Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Pr. Commissioner of Income Tax-5 vs L.D. Crystals Pvt. Ltd. | Delhi High Court | Section 260A r/w Section 153A Income Tax Act | No Addition Without Incriminating Material During Search
Facts of the
CaseThe assessee, L.D. Crystals Pvt. Ltd., was
subjected to search proceedings under the Income Tax Act. Pursuant to the
search, assessments were completed under Section 153A, wherein
substantial additio...
Principal Commissioner of Income Tax-8 vs Steria India Ltd. | Section 10A Income Tax Act | Exclusion from Export Turnover and Total Turnover – Delhi High Court
Facts of the
CaseThe assessee, Steria India Ltd., claimed
deduction under Section 10A in respect of its export income. During assessment
proceedings, certain expenditures were excluded from the export turnover.The Rev...
Pr. Commissioner of Income Tax-5 vs L.D. Crystals Pvt. Ltd. | Delhi High Court | Section 260A read with Section 153A Income Tax Act | Addition in Search Assessment Without Incriminating Material
Facts of the
CaseThe assessee, L.D. Crystals Pvt. Ltd., was
subjected to search proceedings under the Income-tax Act. Consequent to the
search, assessment proceedings were initiated under Section 153A, and
substantia...
Woodward India Private Limited vs Additional Commissioner of Income Tax (Delhi High Court) – Refund Delay, Dishonoured Refund Cheques & Additional Interest under Section 244A(1A) of the Income Tax Act
Facts of the CaseThe petitioner company was entitled to income tax refunds for
three assessment years. For AY 2005–06 and AY 2006–07, the department issued
refund cheques amounting to Rs. 51,85,752/- and Rs. 23,95,...
Principal Commissioner of Income Tax-8 vs Steria India Ltd. | Delhi High Court on Exclusion of Export Turnover from Total Turnover under Section 10A of the Income Tax Act, 1961
Facts of the
CaseThe Revenue preferred multiple appeals before the
Delhi High Court challenging the order passed by the Income Tax Appellate
Tribunal. The dispute centered on the formula prescribed under Section 10A f...
Pr. Commissioner of Income Tax-6, New Delhi vs Monnet Ispat & Energy Ltd. | Delhi High Court | Effect of IBC Moratorium on Pending Income Tax Appeals under Sections 14, 238 & 7 of Insolvency and Bankruptcy Code, 2016
Facts of the CaseThe Income Tax Department had filed multiple
appeals before the Delhi High Court challenging orders passed by the Income Tax
Appellate Tribunal concerning the tax liabilities of Monnet Ispat & Ener...
Pr. Commissioner of Income Tax-6 Vs. Matrix Cellular International Services Pvt. Ltd. | Delhi High Court | Resale Price Method (RPM) vs Transactional Net Margin Method (TNMM) in Transfer Pricing under Sections 92C, 92CA & 260A of the Income-tax Act, 1961
Facts of the CaseThe assessee company was engaged in the business of
sale of airtime, rental of handsets, and supply of SIM cards. It filed its
income tax return declaring losses for the relevant assessment year 2009...
Principal Commissioner of Income Tax–8 vs Steria India Ltd. | Exclusion from Export Turnover Must Also Be Excluded from Total Turnover under Section 10A – Delhi High Court
Facts of the
CaseThe Revenue preferred multiple appeals before the
Delhi High Court challenging the order passed by the Income Tax Appellate
Tribunal (ITAT). The controversy arose in relation to the computation mechan...
M/s Ambience Hospitality Pvt. Ltd. Vs. Deputy Commissioner of Income Tax | False Depreciation Claim on Land, Mens Rea in Wrong Tax Declaration, Conviction Upheld under Sections 276C & 277 of the Income Tax Act, 1961 (Delhi High Court)
Facts of the CaseThe petitioner company claimed depreciation on land
amounting to Rs. 31,80,000 by clubbing it with building assets under the head
“property” in its balance sheet for AY 2007–08. Since land is not...
Commissioner of Income Tax (Exemptions) vs Asian Centre for Organisation Research & Development | Reassessment under Sections 147/148 and Charitable Exemption under Sections 12A, 12AA & 13(3) of the Income Tax Act
Facts of the
CaseThe Revenue filed appeals challenging the order of
the Income Tax Appellate Tribunal (ITAT), which had upheld the order of the
Commissioner of Income Tax (Appeals) [CIT(A)] in favour of the assessee. ...