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Commissioner of Income Tax vs. U.K. Bose & J.B. Roy – Perquisites Assessment, Interest Deduction & Section 17, 28, 10(13A), 57(iii) of Income Tax Act
Facts of the Case The Delhi High Court addressed appeals from the
Revenue challenging decisions of the Income Tax Appellate Tribunal (ITAT)
concerning the assessment of perquisites, rent exemptions, and inter...
Rural Electrification Corporation Ltd. vs. Commissioner of Income Tax (LTU) & Anr – Reopening of Assessment and Limitation under Sections 148, 149, 150 & 153 of the Income Tax Act, 1961
Facts of the Case
The
petitioner, Rural Electrification Corporation Ltd. (REC), is a public
financial institution engaged in providing finance for rural
electrification.
Notices
under Section ...
Sharp Business System vs Commissioner of Income Tax-III | Delhi High Court – Non-Compete Fee Paid for 7 Years Held as Capital Expenditure and Depreciation Denied under Sections 37(1) & 32 of Income Tax Act
Facts of the
CaseThe assessee, Sharp Business System, was
incorporated as a joint venture between Sharp Corporation, Japan and L&T
Ltd. The company was engaged in importing, marketing, and selling electronic
offi...
Super Cassettes Industries Ltd vs Dy. Commissioner of Income Tax – Delhi High Court, 2012 (Section-wise Income Tax Matters)
Facts of the
CaseThe petitioner, Super Cassettes Industries Ltd,
challenged the order of the Deputy Commissioner of Income Tax regarding
tax assessment. The petitioner approached the Delhi High Court seeking rel...
M/s GAIL India Limited vs Joint Commissioner of Income Tax | Deductibility of Upfront Lease Premium on Long-Term Land Lease under Sections 30 & 37 of the Income Tax Act, 1961 – Delhi High Court
Facts of the
CaseM/s GAIL India Limited, engaged in manufacturing
hydrocarbons and distribution of natural gas, entered into multiple lease
arrangements with municipal and statutory authorities for land required for i...
M/s GAIL India Limited vs Joint Commissioner of Income Tax | Delhi High Court | Whether Upfront Lease Premium Paid for Long-Term Lease of Land is Revenue Expenditure or Capital Expenditure under Sections 30 & 37 of the Income Tax Act, 1961
Facts of the
Case
The assessee, M/s GAIL India Limited, engaged in manufacturing
hydrocarbons and distribution of natural gas, entered into long-term lease
arrangements with local municipalities for land.
...
The Commissioner of Income Tax-XIII vs Sh. Kanwaljit Singh – Delhi High Court, Section 28(va) & Section 17(1), Non-Compete Agreement Income Classification
Facts of the
CaseSh. Kanwaljit Singh served as the General Sales
Agent for Uzbekistan Airways (Uzind Corporation), receiving a fixed salary of
₹1,32,000 per annum. In addition, a Non-Compete Agreement (NCA) da...
Commissioner of Income Tax, New Delhi vs Jaggon International Ltd | Whether Deep Sea Matdrill Qualifies as a Ship under Section 115VD for Tonnage Tax Scheme under Income Tax Act, 1961
Facts of the
Case
The assessee opted for the Tonnage Tax Scheme under Chapter XII-G,
specifically under Sections 115VP and 115VR of the Income Tax Act, 1961.
The assessee owned vessels used in drilling operati...
The Commissioner of Income Tax-XIII vs. Sh. Kanwaljit Singh | Delhi High Court | ITA 607/2010 & 921/2010 | Section 143 & 147
Fact of the caseThe appeals before the Delhi High Court involve
assessments under the Income Tax Act. The Commissioner of Income Tax-XIII
(Appellant) challenged the order passed by the Income Tax authorities against
S...
Commissioner of Income Tax vs Youth Construction Pvt. Ltd. – Section 68 Share Application Money Accommodation Entries, Identity, Creditworthiness & Genuineness of Transactions | Delhi High Court
Facts of the
CaseThe assessee-company filed its return for
Assessment Year 2000–01 declaring income of Rs.41,180, which was initially
processed under Section 143(1). Subsequently, the Assessing Officer received
inf...