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ONGC Videsh Limited & Another vs Deputy Commissioner of Income Tax, Circle 13(1), New Delhi & Others | Delhi High Court | Stay on Recovery of Penalty Demand Pending Appeal under Section 271(1)(c) of the Income Tax Act
Facts of the
CaseONGC Videsh Limited, a wholly owned subsidiary of
Oil and Natural Gas Corporation (ONGC) and a Government undertaking engaged in
exploration, development, and production of hydrocarbons outside India,...
Commissioner of Income Tax v. Mohan Meakin Ltd. & Connected Appeals – Whether Notional State Excise Duty Can Be Added to Closing Stock and Whether Gain on Sale of Depreciable Assets is Taxable under Sections 41(1) and 50 of the Income-tax Act
Facts of the CaseThe Revenue filed a batch of appeals raising common
issues concerning Mohan Meakin Ltd. and connected matters. One of the issues
related to expenditure incurred on Puja, Hawan and similar activities, w...
Commissioner of Income Tax vs. Mohan Meakin Ltd. | Delhi High Court | State Excise Duty Valuation of Closing Stock and Taxability of Capital Gains on Low-Value Business Assets under Section 41(1) of Income Tax Act, 1961
Facts of the
CaseMohan Meakin Ltd., engaged in the manufacture of
liquor and beer, was subjected to assessment proceedings wherein the Assessing
Officer enhanced the value of closing stock by adding state excise duty ...
Commissioner of Income Tax-XVII vs. Trans Bharat Aviation (P) Ltd. | TDS Liability on Payments to Government Undertakings and Interest Cessation under Section 201(1) and 201(1A) of the Income Tax Act
Facts
of the CaseThe assessee, M/s Trans Bharat
Aviation (P) Ltd., was engaged in the business of operating air taxis. During
verification proceedings, the Revenue discovered that the assessee made
payments to the Ai...
Commissioner of Income Tax vs. Maruti Udyog Limited (In re: Assessee/Japanese Equipment Supplier) | Taxation of Supervision Fees for Equipment Supply under Section 9(1)(vii) of Income Tax Act and Articles 7 & 12 of Indo-Japan DTAA: Whether Supervision Charges Partake the Character of Fees for Technical Services (FTS) or Business Profits Linked to Equipment Supply Simpliciter
Facts of the CaseThe case arose from cross-appeals filed by both
the Assessee and the Revenue against the order of the Income Tax Appellate
Tribunal (ITAT) dated October 15, 2003. The Assessee had earned supervision
f...
Commissioner of Income Tax v. Mohan Meakin Ltd. | Delhi High Court Upholds Deletion of Notional Excise Duty Addition to Closing Stock and Clarifies Taxability of Capital Gains on Sale of Depreciable Assets under Section 45 of Income Tax Act, 1961
Facts of the
CaseThe Revenue filed multiple appeals challenging
orders of the Income Tax Appellate Tribunal (ITAT) in favour of the assessee,
Mohan Meakin Ltd. Among the issues raised, one related to the addition of
...
Commissioner of Income Tax v. Mohan Meakin Ltd. & Connected Appeals – Addition of Notional State Excise Duty to Closing Stock and Taxability of Gains on Sale of Low-Value Assets under Section 50 of the Income Tax Act, 1961
Facts of the
CaseThe Revenue filed a batch of appeals challenging
the orders of the Commissioner of Income Tax (Appeals) and the Income Tax
Appellate Tribunal in favour of the assessee, Mohan Meakin Ltd.One of the iss...
Commissioner of Income Tax vs. Maruti Udyog Limited | Section 260A Appeal on Taxability of Supervision Fees as FTS under the Indo-Japan DTAA
Facts of the Case
The
Assessee's Business & Appeal: The
Assessee filed appeals before the Income Tax Appellate Tribunal (ITAT)
concerning the taxability of certain receipts.
Admission
of ...
Commissioner of Income Tax vs Mohan Meakin Ltd. & Connected Appeals – Deletion of Addition on Notional State Excise Duty in Closing Stock and Taxability of Gain on Sale of Low-Value Assets under Section 45 of Income Tax Act, 1961 | Delhi High Court
Facts of the
CaseThe Assessing Officer enhanced the value of the
assessee’s closing stock by adding State Excise Duty on a notional basis,
proceeding on the assumption that excise duty became payable at the stage of...
Commissioner of Income Tax vs. Maruti Udyog Limited / Japanese Equipment Supplier (ITA No. 404/2008) — Taxability of Supervision Fees as Fees for Technical Services (FTS) under Articles 7 & 12 of Indo-Japan DTAA vs. Equipment Supply Simpliciter
Facts of the Case
The
present appeals arise out of the order of the learned Income Tax Appellate
Tribunal (ITAT) dated October 15, 2003.
During
the original proceedings before the ITAT, the Appella...