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Commissioner of Income Tax vs. M/S Caparo Maruti Ltd. (2005): Penalty Under Section 271(1)(c) Not Maintainable on Loss Returns, Debatable Pre-Operative Expense Adjustments, or Lack of AO's Recorded Satisfaction
Facts of the Case
The
Assessee (M/S Caparo Maruti Ltd.) filed its return of income on
November 28, 1996, declaring a loss return.
In
the return, the Assessee claimed a set-off of its interest incom...
Director of Income Tax (Exemption) Vs. Daulat Ram Education Society: Exemption Under Section 11(2) Involving Plurality of Charitable Purposes
Facts
of the Case·
The assessee, Daulat Ram Education
Society, accumulated its unspent income and claimed exemption benefits under
Section 11 of the Income Tax Act.
Â...
The Commissioner of Income Tax vs M/s Unipatch Rubber Ltd. – Deduction of Excise Duty on Unsold Closing Stock under Section 43B of the Income Tax Act, 1961
Facts of the CaseThe Revenue challenged the order of the Income Tax Appellate
Tribunal, Delhi Bench "C", relating to Assessment Year 1997-98. The
dispute concerned the allowability of deduction of excise duty paid by t...
Shahid Atiq vs. Commissioner of Income Tax: Delhi High Court Decides Whether Reassessment Proceedings Under Section 148 Are Rendered Null and Void Due to Non-Service of Statutory Notice on All Legal Representatives of a Deceased Assessee
Facts of the CaseThe deceased assessee, late S.H. Atiquer Rehman, filed his
income tax returns for the Assessment Years (AY) 1992-93 and 1993-94, which
were initially processed under Section 143(1A) of the Income Tax A...
Commissioner of Income Tax v. Dabur India Ltd. (2005) – Supply of Printed Corrugated Boxes Constitutes Sale of Goods and Not a Works Contract under Section 194C of the Income-tax Act
Facts of the
CaseDabur India Ltd. procured corrugated boxes from
suppliers for packing its products. These boxes contained printed labels and
specifications as required by the assessee.The Revenue authorities to...
Commissioner of Income Tax vs M/s Bacardi Martini India Ltd. – Penalty for Concealment of Income and Furnishing Inaccurate Particulars under Section 271(1)(c) of the Income Tax Act, 1961
Facts of the CaseM/s Bacardi Martini India Ltd. filed its original return
declaring a substantial loss. Subsequently, it filed a revised return reducing
the loss claimed. During assessment proceedings, the Assessing Of...
Landmark Judgment on Section 148 Reassessment: Whether the Non-Service of Notice to All Legal Representatives of a Deceased Assessee Renders the Entire Assessment Proceedings Void Ab Initio or Constitutes a Mere Curable Irregularity — A Comprehensive Legal Analysis of Shahid Atiq vs. Commissioner of Income Tax
Facts of the Case
Initial
Tax Returns Filed by Deceased: The deceased assessee, late
S.H. Atiquer Rehman, had originally filed his voluntary income tax returns
for the assessment years 1992-93 and 199...
CIT v. Bharat Gears Ltd. (ITA Nos. 743, 745, 746, 747 & 748 of 2005) – Delhi High Court | Remand of Matter to ITAT for Fresh Hearing on Merits
Facts of the CaseThe Revenue filed multiple appeals before the Delhi
High Court against a common order dated 29 December 2004 passed by the Income
Tax Appellate Tribunal (ITAT), Delhi, relating to Assessment Year...
Director of Income Tax vs Guru Nanak Foundation (ITA No. 679/2005) – Section 11(2) Registration for Accumulated Income Utilized for Purchase of Land for Educational Purposes | Delhi High Court
Facts of the CaseGuru Nanak Foundation, a charitable institution,
sought the benefit of accumulation of income under Section 11(2) of the
Income-tax Act, 1961. The accumulated amount was intended to be utilized for
th...
Indo Pollycoats (P) Ltd. vs. Commissioner of Income Tax: Computation of Deductions Under Chapter VI-A is Packaged with Net Income After Business Losses, Depreciation, and Development Rebate
Facts of the Case
The
appellant, M/s Indo Pollycoats (P) Ltd., claimed deductions under Chapter
VI-A (specifically under Section 80I) of the Income Tax Act, 1961.
The
Income Tax Appellate Tribunal ...