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The Commissioner of Income Tax-IV, New Delhi vs. G4S Security Systems (India) Pvt. Ltd. [Delhi High Court] – Royalty for Technical Know-How and Trademark Usage Held as Revenue Expenditure under Section 37(1) of the Income-tax Act
Facts of the
CaseG4S Security Systems (India) Pvt. Ltd., engaged in
the business of providing security guard services, software development, and
staff training, entered into a licensing arrangement for the use of trad...
M/s Jagatjit Industries Ltd. v. Commissioner of Income Tax [2010:DHC:4333-DB] – Rental Income from Property Held Without Registered Sale Deed Taxable as “Income from House Property” and Not “Income from Other Sources”
Facts of the CaseThe assessee, M/s Jagatjit Industries Ltd., disclosed rental
income received from certain flats situated at Ashoka Estates, Barakhamba Road
and Bhandari House, Nehru Place, New Delhi for Assessment Yea...
National Agricultural Co-Operative Marketing Federation of India Ltd. (NAFED) vs Commissioner of Income Tax | Delhi High Court | Interest on Arbitration Award Liability Deduction under Income Tax Act
Facts of the
CaseThe assessee, National Agricultural Co-Operative
Marketing Federation of India Ltd. (NAFED), entered into an agreement with
Alimenta S.A., Switzerland, for export of 5,000 metric tonnes of HPS groundn...
Commissioner of Income Tax vs M/s National Travel Services | Section 2(22)(e) of the Income Tax Act – Deemed Dividend in Case of Partnership Firm Holding Beneficial Interest in Shares
Facts of the
Case
M/s National Travel Services was a partnership firm.
The firm had obtained a loan/advance from M/s Jetair Pvt. Ltd., a
closely held company.
The partners of the assessee firm held shares in...
Commissioner of Income Tax vs Eastern Medikit Ltd. | Section 263 Revision for Lack of Inquiry and Deduction under Section 80IB – Delhi High Court
Facts of the CaseEastern Medikit Ltd. filed its return of income for
Assessment Year 2005-06 and claimed deduction under Section 80IB of the Income
Tax Act. The audit report in Form No. 10CCB stated that the unde...
Astra Housing & Investment Pvt. Ltd. vs. Commissioner of Income Tax, Delhi-I [2010:DHC:10949-DB] – Addition under Section 158BC of the Income-tax Act on Unexplained Expenditure and Imprest Account Transactions Upheld by Delhi High Court
Facts of the Case• A search and seizure operation was conducted on 04.04.2000
at the premises of Astra Housing & Investment Pvt. Ltd. and the residential
premises of its Director, Shri Rajiv Bhatia.• During the...
All Grow Finance and Investment Pvt. Ltd. vs Commissioner of Income Tax (Delhi High Court) – Allowability of Bad Debts by NBFC under Sections 36(1)(vii) and 36(2) of the Income-tax Act, 1961
Facts
of the CaseThe assessee, All Grow Finance
and Investment Pvt. Ltd., was a Non-Banking Financial Company engaged in the
business of money lending and earning interest income.The assessee had advanced Rs. 60
lakh...
Commissioner of Income Tax vs Charitable Trust (Assessee) | Section 11, Section 12A, Section 68 & Section 148 of the Income Tax Act – Donation Cannot Be Treated as Accommodation Entry Without Evidence
Facts of the
CaseThe assessee was a charitable organization
registered under Section 12A of the Income Tax Act and claimed exemption under
Section 11. It filed its return declaring Nil income, and the assessment was
...
Commissioner of Income Tax vs. Continental Engines Ltd. – Eligibility of Section 10B Deduction for Export Oriented Unit Engaged in Manufacturing Through Job Work | Delhi High Court
Facts
of the CaseThe assessee company was engaged
in the manufacture and export of machined aluminium cylinder heads, cylinder
blocks, dies, moulds, manifolds and related products.For Assessment Year 2003-04, the
ass...
Commissioner of Income Tax vs Association of Financial Planners | Exemption under Section 10(23C)(iiiad) for Educational Institution Conducted Through a Trust – Delhi High Court
Facts of the
Case
The assessee filed returns for Assessment Years 2002-03 and 2003-04
declaring nil income and claiming exemption under Section 11 of the
Income-tax Act.
The assessee was a society regist...