delhi High Court) – Section 44 Computation, Reassessment u/s 147 & Penalty u/s 271(1)(c)
Facts of the CaseThe present case involves multiple appeals filed by the
Revenue against a common order of the Income Tax Appellate Tribunal (ITAT)
concerning different Assessment Years (AYs), including AY 2004-05, 200...
RDS Project Limited vs Assistant Commissioner of Income Tax, New Delhi & Anr. (Delhi High Court, 2019) – Reopening of Assessment u/s 147/148 on Basis of Accommodation Entries
Facts of the Case
The
Petitioner, RDS Project Limited, engaged in civil construction,
filed its return for AY 2012–13 declaring income of ₹16.68 crore.
Assessment
was completed under Section 14...
M/s Siddharth Export vs Assistant Commissioner of Income Tax (Delhi High Court) – Section 68 Unexplained Cash Credit & Section 260A Appeal Dismissed
Facts of the CaseThe assessee, a partnership firm engaged in export of
automobile spare parts, received unsecured loans:
₹26
lakhs (AY 2013–14)
₹87
lakhs (AY 2014–15)
These amounts were receiv...
Commissioner of Income Tax (LTU) vs SRF Limited – Appeal Dismissed on Low Tax Effect as per CBDT Circular No. 3/2018 | Delhi High Court
Facts of the CaseThe Revenue (Commissioner of Income Tax – LTU) filed appeals
before the Delhi High Court against the respondent, SRF Limited. The matter
pertained to tax disputes under the Income Tax Act.At the outs...
Gopal Das Estates & Housing Pvt. Ltd. vs Commissioner of Income Tax (Delhi High Court) – Compensation to Allottees Held as Revenue Expenditure under Section 37 & Section 260A of Income Tax Act
Facts of the
CaseThe assessee, engaged in construction and sale of
commercial space, developed a multi-storeyed building “Gopal Das Bhawan” in
Connaught Place, New Delhi. It followed the Completed Contract M...
J.M.D. Global Private Limited vs Pr. Commissioner of Income Tax-5 & Anr. (Delhi High Court, 2019) – Reopening of Assessment under Sections 147/148 on Basis of Accommodation Entries
Facts of the CaseThe petitioner, J.M.D. Global Private Limited, challenged
the validity of a reassessment notice issued under Section 148 of the Income
Tax Act for AY 2012–13.The reassessment was initiated on the bas...
Commissioner of Income Tax – LTU vs SRF Limited (Delhi High Court) – Appeal Dismissed Due to Low Tax Effect under CBDT Circular Section 260A of the Income Tax Act
Facts of the Case
The
Revenue (Commissioner of Income Tax – LTU) filed two appeals against SRF
Limited.
There
was a delay in re-filing the appeals, which was condoned by the Court.
At
th...