Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
KOA Investment Limited vs Income Tax Officer Ward-14(4) – Delhi High Court | Reassessment u/s 148 Invalid Due to Change of Opinion & Lack of Proper Approval (AY 2012–13)
Facts of the
CaseThe petitioner, KOA Investment Limited, filed its
return for AY 2012–13 and underwent scrutiny assessment under Section 143(3) of
the Income Tax Act.During scrutiny:
The Assessing Officer (AO) exa...
Principal Commissioner of Income Tax–12, New Delhi vs. MS L&T SUCG JV CC27 – Penalty under Section 271AA Deleted due to Reasonable Cause (Delhi High Court)
Facts of the
CaseThe present appeal was filed by the Revenue before
the Delhi High Court challenging the order of the Income Tax Appellate Tribunal
concerning Assessment Year 2014–15.The respondent-assessee, a joint...
The Pr. Commissioner of Income Tax-4 vs Hindustan Coca Cola Beverages Pvt. Ltd. (Delhi High Court, 2023) – FBT on Advertisement Expenses under Sections 115WB & 115WC
Facts of the Case
The
case relates to Assessment Year 2008–09.
The
assessee incurred advertisement and promotional expenses amounting to
approximately ₹46.92 crores.
The
Assessing Offi...
Luv Impex Private Limited vs Income Tax Officer Ward 15(1) & Anr. – Delhi High Court Judgment on Reassessment & Natural Justice under Sections 148A(b), 148A(d), 144B of Income Tax Act, 1961
Facts of the CaseThe petitioner, Luv Impex Private Limited, challenged
reassessment proceedings initiated by the Revenue under the Income Tax Act,
1961. The dispute arose from:
Notice
dated 07.03.2023 under Sec...
The Pr. Commissioner of Income Tax, Central-3 vs Pawansut Holding Ltd (Delhi High Court) – Protective vs Substantive Additions | AY 2014-15 | ITA 472/2023
Facts of the Case
The
appeal pertains to Assessment Year 2014–15.
The
Revenue challenged the ITAT order dated 14.12.2022.
The
Tribunal had disposed of the appeal relating to protective additio...
M/s Valley Iron & Steel Co. Ltd vs Assistant Commissioner of Income Tax, Central Circle-5, New Delhi
Facts of
the Case
The
petitioner filed its return for AY 2011–12 declaring nil income
after claiming deduction under Section 80IC.
The
case was selected for scrutiny and detailed queries w...
Commissioner of Income Tax, Delhi vs M/s Mayank Service Ltd – Section 68 Addition on Share Capital & Share Premium | Delhi High Court Judgment
Facts of the CaseThe case pertains to Assessment Year 2000–01 where the
respondent/assessee, M/s Mayank Service Ltd, received ₹45 crores through
private placement from five investor companies towards share capital ...
Principal Commissioner of Income Tax-4 vs M/s National Fertilizers Ltd (Delhi High Court, 2023) – Delay of 498 Days Not Condoned under Section 260A of Income Tax Act
Facts of the Case
The
Revenue filed an appeal before the High Court with a delay of 498 days.
An
application for condonation of delay was filed citing procedural delays,
official hierarchy, a...
Commissioner of Income Tax vs M/s Saeed Mustafa Shervani (Delhi High Court, 2023) – Taxability of Non-Compete Fee as Capital Receipt under Sections 147/148 & 28 of Income Tax Act
Facts of the
CaseThe assessee, Mr. Saeed Mustafa Shervani, Joint
Managing Director of GISL, filed his return declaring income of ₹23,24,590 for
AY 1999–2000.Subsequently, reassessment proceedings were
initiated u...
M/s Deep and Veer Construction Co. Pvt. Ltd. vs Pr. Commissioner of Income Tax, Delhi–3 (Delhi High Court, ITA 475/2023, AY 2006–07) – Delay of 968 Days Not Condoned; No Substantial Question of Law
Facts of the Case
The
present appeal was filed by the assessee, M/s Deep and Veer
Construction Co. Pvt. Ltd., challenging the order dated 19.01.2023
passed by the Income Tax Appellate Tribunal (ITAT)....