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“Appellant vs. Assistant Commissioner of Income Tax – Section 260A Dismissal by Delhi High Court (ITA No. 701/2011)”
Facts of the CaseThe appellant filed an appeal under Section 260A of the
Income Tax Act against an order passed by the Income Tax Tribunal. The appeal
challenged the Tribunal’s order, seeking a review or reversal of ...
Director of Income Tax vs Brahmaputra Capital Financial Services Ltd. (2011) – Interest on NPA Loans of NBFC Not Taxable on Accrual Basis under Section 5 of
Facts of the CaseThe assessee, Brahmaputra Capital Financial
Services Ltd., a Non-Banking Financial Company (NBFC), had advanced loans
aggregating approximately ₹13.57 crores to certain group concerns. The loans
wer...
Income Tax Appellant ITA No. 89/2010, 938/2010, 1688/2010 & 610/2011 vs Income Tax Department – Delhi High Court Dismissal Based on Tax Effect Less Than ₹10 Lacs
Facts of the CaseThe appeals were filed before the Delhi High Court challenging
income tax assessments. The total tax effect involved in the appeals was less
than ₹10 lakhs.Issues Involved
Whether
appeals wit...
Commissioner of Income Tax vs. Interra Software India Pvt. Ltd. | Deductibility under Section 10A vs. Section 80HHE and Eligibility of Onsite Japan Branch Profits for Software Export Exemption under the Income Tax Act
Facts of the Case
The
Assessee, M/s Interra Software India Pvt. Ltd., is a 100% Export-Oriented
Unit (EOU) engaged in the business of development and export of computer
software through its designated...
Assessee vs. Income Tax Officer: Delhi High Court Decision on Disallowance of Installation Expenses, Bad Debts & Penalty under Section 271(1)(c) of Income Tax Act, 1961– ITA Nos. 1983/2010 & 1921/2010
Facts of the CaseThe assessee, in its Income Tax Returns for the Assessment
Year 2001-02, claimed deductions for certain installation expenses and bad
debts by debiting them to the Profit & Loss Account. The Assess...
Commissioner of Income Tax vs. ECE Industries Limited: Taxability of Capital Gains on the Composite Transfer of a Business Division—Applicability of Section 50 vs. Section 45 and Section 48 regarding Slump Sale of an Undertaking as a Going Concern
Facts of the Case
Assessee's
Return: For the Assessment Years 1999-2000 and
2000-01, the respondent-assessee (ECE Industries Limited) filed its return
of income.
The
Transaction: During the r...
M/s J.K. Synthetics Ltd. vs Commissioner of Income Tax (Delhi High Court) – Deductibility of Guest House Expenses, Abandoned Project Expenditure, Foreign Travel Expenses, Retainership Fees and Interest Liability under the Income-tax Act, 1961
Facts of the Case
The assessee, M/s J.K. Synthetics Ltd., claimed various deductions
and allowances while computing its taxable income for Assessment Year
1984-85.
The Income Tax Appellate Tribunal (ITAT)...
Dy. Commissioner of Income Tax vs M/s. Insilco Ltd. – Deduction of Bad Debts under Sections 36(1)(vii) & 36(2) of the Income Tax Act, 1961
Facts of the CaseThe appeal was filed by the Revenue under Section 260A
of the Income Tax Act, 1961, against the Tribunal’s order regarding the assessment
year 2004-05. The assessee, M/s. Insilco Ltd., claimed bad de...
Halcrow Consulting India Pvt Ltd vs Commissioner of Income Tax-IV & Ors | Refund Application Delay – Delhi High Court
Facts of the CaseThe petitioner, Halcrow Consulting India Pvt Ltd, filed
applications for a refund from the Income Tax authorities. Despite submitting
their representation, the petitioner’s requests had not been addr...
Commissioner of Income Tax v. M/s J.K. Synthetics Ltd. | Delhi High Court | Revenue vs Assessee on Revenue vs Capital Expenditure, Interest on Borrowed Funds for Share Investments, Cops Deposit Write-Back & Business Expenditure under Sections 36(1)(iii) and 37 of the Income-tax Ac
Facs of the Case
The assessee, M/s J.K. Synthetics Ltd., was engaged in the business
of manufacturing and dealing in yarn.
During Assessment Year 1984-85, the assessee claimed deductions
relating to:
...