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Director of Income Tax vs. Sahara India Financial Corporation Ltd. [2010:DHC:1012-DB] – Whether Title Sponsorship Payment for Sahara Cup Constitutes Royalty under Article 13(3)(c) of the India-Canada DTAA
Facts of the Case
The
case related to Assessment Year 1998-99.
Sahara
India Financial Corporation Ltd. entered into an agreement dated
10.07.1996 with IMG Canada.
Under
the agreement, Sahara...
Director of Income Tax vs. Sahara India Financial Corporation Ltd. [2010:DHC:1012-DB] – Whether Title Sponsorship Payment for Sahara Cup Constitutes Royalty under Article 13(3)(c) of the India-Canada DTAA
Facts of the Case
The
case related to Assessment Year 1998-99.
Sahara
India Financial Corporation Ltd. entered into an agreement dated
10.07.1996 with IMG Canada.
Under
the agreement, Sahara...
Commissioner of Income Tax vs. Anil Kumar Sharma [2010:DHC:1138-DB] – Scope of Revision under Section 263 | Difference Between Lack of Inquiry and Inadequate Inquiry
Facts of the Case
The
assessee, Mr. Anil Kumar Sharma, filed his return of income for Assessment
Year 2003-04 on 25 November 2003 declaring total income of Rs.
1,64,06,770/-.
The
Assessing Off...
National Financial Reporting Authority v. Udayan Sen — Order under Section 132(4) of the Companies Act, 2013
Facts of the Case
SCN Issued: A Show Cause Notice (SCN)
was issued on 17 January 2020 to CA Udayan Sen under NFRA’s powers
under Section 132(4) of the Companies Act, 2013, asking him to show cause
w...
Commissioner of Income Tax vs. Forech India Ltd. [2010:DHC:1139-DB] – Deletion of Addition on Alleged Undisclosed Stock Found During Survey | Scope of Interference with Concurrent Findings of Fact under Section 260A
Facts of the Case
The
case related to Assessment Year 2000-01.
During
a survey conducted at the assessee's premises, the Revenue authorities
noticed a discrepancy between the physical stock availabl...
Van Oord ACZ India (P) Ltd. vs. Commissioner of Income Tax [2010:DHC:1511-DB] – Scope of Tax Deduction at Source under Section 195 and Disallowance under Section 40(a)(i) on Reimbursement to Non-Resident
Facts of the Case
The
assessee, Van Oord ACZ India (P) Ltd., was an Indian company and a wholly
owned subsidiary of Van Oord ACZ Marine Contractors BV, Netherlands
(VOAMC).
The
assessee was en...
Commissioner of Income Tax-III vs. Sutlej Industries Ltd. [2010:DHC:1500-DB] – Interest on Refund of Self-Assessment Tax under Section 244A(1)(b) of the Income Tax Act, 1961
Facts of the Case
The
assessee, Sutlej Industries Ltd., for Assessment Year 1998-99, had paid:
Tax
Deducted at Source (TDS),
Advance
Tax, and
Self-Assessment
Tax under Section 140...
Commissioner of Income Tax, Delhi-II vs. Leo Financial Services Ltd. [2010:DHC:1654-DB] – Scope of Revision under Section 263 in Dividend Stripping Cases and Payments Covered under Section 40A(2)(b)
Facts of the Case
The
assessee, Leo Financial Services Ltd., was assessed for Assessment Year
2001-02.
The
Commissioner of Income Tax passed a revision order under Section 263 of
the Income Ta...
Commissioner of Income Tax vs. Bhartesh Jain [2010] 2010:DHC:1885-DB (Delhi High Court) – Penalty under Section 271(1)(c) Cannot Be Levied Merely on Change of Treatment of Loss or Bona Fide Explanation for Cash Credits under Section 68
Facts of the Case
The
assessee claimed certain losses as business losses.
The
Assessing Officer recharacterized the same as speculation losses.
The
Assessing Officer also made additions under Sect...
Commissioner of Income Tax v. M/s Poddar Pigments Limited – Eligibility of Interest on Delayed Realisation of Sale Proceeds for Deduction under Section 80-IB and Scope of Reassessment Proceedings under the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe Revenue filed an appeal before the Delhi High Court
against the order of the Income Tax Appellate Tribunal relating to Assessment
Year 2002-03.During reassessment proceedings, the Assessing Officer...