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M/s Siddharth Export vs Assistant Commissioner of Income Tax (Delhi High Court) – Section 68 Unexplained Cash Credit & Section 260A Appeal Dismissed
Facts of the CaseThe assessee, a partnership firm engaged in export of
automobile spare parts, received unsecured loans:
₹26
lakhs (AY 2013–14)
₹87
lakhs (AY 2014–15)
These amounts were receiv...
Commissioner of Income Tax (LTU) vs SRF Limited – Appeal Dismissed on Low Tax Effect as per CBDT Circular No. 3/2018 | Delhi High Court
Facts of the CaseThe Revenue (Commissioner of Income Tax – LTU) filed appeals
before the Delhi High Court against the respondent, SRF Limited. The matter
pertained to tax disputes under the Income Tax Act.At the outs...
Gopal Das Estates & Housing Pvt. Ltd. vs Commissioner of Income Tax (Delhi High Court) – Compensation to Allottees Held as Revenue Expenditure under Section 37 & Section 260A of Income Tax Act
Facts of the
CaseThe assessee, engaged in construction and sale of
commercial space, developed a multi-storeyed building “Gopal Das Bhawan” in
Connaught Place, New Delhi. It followed the Completed Contract M...
J.M.D. Global Private Limited vs Pr. Commissioner of Income Tax-5 & Anr. (Delhi High Court, 2019) – Reopening of Assessment under Sections 147/148 on Basis of Accommodation Entries
Facts of the CaseThe petitioner, J.M.D. Global Private Limited, challenged
the validity of a reassessment notice issued under Section 148 of the Income
Tax Act for AY 2012–13.The reassessment was initiated on the bas...
Commissioner of Income Tax – LTU vs SRF Limited (Delhi High Court) – Appeal Dismissed Due to Low Tax Effect under CBDT Circular Section 260A of the Income Tax Act
Facts of the Case
The
Revenue (Commissioner of Income Tax – LTU) filed two appeals against SRF
Limited.
There
was a delay in re-filing the appeals, which was condoned by the Court.
At
th...
The Pr. Commissioner of Income Tax (Central-1) vs. Virender Kumar Bhatia | Section 260A r/w Sections 132, 158BC & 158BD Income Tax Act | Delhi High Court
Facts of the CaseThe Respondent-assessee, Virender Kumar Bhatia, had
incorporated M/s Baani Technologies Pvt. Ltd., which owned land measuring
approximately 2.36 acres in Wazirabad, Gurugram. Subsequently, during FY
2...
The Principal Commissioner of Income Tax–4 vs Housing & Urban Development Corporation Ltd (2019) – Section 254(2) Time Limitation Case
Facts of the Case
The
Revenue filed appeals against the respondent (assessee), Housing &
Urban Development Corporation Ltd.
The
dispute arose from orders passed by the ITAT under Section 254(2)...
Commissioner of Income Tax, Delhi vs Sunil Lamba (2019) – Taxability of Non-Compete Fee & Transfer of Self-Generated Trademark under Sections 263, 55(2), 28 & 47 of Income Tax Act
Facts of the
CaseThe case pertains to Assessment Year 1995–96, where
the assessee, Sunil Lamba, received:
₹1 crore as non-compete fee under an agreement with Brooke
Bond Lipton India Ltd.
₹1.85 c...
Director, Directorate of Income Tax (HRD) & Ors. vs Ramesh Dang & Ors. – Pay Parity Claim of Technical Assistants Rejected by Delhi High Court (2019:DHC:5719-DB)
Facts of the CaseThe petitioners (Directorate of Income Tax and Union
authorities) challenged the order of the Central Administrative Tribunal (CAT),
which had directed granting pay parity to Technical Assistants with
...
The Pr. Commissioner of Income Tax–4 vs Housing & Urban Development Corporation Ltd. (2019:DHC:7412-DB) | Section 254(2) IT Act – Time Limit for ITAT Rectification
Facts of the CaseThe present appeals were filed by the Revenue challenging
orders of the Income Tax Appellate Tribunal (ITAT). The core issue arose from
the Tribunal entertaining and deciding applications filed by the ...