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Principal Commissioner of Income Tax–7 vs Pavitra Commercial Ltd. | Delhi High Court on Capital Gains vs Business Income Classification and Taxability of Doubtful Interest Income under the Real Income Theory (Section 45, Section 28 & Section 145, Income Tax Act, 1961)
Facts of the CaseThe assessee, Pavitra Commercial Ltd., was engaged in
investment and securities business and maintained separate portfolios for stock-in-trade
and investment holdings. During the relevant assessment ye...
M/s Abhipra Capital Ltd. vs Deputy Commissioner of Income Tax (Investigation) – Delhi High Court | NSE Membership Fee Held as Capital Expenditure under Sections 37(1), 32(1)(ii), 2(14) & 260A of the Income Tax Act
Facts of the CaseThe appellant, M/s Abhipra Capital Ltd., was incorporated for
carrying on business in shares, stock markets, merchant banking, and financial
services. During the relevant assessment year, it acquired m...
M/s Abhipra Capital Ltd. vs Deputy Commissioner of Income Tax (Investigation) – NSE Membership Fee Held as Capital Expenditure under Sections 37(1), 32(1)(ii) & 2(14) of the Income Tax Act
Facts of the CaseThe assessee, M/s Abhipra Capital Ltd., was incorporated with
the principal object of carrying on business in shares, stock markets, merchant
banking and financial services. During Assessment Year 1996...
Pr. Commissioner of Income Tax-21 vs Dr. Vandana Gupta (Delhi High Court) – Penalty under Section 271(1)(c) on Voluntary Income Surrender after Survey under Section 133A of the Income Tax Act
Facts of the CaseThe assessee, a medical practitioner, originally filed her
income tax return declaring total income of ₹9,18,060. During the pendency of
assessment proceedings, the Revenue conducted a survey under S...
Commissioner of Income Tax vs. M/s Prasidh Leasing Ltd. | Delhi High Court | Deemed Dividend under Section 2(22)(e) of Income Tax Act, 1961 | Trade Advance vs Loan Classification
Facts of the CaseThe assessee, M/s Prasidh Leasing Ltd., had shown M/s Ginza
Industries Ltd. as a sundry creditor in its books, with substantial funds
advanced by Ginza for the alleged procurement of import licenses. T...
Meera Gupta vs Deputy Commissioner of Income Tax & Ors. | Delhi High Court on Maintainability of Writ Petition Against Section 153A Assessment Order When Statutory Appeal is Already Filed
Facts of the CaseThe petitioner challenged assessment orders passed under
Section 153A of the Income Tax Act before the Delhi High Court. The grievance
of the petitioner was that the assessment order was passed without...
Meera Gupta vs Deputy Commissioner of Income Tax Circle-20(1) & Ors. | Delhi High Court on Maintainability of Writ Petition Against Assessment Order under Section 153A of the Income Tax Act, 1961
Facts of the CaseThe petitioner challenged assessment orders passed under Section
153A of the Income Tax Act, 1961, contending that the assessment
proceedings were completed without providing sufficient opportunity of ...
Meera Gupta Vs. Deputy Commissioner of Income Tax Circle-20(1) & Ors. | Delhi High Court on Challenge to Assessment under Section 153A of the Income Tax Act and Maintainability of Writ Petition
Facts of the CaseThe petitioner challenged assessment orders passed under Section
153A of the Income Tax Act, 1961 before the Delhi High Court through
multiple writ petitions. During the hearing, it was admitted that t...
Convergys Customer Management Group Inc. vs Director of Income Tax (International Taxation) & Commissioner of Income Tax | Delhi High Court | Withdrawal of Tax Appeals pursuant to Mutual Agreement Procedure under Section 90 of the Income Tax Act read with Article 27 of Indo-US DTAA
Facts of the Case
The
assessee, Convergys Customer Management Group Inc., had instituted
multiple appeals before the Delhi High Court concerning international
taxation disputes for several assessment ...
Convergys Customer Management Group Inc. vs Director of Income Tax (International Taxation) & Commissioner of Income Tax | Delhi High Court | Withdrawal of Tax Appeals pursuant to Mutual Agreement Procedure under Section 90 of the Income Tax Act read with Article 27 of Indo-US DTAA
Facts of the Case
The
assessee, Convergys Customer Management Group Inc., had instituted
multiple appeals before the Delhi High Court concerning international
taxation disputes for several assessment ...