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Commissioner of Income Tax vs. M/s. Nalwa Investments Ltd. – Legality of Set-Off of Brought Forward Business Losses Against Dividend Income under Section 72 and Section 56 of Income Tax Act
Facts of the Case
The
assessee, M/s. Nalwa Investments Ltd., a non-banking finance
company, earned dividend income of ₹44,51,317/- and claimed it as business
income to set off against previous years...
Commissioner of Income Tax v. Gulshan Kumar Luthra & Connected Assessees (2011) – Recording of Satisfaction under Section 158BD of the Income Tax Act
Facts of the CaseThe Revenue preferred a batch of appeals under Section 260A
of the Income Tax Act arising from block assessment proceedings initiated
against various assessees under Section 158BD.The controversy...
Commissioner of Income Tax vs. Centitech India Pvt. Ltd.: Section 37 Royalty Paid for Technical Assistance Upheld as Revenue Expenditure Based on Consistency Principle
Facts of the CaseThe Revenue preferred two connected appeals under Section 260A
of the Income Tax Act, 1961, challenging the consolidated order dated April 22,
2009, passed by the Income Tax Appellate Tribunal (ITAT), ...
Dinesh Kumar Goel vs Commissioner of Income Tax – Disallowance of Advertisement and Printing Expenses under Section 37 & Chapter XIV-B of Income Tax Act, 1961
Facts of the Case:The assessee, Sh. Dinesh Kumar Goel, filed his income
tax return for Assessment Year 1997-98 declaring a total income of ₹3,42,621,
claiming deductions for advertisement expenditure of ₹1,00,36,97...
The Commissioner of Income Tax XIII v. Radhey Shyam Bansal & Connected Matters (Delhi High Court, 30 May 2011) concerning Section 158BD of the Income-tax Act, 1961, the following SEO-optimized case law blog format is prepared.
FACTS OF THE CASEA search and seizure operation under Section 132 of the
Income-tax Act was conducted at the premises of Manoj Aggarwal on 30.08.2000.
During the search, various documents and diaries were seized. Based...
Commissioner of Income Tax v. S.P. Bhagat and Sons HUF & Connected Matters: Mandatory Recording of Satisfaction under Section 158BD of the Income Tax Act
Facts of the CaseThe present batch of appeals arose from search and seizure
proceedings conducted under Section 132 of the Income Tax Act. During the
course of search operations conducted in the case of Manoj Aggarwal,...
Director of Income Tax vs. M/s. Jacabs Civil Incorporated (and M/s. Mitsubishi Corporation): Section 234B Interest Cannot Be Charged from Non-Resident Assessees Where 100% Tax is Deductible at Source by Payer
Facts of the CaseThe Revenue filed a batch of appeals under Section 260A of the
Income Tax Act, 1961, challenging the orders of the Income Tax Appellate
Tribunal (ITAT) which deleted interest levied under Section 234B ...
Commissioner of Income Tax v. Radhey Shyam Bansal | Mandatory Satisfaction Note Under Section 158BD Before Initiating Block Assessment – Delhi High Court
Facts of the CaseA search and seizure operation under Section 132 of the
Income-tax Act was conducted in the case of Manoj Aggarwal. During the course
of the search, certain materials were allegedly found indicating th...
Commissioner of Income Tax v. Radhey Shyam Bansal & Connected Matters | Mandatory Recording of Satisfaction under Section 158BD Before Block Assessment Proceedings
Facts of the CaseA search and seizure operation under Section 132 of the
Income Tax Act was conducted in the case of Manoj Aggarwal. During the course
of the search, various documents and materials were seized.Subseque...
Commissioner of Income Tax vs. M/S. Sidh Vinayak Development Pvt. Ltd.: Section 68 Cash Credit Addition for Loans Deleted Where Assessee Proved PAN, Confirmations, and Bank Records
Facts of the CaseThe Revenue preferred an appeal under Section 260A of the
Income Tax Act, 1961, contesting the order dated November 13, 2009, passed by
the Income Tax Appellate Tribunal (ITAT) in ITA No. 187/Del/2009 ...