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Ex. Capt. Vikas Gupta v. Commissioner of Income Tax (Appeals)-XXX | Delhi High Court | Addition under Section 68 Deleted Where Housing Installments Were Paid Through Relatives’ Bank Account and Source Was Properly Explained
Facts of the Case
The
assessee, Ex. Capt. Vikas Gupta, was allotted a flat by U.P. Awas Vikas
Parishad, Vasundhara, Ghaziabad under the Armed Forces category in May
1999.
The
cost of the flat ...
Commissioner of Income Tax XIII vs. Veena Gupta & Connected Assessees (Delhi High Court) – Mandatory Recording of Satisfaction under Section 158BD Before Initiating Block Assessment Proceedings
Facts of the Case
A search and seizure operation under Section 132 of the Income-tax
Act was conducted in the case of Manoj Aggarwal on 30.08.2000.
During the search, various documents and materials were ...
Sanjay Ghai vs Deputy Commissioner of Income Tax & Others [Delhi High Court] – Section 179 of the Income Tax Act, 1961 | Director’s Liability for Tax Dues and Violation of Principles of Natural Justice
Facts of the
CaseThe petitioner, Mr. Sanjay Ghai, challenged an
order dated 14 November 2007 passed under Section 179 of the Income Tax Act,
1961 by the Assistant Commissioner of Income Tax.The Income Tax Department c...
Commissioner of Income Tax v. Securities Brokers of India Ltd. | Delhi High Court on Mandatory Satisfaction under Section 158BD of the Income Tax Act, 1961 CIT v. Securities Brokers of India Ltd. (2011) – Delhi High Court Clarifies Recording of Satisfaction under Section 158BD Before Block Assessment Proceedings
Facts of the CaseA search operation under Section 132 of the Income
Tax Act was conducted in the case of Manoj Aggarwal. During the search, various
documents and materials were seized.The Assessing Officer handling the...
Commissioner of Income Tax v. Assessee – Delhi High Court Dismisses Revenue Appeal Due to Low Tax Effect Under CBDT Instruction No. 3/2011 | ITA No. 1107/2009
Facts of the
CaseThe Revenue preferred an appeal before the Delhi
High Court under the Income-tax Act. During the proceedings, it was brought to
the Court's notice that the tax effect involved in the appeal was below ...
Commissioner of Income Tax v. Assessee Partnership Firm | Change in Profit-Sharing Ratio Without Revised Partnership Deed – Assessment as AOP under Section 185 & Interest under Section 234D | Delhi High Court
Facts of the CaseThe case relates to
Assessment Year 2003-04. In earlier years, the assessee had consistently filed
returns as a partnership firm along with the partnership deed and had been
assessed accordingly.Durin...
Commissioner of Income Tax v. Prasad and Co. Pvt. Ltd. | Satisfaction Note under Section 158BD Mandatory Before Initiating Block Assessment Proceedings – Delhi High Court
Facts of the CaseThe present batch of appeals arose from search and
seizure operations conducted under Sections 132 and 132A of the Income-tax Act,
1961. During the search proceedings conducted in the case of a searche...
M/s DLF Universal Ltd. vs Commissioner of Income Tax | Embezzlement Loss Allowability under Income Tax Act – Year of Deduction and Recoverability Test
Facts of the CaseThe assessee, M/s DLF Universal Ltd., claimed a loss of Rs.
2,08,774/- in its return for Assessment Year 1982-83 on account of embezzlement
committed by an employee posted at its Ahmedabad Branch.The A...
Hive Communication Pvt. Ltd. vs Commissioner of Income Tax (Delhi High Court) – Disallowance of Director’s Remuneration under Section 40A(2) Cannot Be Made Without Proving Excessiveness or Unreasonableness
Facts of the CaseHive Communication Pvt. Ltd. was engaged in the
business of advertising and media.For Assessment Year 2005-06, the company filed its
return declaring total income of ₹19,67,165. During assessment pro...
Commissioner of Income Tax v. Vyom Financial Services Pvt. Ltd. & Connected Matters – Recording of Satisfaction under Section 158BD Mandatory Before Initiating Block Assessment Proceedings
Facts of the
CaseA search and seizure operation under Section 132
was conducted on Manoj Aggarwal and related premises. During the course of the
search, certain materials were allegedly found indicating that several p...