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Principal Commissioner of Income Tax, Delhi-2 vs Sh. Vineet Gupta | Delhi High Court | Low Tax Effect Appeals Dismissed under CBDT Circular No. 3/2018 | Section 260A Income Tax Act
Facts of the CaseThe Revenue instituted multiple Income Tax Appeals against
the respondent assessee before the Delhi High Court challenging findings passed
by the lower appellate authority. At the hearing stage, counse...
Alfa Bhoj Limited vs Deputy Commissioner of Income Tax (Delhi High Court) – Section 68 Bogus Share Capital Addition Upheld (AY 2002–03)
Facts of the CaseThe assessee, Alfa Bhoj Limited, was subjected to search and
seizure proceedings under Section 132 of the Income Tax Act on 10 November
2004. Subsequently, notice under Section 153A was issued. D...
Principal Commissioner of Income Tax-7 vs M/s Oracle (OFSS) BPO Services Ltd (Delhi High Court) – Allowability of Revised Computation under Section 10A & Section 80A(5) of the Income Tax Act
Facts of the CaseThe Revenue filed an appeal under Section 260A of the Income
Tax Act, 1961 against the order of the Income Tax Appellate Tribunal concerning
Assessment Year 2009–10. The respondent-assessee was...
Commissioner of Income Tax-III vs Shyam Telelink Ltd. (Sistema Shyam Teleservices Ltd.) | Section 260A Income Tax Act | Taxability of Unutilized Prepaid Talk Time
Facts of the
CaseThe respondent-assessee, engaged in telecom
services, provided both prepaid and postpaid services. While postpaid billing
was based on actual usage, the dispute concerned prepaid cards.The assessee fo...
Commissioner of Income Tax-III vs Shyam Telelink Ltd. (Now Sistema Shyam Teleservices Ltd.) – Taxability of Unutilized Prepaid Talk Time under Section 260A of the Income Tax Act, 1961
Facts of the
Case
The assessee, engaged in telecom services, provided prepaid and
postpaid services.
For prepaid services, customers paid in advance for talk time.
The assessee recognized revenue only when...
Principal Commissioner of Income Tax-4 vs INS Finance & Investment Pvt. Ltd. (2019) – Taxability of Interest on Refund of Auction Money under Section 260A of Income Tax Act
Facts of the CaseThe respondent-assessee, INS Finance & Investment Pvt.
Ltd., had purchased land through an auction conducted by the Debt Recovery
Tribunal. Subsequently, the auction proceedings were challeng...
Principal Commissioner of Income Tax vs M/s Cliff Scaffoldings Pvt. Ltd. (Delhi High Court) – Appeal Dismissed on Low Tax Effect under CBDT Circular No. 3/2018
Facts of the
Case
The Revenue filed appeals before the Delhi High Court against the
respondent assessee, M/s Cliff Scaffoldings Pvt. Ltd.
During the hearing, counsel for the Revenue submitted that the tax
...
Principal Commissioner of Income Tax-4 vs. Gaursons Realty Private Limited (Delhi High Court) – Interest Disallowance on Alleged Diversion of Funds under Section 36(1)(iii) & Section 37 of Income Tax Act
Facts of the CaseThe Revenue filed an appeal under Section 260A challenging the
order of the Income Tax Appellate Tribunal (ITAT), which had deleted
disallowance of interest expenditure amounting to ₹5.68 crore...
Principal Commissioner of Income Tax, Delhi-2 vs. Vineet Gupta (2018:DHC:8308-DB) – Appeal Dismissed Due to Low Tax Effect under CBDT Circular No. 3/2018
Facts of the
CaseThe Revenue filed multiple income tax appeals
against the respondent, Vineet Gupta. However, during the hearing, it was
submitted by the Revenue that the tax effect involved in the appeals was
below ...
PR. Commissioner of Income Tax–6, New Delhi vs NDR Promoters Pvt. Ltd. | Section 68 Income Tax Act | Bogus Share Capital / Accommodation Entries | Delhi High Court
Facts of the CaseThe assessee company received ₹1.51 crore as share
capital/share premium from multiple companies during the relevant
assessment year. The Assessing Officer (AO) alleged that these companies were shel...