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Family Pension — Taxation & Standard Deduction
: Family Pension — Taxation & Standard
DeductionRelevant Provision: Section
92 read with Section 93(1)(d)1. Family Pension vs PensionPension
received by a retired employee during their own lifetime is taxable un...
ITR Filing Due Dates Under the New Income Tax Act — Complete Calendar
ITR Filing
Due Dates — Complete CalendarMissing your ITR deadline doesn’t just mean a late fee — it can also
cost you the ability to carry forward losses and switch tax regimes freely.
Here’s the complete pict...
Commissioner of Income-tax, Delhi-V vs. M/s. Span Industries: Whether Development Rebate Reserve Created After the Accounting Year via Revised Return Complies with Section 34(3) of the Income-tax Act, 1961 — Delhi High Court Case Law
Facts of the Case
Assessee
Status & Filing: For the assessment year 1976-77, the
assessee, M/s. Span Industries, originally filed its income tax return on
July 16, 1976.
Omission
in Origi...
Commissioner of Income Tax, Delhi - IV, New Delhi vs. M/s. Printpak Machinery Limited, New Delhi: Whether Technical Know-How Expense Claim Under Section 256(1) of Income Tax Act, 1961 is Revenue or Capital in Nature — Scope of Remand to Income-Tax Appellate Tribunal for Fresh Adjudication
Facts of the Case
The
Reference: The matter came before the High Court of
Delhi as a reference application under Section 256(1) of the Income Tax
Act, 1961. The Income-tax Appellate Tribunal (ITAT), D...
Commissioner of Income Tax v. M/s. R.J. Wood & Co. (P) Ltd.: Broadening the Scope of Allowable Business Hospitality and Petty Expenses under Section 37(2B) of the Income Tax Act, 1961
Facts of the CaseThe dispute arose out of an assessment proceeding concerning
the assessee, M/s. R.J. Wood & Co. (P) Ltd., a private limited company
engaged in commercial trade. During the relevant assessment perio...
M/s Freeze King Industries Pvt. Ltd. v. Commissioner of Income Tax, Delhi – Allowability of Interest Paid on Instalments for Industrial Plot Acquisition under Sections 37(1) and 43(1) of the Income-tax Act, 1961
Facts of the CaseM/s Freeze King Industries Private Limited was engaged in the
business of manufacturing and selling air-conditioning and refrigeration
machinery. For the Assessment Year 1976-77, the company had acquir...
Commissioner of Income Tax, Delhi - III v. Shri Rajinder Kumar Gupta: Interpretation of 'Transfer' Under Section 2(47) and the Legal Boundaries of Extinguishment of Rights for Capital Gains Assessment Under Section 45 of the Income Tax Act, 1961
Facts of the CaseThe dispute originated from an assessment year wherein the
Revenue authorities asserted that a specific transaction undertaken by the
assessee, Shri Rajinder Kumar Gupta, amounted to a legal "transfer"...
Pushpa Godhwani vs Commissioner of Income Tax – Inclusion of Disputed Immovable Property in Net Wealth under Section 2(m) of the Wealth-tax Act, 1957 | Delhi High Court
Facts of the CaseThe assessee, Pushpa Godhwani, filed wealth-tax returns for
Assessment Years 1991-92 and 1992-93. In her return for Assessment Year
1992-93, she declared the value of her share in immovable properties ...
Commissioner of Income Tax, Delhi-V, New Delhi vs. M/s. United Engineering Industries, New Delhi: Detailed Judicial Examination of the Eligibility of Domestic Expenditures for Weighted Deduction under Section 35B of the Income Tax Act, 1961
Facts of the CaseThe litigation originated from an assessment proceeding under
the Income Tax Act, 1961, concerning the respondent-assessee, M/s. United
Engineering Industries, New Delhi. During the relevant assessment...
Commissioner of Income Tax, Delhi-I v. East West Linkers (P) Ltd. (2001) – Eligibility of Garment Manufacturing Unit for Deduction under Section 80J of the Income-tax Act, 1961
Facts of the CaseThe dispute related to the Assessment Year 1976-77. The
assessee, East West Linkers (P) Ltd., was a private limited company
engaged in the business of manufacturing and exporting garments. The assessee...