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The Motor & General Finance Ltd. & Ors. vs Commissioner of Income Tax-VI, New Delhi – No Interest on Interest Payable When Refund Interest Is Already Granted Along with Tax Refund under Sections 240, 243 & 244A of the Income-tax Act.
Facts of the Case
The assessees had filed their income tax returns and, based on the
returns, became entitled to refunds arising from excess payment of tax
through TDS and advance tax.
Refunds along with ...
Commissioner of Income Tax v. Assessee (ITA No. 504/2009) – Delhi High Court Holds That Section 14A Disallowance Cannot Be Made on Proportionate Basis Without Specific Findings
Facts of the
Case
The assessee had earned exempt income, including dividend income.
The Revenue sought disallowance of certain expenses under Section
14A of the Income-tax Act, 1961.
The lower authorities co...
Penwell Traders Ltd. v. Commissioner of Income Tax | Delhi High Court Upholds Block Assessment Additions and Penalty under Sections 158BFA(2) & 260A of the Income-tax Act, 1961
Facts of the
CaseA search operation was conducted at the premises of
Penwell Traders Ltd., leading to block assessment proceedings.The Assessing Officer determined undisclosed income
under the following heads:
Inter...
The Motor & General Finance Ltd. & Ors. v. Commissioner of Income Tax-VI, New Delhi | Whether Interest on Refund Includes Interest on Interest under Sections 240, 243 & 244A of the Income-tax Act, 1961 – Delhi High Court
Facts of the CaseThe appeals were filed by various assessees
including The Motor & General Finance Ltd., MGF India Ltd., Goodwill
(India) Ltd., and MGM (India) Ltd. The common issue involved was whether an
assesse...
Penwell Traders Ltd. vs Commissioner of Income Tax (Delhi High Court) – Addition on Undisclosed Interest Income, Unexplained Share Investments and Penalty under Section 158BFA(2) Upheld
Facts of the
CaseA search operation was conducted at the premises of
Penwell Traders Ltd. Pursuant to the search, block assessment proceedings were
initiated.During assessment, the Assessing Officer made
additions on...
Commissioner of Income Tax vs Assessee – Whether Appeal under Section 260A is Maintainable Against ITAT's Interim Order Rejecting Additional Grounds | Delhi High Court
Facts of the CaseThe appellant filed an appeal before the Delhi High
Court challenging the order dated 29.08.2008 passed by the Income Tax Appellate
Tribunal (ITAT). The Tribunal had rejected the appellant's applicatio...
Assessee vs Commissioner of Income Tax – Appeal Against ITAT’s Rejection of Additional Grounds Held Premature Under Section 260A of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee filed appeals before the Delhi High
Court challenging the order dated 29.08.2008 passed by the Income Tax Appellate
Tribunal (ITAT). The Tribunal had rejected the assessee’s application...
Saga Departmental Stores Ltd. vs Commissioner of Income Tax (Appeals) | Disallowance of Commission Expenses for Lack of Evidence and Verification under the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseThe assessee was engaged in the business of
operating departmental stores selling handicrafts, carpets and other items
primarily to tourists.For Assessment Year 2005-06, the assessee claimed
commissio...
The Motor & General Finance Ltd. vs. Commissioner of Income Tax-VI, New Delhi – Whether Interest on Interest is Payable on Income Tax Refunds under Sections 143(1)(a), 154, 240, 243 & 244A of the Income-tax Act, 1961
Facts of the CaseThe appeals were filed by various assessees
including The Motor & General Finance Ltd., MGF India Ltd., Goodwill
(India) Ltd., and MGM (India) Ltd. before the Delhi High Court. The common
issue in...
Sonia Magu & Ors. vs Commissioner of Income Tax | Delhi High Court | Section 132 Search & Seizure – Addition on Account of Alleged Unexplained Jewellery Deleted
Facts of the
Case
A search and seizure operation under Section 132 was conducted on
17 January 2002.
Jewellery belonging to various members of the Magu family was found
during the search.
The Ass...