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Commissioner of Income Tax v. Jai Maa Bhawani Overseas Pvt. Ltd. – Addition under Section 68 on Share Application Money Deleted Where Identity of Share Applicants Established | Delhi High Court
Facts of the CaseThe Assessing Officer made an addition of
₹42,60,000 under Section 68 of the Income Tax Act, 1961, treating the amount
received by the assessee company from 23 different companies as share
app...
Landmark Verdict on Satellite Transponder Leases: Deemed Income Accrual and the Scope of Royalty Under Section 9(1) of the Income Tax Act
Facts of the Case
The
Appellant: M/s Asia Satellite Telecommunications Co.
Ltd. (AsiaSat) is a non-resident company incorporated in Hong Kong. It
operates and provides private satellite communications...
Commissioner of Income Tax vs Ramsons Organics Ltd | Whether Cutting and Processing of Marble, Granite and Stone Amounts to Manufacture or Production for Deduction under Section 10B of the Income-tax Act, 1961 | Delhi High Court
Facts of the Case
The
appeal was filed by the Commissioner of Income Tax against the order dated
09.04.2009 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No.
2085/Del/2008 relating t...
Commissioner of Income Tax, Delhi II vs. M/s Mahindra Finlease Pvt. Ltd. (with M/s Mahindra Traders Pvt. Ltd.) Substantial Question of Law under Section 158BC and Section 158BD of the Income Tax Act, 1961: Validity of Protective Assessment Framework in Block Assessment Proceedings.
Facts of the Case
A
search and seizure operation under Section 132 of the Income Tax Act,
1961, was executed on June 20, 2000, targeting the residential and
business premises of Shri P.K. Sood, ...
Commissioner of Income Tax vs. M/s Mediworld Publications Pvt. Ltd. | Section 28(va) vs. Capital Gains on Transfer of Intangible Assets
Facts
of the Case
The respondent/assessee, M/s
Mediworld Publications Pvt. Ltd., was incorporated in 1995 and engaged in
the business of healthcare, print media, and electronic media
communications (...
High Court Jurisprudence on Cash Credits: Proving Identity, Creditworthiness, and Genuineness under Section 68 of the Income Tax Act
Facts of the CaseThe High Court of Delhi adjudicated a batch of appeals (ITA
No. 2093/2010, 2094/2010, 2095/2010, 514/2007, and 539/2008) dealing with
additions made by the Assessing Officer (AO) under Section 68 of th...
CIT vs. Jaypee Hotels Ltd. | Depreciation on Golf Course: Hotel Building @20% vs. Plant @25% under Section 32 of Income Tax Act | Delhi High Court | 2011:DHC:14110-DB
Facts
of the Case
Context: The underlying dispute involves the appropriate rate of depreciation
to be claimed on a Golf Course managed by the respondent-assessee.
Assessing Officer's View: The Assessing Office...
Alcatel Lucent International vs Assistant Director of Income Tax & Others | Appeal Effect Orders Passed Beyond ITAT Directions Challenged – Delhi High Court Relegates Assessee to Statutory Appellate Remedy | 2010:DHC:2461-DB
Facts of the Case
The
petitioner, Alcatel Lucent International, filed writ petitions before the
Delhi High Court challenging orders passed by the Assessing Officer while
giving appeal effect to ...
Director of Income Tax vs. DSD Noell Gmbh (and DSD Industrieanlagen Gmbh) | Applicability of Deemed Profits under Section 44BBB of the Income Tax Act
FACTS OF THE CASE
The
respondents/assessees are German companies that set up Project Offices in
India in the year 2000 to provide engineering and technical services for
various projects.
These
...
Alcatel Lucent International vs Assistant Director of Income Tax & Others | Assessing Officer Cannot Exceed ITAT Directions While Giving Appeal Effect – Alternative Statutory Remedy Available
Facts of the Case
The
petitioner filed writ petitions before the Delhi High Court alleging that
the Assessing Officer, while implementing the orders of the Income Tax
Appellate Tribunal, travell...