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Commissioner of Income Tax vs Assessee – Rectification under Section 154 for Deduction Computation under Sections 80HHC and 80IB | Delhi High Court
Facts of the CaseThe Assessing Officer originally allowed deductions claimed by
the assessee under both Section 80HHC and Section 80IB of the
Income Tax Act.Subsequently, the Assessing Officer invoked Section 154
and ...
Commissioner of Income Tax vs. M/s Vasisth Chay Vyapar Ltd. | Delhi High Court | Section 145 & Section 45Q RBI Act | Taxability of Interest on Non-Performing Assets (NPAs)
Facts of the
Case
The assessee, M/s Vasisth Chay Vyapar Ltd., was a Non-Banking
Financial Company (NBFC).
The assessee had advanced Inter-Corporate Deposits (ICDs) to Shaw
Wallace & Company.
Intere...
Mohit Singh v. Assistant Commissioner of Income Tax & Another | Interest on Delayed Refund of Seized Cash under Sections 132 & 132B of the Income Tax Act, 1961 | Delhi High Court
Facts of the Case
A
search and seizure operation was conducted at the residential premises of
the petitioner under Section 132 of the Income Tax Act, 1961.
During
the search, cash amounting to...
Parivar Seva Sanstha vs Director of Income Tax (Exemption) | Delhi High Court | Section 11 & Section 13(1)(c) of the Income Tax Act, 1961 | Reasonableness of Salary Paid to Specified Persons by Charitable Institutions
Facts of the Case
The assessee, Parivar Seva Sanstha, is a society registered under
the Societies Registration Act, 1860.
The society was registered under Section 12A of the Income Tax Act
and was e...
M/s Parivar Seva Sanstha v. Director of Income Tax (Exemption) – Whether Salary Paid to a Specified Person Can Lead to Denial of Exemption under Sections 11 and 13 of the Income-tax Act, 1961 | Delhi High Court
Facts of the
CaseThe assessee, M/s Parivar Seva Sanstha, is a
society registered under the Societies Registration Act, 1860 and engaged in
charitable activities relating to family planning, maternal health, and ...
M/s Parivar Seva Sanstha vs Director of Income Tax (Exemption) – Reasonableness of Salary Paid to Specified Persons and Denial of Exemption under Sections 11 & 13 of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe assessee, M/s Parivar Seva Sanstha, is a
society registered under the Societies Registration Act, 1860 and engaged in
charitable activities relating to family planning, maternal healthcare, and
ch...
M/s Parivar Seva Sanstha vs Director of Income Tax (Exemption) | Delhi High Court | Section 11 & Section 13(1)(c) Read with Section 13(3) of the Income-tax Act, 1961 | Reasonableness of Salary Paid to Specified Persons by Charitable Trust
Facts of the
CaseThe assessee, Parivar Seva Sanstha, was a
society registered under the Societies Registration Act, 1860 and engaged in
charitable activities relating to family planning, maternal health, and child
he...
Commissioner of Income Tax vs A.T. Invofin India (P) Ltd. & Connected Matters | Delhi High Court | Section 158BB of the Income-tax Act, 1961 | Undisclosed Income in Block Assessment after Search
Facts of the CaseA search and seizure operation under the Income-tax
Act was conducted on 13 January 2000 in the Shyam Telecom Group of Companies,
to which the respondent-assessees belonged. Although there was no speci...
Commissioner of Income Tax vs. M/s Great Eastern Exports — Dismissal of Revenue's Appeals on Identical Questions of Law Covered by Prior Precedent Under Section 260A of the Income Tax Act
Facts of the CaseThe Revenue preferred statutory appeals (registered as ITA No.
1048/2010 and ITA No. 1050/2010) before the Hon’ble High Court of Delhi. The
disputes arose from the appellate orders of the Income Tax ...
Commissioner of Income Tax v. Vasisth Chay Vyapar Ltd. (Delhi High Court) – Taxability of Interest on Non-Performing Assets (NPA) of NBFCs under the Income-tax Act and RBI Prudential Norms
Facts of the Case
The assessee, M/s Vasisth Chay Vyapar Ltd., was a Non-Banking
Financial Company (NBFC).
It had advanced Inter-Corporate Deposits (ICDs) to M/s Shaw Wallace
Company.
Interest on the ICD...