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Commissioner of Income Tax, Delhi-IV vs. M/s Gujarat Guardian Ltd. | Section 263 Revision Cannot Be Invoked Where Assessing Officer Has Adopted a Plausible View on Royalty Expenditure and Section 80HHC Deduction
Facts of the CaseM/s Gujarat Guardian Ltd., engaged in the manufacture and sale
of float glass, filed its return of income declaring nil income under the
normal provisions of the Act and book profits under Section 115J...
Commissioner of Income Tax vs Assessee – Revenue Appeal Dismissed Due to Low Tax Effect | Delhi High Court (ITA No. 279/2008)
Facts of the CasesThe Revenue had filed an appeal before the Delhi High Court
against the order of the Income Tax Appellate Tribunal (ITAT). The appeal had
initially been admitted ex parte by an order dated 26.09.2008....
Commissioner of Income Tax, Delhi-IV vs H.B. Stock Holdings Ltd. – Reassessment Under Section 147/148 Not Permissible on an Issue Already Decided in Favour of the Assessee
Facts of the
CaseThe assessee filed its return of income for
Assessment Year 1995-96, declaring short-term capital gains arising from the
sale of certain shares. The assessee treated such shares as investments and
ac...
Commissioner of Income Tax v. Raghav Behl | Penalty u/s 271(1)(c) Not Leviable on Bona Fide Claim Where Two Views Are Possible – Delhi High Court
Facts of the CaseThe Assessing Officer (AO), during proceedings under Section
147 of the Income-tax Act, 1961, examined the assessee's return for Assessment
Year 2002-03. The assessee had claimed expenditure amounting ...
Commissioner of Income Tax, Delhi-VIII vs Mukesh Luthra – Reassessment under Sections 147/148 Invalid in Absence of Tangible Material; Section 80HHC Export Deduction Upheld | Delhi High Court
Facts of the
CaseThe Revenue initiated reassessment proceedings
against the assessee, Mukesh Luthra, by issuing notices under Section 148 of
the Income-tax Act, 1961 for Assessment Years 1997-98, 1998-99 and 1999-2000...
Commissioner of Income Tax vs. NIIT Ltd. | Section 194-I TDS on Infrastructure Claims Paid to Franchisees – Franchise Revenue Sharing Not Rent
Facts of the CaseThe assessee, NIIT Ltd., was engaged in the business of
providing computer education and training through its own centres as well as
through franchisees operating under NIIT’s licence and brand name....
Commissioner of Income Tax vs. M/s Creative Dyeing & Printing Pvt. Ltd. – Business Advances for Commercial Purpose Not Taxable as Deemed Dividend Under Section 2(22)(e) of the Income Tax Act, 1961
Facts of the CaseM/s Creative Dyeing & Printing Pvt. Ltd. was engaged in
the business of dyeing and printing cloth and functioned as an ancillary unit
for M/s Pee Empro Exports Pvt. Ltd. for several years.Both comp...
Commissioner of Income Tax, Delhi-VIII vs. Mukesh Luthra | Reassessment under Sections 147/148 Invalid in Absence of Tangible Material – Delhi High Court
Facts of the
CaseThe Assessing Officer (AO) initiated reassessment
proceedings under Section 148 of the Income-tax Act, 1961 for Assessment Years
1997-98, 1998-99 and 1999-2000 on the ground that income had escaped
a...
Commissioner of Income Tax vs Assessees (ITA Nos. 870–879 of 2009) | Delhi High Court | Scope of Rectification under Section 254 of the Income-tax Act, 1961
Facts of the
Case
The ITAT dismissed the appeals filed by the assessees.
The assessees challenged the Tribunal’s orders by filing appeals
before the Delhi High Court under Section 260A of the Income-tax Act....
Indo Rama Synthetics (India) Ltd. vs Commissioner of Income Tax | Section 115JB MAT – Withdrawal from Revaluation Reserve Not Deductible Unless Added Back in Year of Creation
Facts of the CaseThe assessee, Indo Rama Synthetics (India) Ltd., engaged in
the business of manufacturing yarn and polyester products, computed its book
profit for Assessment Year 2001-02 under Section 115JB after red...