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Sonia Magu & Others vs Commissioner of Income Tax (Delhi High Court) | Addition on Account of Unexplained Jewellery Cannot Survive Once Source is Fully Explained | Sections 132 & 69A of the Income-tax Act, 1961
Facts of the CaseA search and seizure operation under Section 132 of
the Income-tax Act was conducted on 17.01.2002 at the premises of M/s Indiair
Carriers Pvt. Ltd. and the residential premises of members of the Magu ...
Commissioner of Income Tax vs. Whirlpool of India Pvt. Ltd. (2009:DHC:7187-DB): Delhi High Court Rules That a Bona Fide and Debatable Claim Regarding the Date of Setting Up a Business Does Not Amount to Concealment of Income or Furnishing Inaccurate Particulars Under Section 271(1)(c) of the Income Tax Act, 1961
Facts of the
Case·
The
assessee (Whirlpool of India P. Ltd.) filed its return of income for the
Assessment Year (AY) 1996-97 on December 31, 1996. The case was selecte...
Sonia Magu & Others vs Commissioner of Income Tax (Delhi High Court) – Addition for Unexplained Jewellery Cannot Survive Once Source of Acquisition is Accepted | Section 132, Income Tax Act
Facts of the
CaseA search and seizure operation under Section 132 of
the Income Tax Act was conducted on 17.01.2002 at the premises of M/s India
Carriers Pvt. Ltd. and the residential premises of members of the Magu f...
Sonia Magu & Ors. v. Commissioner of Income Tax (Delhi High Court) – Addition on Account of Voluntary Offer of Income Cannot Survive Once Source of Jewellery is Fully Explained under Sections 132 & 69 of the Income-tax Act, 1961
Facts of the Case
A search and seizure operation under Section 132 of the Income-tax
Act, 1961 was conducted on 17 January 2002 at the premises of M/s India
Carriers Pvt. Ltd. and the residential premises o...
Commissioner of Income Tax vs. Mrs. Indu Nagu & Connected Assessees | Delhi High Court | Addition on Account of Unexplained Jewellery Cannot Survive Once Source is Fully Explained – Section 69A, Income Tax Act
Facts of the CaseA search and seizure operation under Section 132 of
the Income Tax Act was conducted on 17.01.2002 at the premises of M/s Indair
Carriers Pvt. Ltd. and at the residential premises of its directors,
sh...
Sonia Magu & Others vs Commissioner of Income Tax (Delhi High Court) – Addition for Unexplained Jewellery Cannot Survive Once Source is Fully Explained | Sections 132 & Block Assessment Provisions of Income Tax Act
Facts of the
Case
A search and seizure operation under Section 132 of the Income Tax
Act was conducted on 17.01.2002 at the premises of M/s Indair Carriers
Pvt. Ltd. and the residences of its directors, sh...
Commissioner of Income Tax vs. Assessee Company – Share Application Money Received from Identified Shareholders Cannot Be Treated as Undisclosed Income of the Company Under Section 68 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The assessee company received share application money from various
shareholders.
During assessment proceedings, the Assessing Officer questioned the
genuineness of the share capital rec...
Commissioner of Income Tax vs. Assessee Company – Share Application Money Received from Identified Shareholders Cannot Be Treated as Undisclosed Income of the Company Under Section 68 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
Case
The assessee company received share application money from various
shareholders.
During assessment proceedings, the Assessing Officer questioned the
genuineness of the share capital rec...
Commissioner of Income Tax vs. Sophisticated Marbles & Granite Industries – Marble Processing, Polishing and Finishing Activities Constitute “Manufacture” under the Income-tax Act (Delhi High Court)
Facts of the
CaseThe assessee was engaged in the business of
manufacture and sale of marble products.After purchasing marble blocks or slabs, the
assessee undertook various processes including:
Cutting of blocks int...
Commissioner of Income Tax v. Suresh Kumar Mittal | Reassessment under Sections 147/148 and Addition under Section 69D of the Income-tax Act, 1961 – Delhi High Court
Facts of the
CaseBased on intra-departmental information received by
the Assessing Officer (AO), a search was conducted on 15.12.1997 in the case of
Mr. Kamal Chand Jain. During the search, a large number of hundi rec...