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Principal Commissioner of Income Tax-18 vs Shri Om Prakash Chandna Deletion of Additions in Block Assessment under Sections 158BC & 260A of the Income Tax Act, 1961 – No Addition Sustainable Without Evidence of Undisclosed Investment
Facts of the CaseSearch operations were conducted against the assessee on
22.02.1996, resulting in block assessment proceedings under Section 158BC of
the Income Tax Act. During assessment, the Assessing Officer made s...
Pr. Commissioner of Income Tax-6, New Delhi vs National Informatics Centre Services Inc. – Validity of E-Filed Return and Limitation for Notice under Section 143(2) of the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseThe assessee filed its income tax return for Assessment Year
2009–10 electronically on 01.09.2010 under Rule 12(3) of the Income Tax Rules.
Since the return was filed without digital signature, physi...
Pr. Commissioner of Income Tax–6 vs M/s Mohan Export India Pvt. Ltd. | Delhi High Court | Allowability of Export Commission Expenditure under Section 37(1) and Deletion of Addition on
Facts of the CaseThe assessee, engaged in export trading and supply of goods to
foreign buyers, filed its return for AY 2006–07 declaring taxable income.
During assessment proceedings, the Assessing Officer (AO) exam...
Principal Commissioner of Income Tax-7 vs Oriental International Co. Pvt. Ltd. | Section 68 of Income Tax Act, 1961 | Unexplained Cash Credit on Share Application Money | Delhi High Court
Facts of the CaseThe assessee company received ₹5 crores as share application
money from five corporate entities. During assessment proceedings, the
Assessing Officer questioned the genuineness of these transactions ...
Scan Holding Pvt. Ltd. vs Assistant Commissioner of Income Tax & Anr. | Delhi High Court on Reassessment under Sections 147/148 of Income Tax Act and Validity of “Reason to Believe” Based on Third-Party Complaint
Facts of the CaseThe petitioner, Scan Holding Pvt. Ltd., challenged the
reassessment proceedings initiated by the Income Tax Department for Assessment
Year 2008–09 under Sections 147 and 148 of the Income-tax Act.The...
Pr. Commissioner of Income Tax–2 vs British Motor Car Co. (1934) Ltd. | Section 32(2) Income Tax Act | Unabsorbed Depreciation Carry Forward Beyond 8 Years | Delhi High Court
Facts of the CaseThe assessee had unabsorbed depreciation pertaining to earlier
assessment years, the earliest being Assessment Year 1998–99. During Assessment
Year 2010–11, the assessee claimed set-off of such car...
Commissioner of Income Tax, Delhi vs. M/s Hind Nihon Proteins Pvt. Ltd. | Allowability of Commission Expenditure under Section 37 of the Income Tax Act | Delhi High Court
Facts of the CaseThe assessee, M/s Hind Nihon Proteins Pvt. Ltd., claimed
deduction for commission payments made to two partnership firms, namely M/s
Sikand Farm and M/s R&A Exports, for procuring business orders. ...
Commissioner of Income Tax, Delhi vs. Hind Nihon Proteins Pvt. Ltd. (Delhi High Court) – Allowability of Commission Expenditure under Section 37 of the Income Tax Act and Scope of Interference under Section 260A
Facts of the CaseThe assessee, M/s Hind Nihon Proteins Pvt. Ltd.,
claimed deduction of commission paid to two partnership firms, namely M/s
Sikand Farm and M/s R&A Exports, for procuring business orders.The Assessi...
Commissioner of Income Tax, Delhi Vs M/s Hind Nihon Proteins Pvt. Ltd. – Allowability of Commission Expenditure under Section 37 of the Income Tax Act | Delhi High Court
Facts of the CaseThe assessee, M/s Hind Nihon Proteins Pvt. Ltd., had paid
commission to two partnership firms, namely M/s Sikand Farm and M/s R&A
Exports, for procuring business orders. These entities were related...
Oriental Bank of Commerce vs Additional Commissioner of Income Tax (Delhi High Court) – Deductibility of Provision for Interest on Overdue Fixed Deposits under Mercantile System | Section 37(1), Income Tax Act
Facts of the CaseThe assessee, a scheduled bank, claimed deduction of
approximately ₹17 crores towards interest payable on overdue fixed deposits in
its return of income. The liability was calculated at the savings b...