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Provision for Warranty Expenses: Allowability as Business Deduction under Section 37 of the Income Tax Act – Commissioner of Income Tax vs. M/s. Vinitec Corporation Pvt. Ltd.
Facts
of the CaseThe assessee (M/s. Vinitec Corporation
Pvt. Ltd.) filed its income tax return for the assessment year 2000-01. During
the assessment process, the assessee claimed a deduction for a provision
created ...
Commissioner of Income Tax vs. M/s HCL Info System Ltd.: Liability for TDS on Conveyance and Leave Travel Allowance
Facts
of the CaseThe assessee, M/s HCL Info System Ltd.,
engaged in the computer hardware business, was subject to a survey under Section
133A of the Income Tax Act, 1961. The Assessing Officer (AO) noted that the
co...
Commissioner of Income Tax vs. M/s. Fujitsu Ltd. Japan & Anr.: Bona Fide Belief as Reasonable Cause for Non-Deduction of TDS
Facts
of the CaseThe case involved multiple non-resident
companies, including M/s. I.H.I. Co. Ltd. and M/s. Fujitsu Ltd. Japan, which
operated liaison offices in India. Following survey operations under section
133A ...
Director of Income Tax (Exemption) vs. Institute of the Franciscan Clarist Sister of the Most Blessed Sacrament: Interpretation of 'Solely for Educational Purposes' under Section 10(22)
Facts
of the CaseThe Assessee, a religious
institution, operated approximately 16 schools, employing over one thousand
teachers and nuns, and provided education to several thousand students. The
Assessing Officer con...
Director of Income Tax (Exemption) vs. Institute of the Franciscan Clarist Sister of the Most Blessed Sacrament: Scope of "Solely for Educational Purposes" under Section 10(22)
Facts
of the CaseThe Respondent (Assessee), a
religious/charitable institution, operated approximately 16 schools, employing
over a thousand teachers and nuns, and providing education to thousands of
students. The As...
LG Electronics India Pvt. Ltd. vs. Commissioner of Income Tax: Scope of Discretion under Section 220(1) of the Income Tax Act, 1961
Facts
of the CaseThe petitioner, a limited company
engaged in the marketing and servicing of consumer electronics, filed its
income tax return for the assessment year 2002-2003. Following a scrutiny
assessment under ...
Adesh Tyagi & Anr. v. Assistant Commissioner of Income Tax: Withdrawal of Writ Petition with Liberty to Refile via General Power of Attorney (GPA) Holder under Article 226 of the Constitution of India
Facts of the CaseThe petitioners, Adesh Tyagi and another, filed writ petitions
[W.P.(C) 10200/2005 and W.P.(C) 10201/2005] against the Assistant Commissioner
of Income Tax. During the course of the hearing, a procedur...
Commissioner of Income Tax vs. M/S HUDCO Ltd.: Mere Unilateral Book Entries Cannot Constitute Accrual of Chargeable Interest Under the Interest Tax Act Where the Claim is Explicitly Rejected
Facts of the Case
Society
Membership: The respondent-assessee (M/S HUDCO Ltd.)
was a member of the India Habitat Centre (IHC), a society registered under
the Societies Registration Act.
Area
...
Commissioner of Income Tax, Delhi v. M/s Competent Automobiles Co. Ltd. (2005) | Section 271C & Section 273B of the Income Tax Act – Deletion of Penalty for Failure to Deduct TDS on Advance Rent Due to Reasonable Cause: A Non-Substantial Question of Law
Facts of the Case
The
Assessee (M/s Competent Automobiles Co. Ltd.) had paid an advance amount
of rent to its landlord.
The
Assessee failed to deduct Tax Deducted at Source (TDS) on the said advanc...
M/s Consortium Trading Co. vs Commissioner of Income Tax – Deduction of Vacation Charges and Fixtures Cost from Capital Gains under Sections 45 and 260A of the Income Tax Act, 1961
Facts of the CaseThe assessee, M/s Consortium Trading Co., a partnership firm
consisting of a father and son, purchased a property in Bombay on 1 February
1989. The property was let out to M/s Intercraft Ltd., a compan...