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Commissioner of Income Tax vs. Raghvi Finance Ltd.: Section 68 Addition for Unexplained Share Capital Deleted Where Identity of Corporate Applicants and Transaction Genuineness Are Proved via Account Payee Cheques
Facts of the CaseThe Revenue filed an appeal under Section 260A of the Income
Tax Act, 1961, challenging the order dated September 3, 2009, passed by the
Income Tax Appellate Tribunal (ITAT) for the Assessment Year 200...
Commissioner of Income Tax v. Lakhbir Singh (HUF) & Connected Assessees (Delhi High Court) – Mandatory Recording of Satisfaction under Section 158BD Before Initiating Block Assessment Proceedings
Facts of the
CaseA search under Section 132 of the Income-tax Act
was conducted in the case of Manoj Aggarwal and related premises. During the
search, various documents and materials were seized. The assessment of the...
Commissioner of Income Tax vs M/s Nestle India Ltd.: Deductibility of Royalty Payments under Sections 37, 40A(2) & 92 of the Income Tax Act, 1961
Facts of the Case
M/s
Nestle India Ltd., engaged in manufacturing and marketing of food and
beverages, paid royalty/technical assistance fees to two foreign
subsidiaries (Nestec S.A. and Societe Des P...
Assessee v. Commissioner of Income Tax | Delhi High Court | Whether Commission Received from Property Occupation is Taxable as Business Income or Income from House Property under Sections 22 & 260A of the Income-tax Act
Facts of the Case
The
assessees were co-owners of the basement portion of Property No. B-1/8,
Pusa Road, New Delhi.
The
property had been purchased from the previous owners, namely Mr. Bhupinder
...
Commissioner of Income Tax v. Smt. Kuldeep Kaur & Connected Cases | Recording of Satisfaction under Section 158BD Mandatory for Block Assessment | Delhi High Court
Facts of the CaseA search and seizure operation under Sections 132
and 132A of the Income-tax Act was conducted in the case of Manoj Aggarwal.
During the search, various documents and materials were seized.Subsequently...
Commissioner of Income Tax v. Sukesh Kumar Gupta & Connected Assessees (Delhi High Court) – Mandatory Recording of Satisfaction under Section 158BD Before Initiation of Block Assessment Proceedings
Facts of the CaseA search under Section 132 of the Income-tax Act
was conducted at the premises of Manoj Aggarwal. During the search, various
documents and materials were seized. While completing the block assessment o...
National Financial Reporting Authority (NFRA) vs CA Pawan Jain (Partner, Kumar Jain & Associates) | Professional Misconduct in Form 10DA Certification for Quess Corp Ltd under Section 80JJAA of Income Tax Act
Facts of the CaseThe Director General of Income Tax (Investigation),
Bengaluru, shared information regarding irregularities in deductions claimed by
Quess Corp Ltd under Section 80JJAA of the Income Tax Act amounting t...
Commissioner of Income Tax–III v. Sadhu Forging Ltd. | Deduction under Section 80IB on Scrap Sales and Job Work/Labour Charges Derived from Manufacturing Activity
Facts of the
CaseThe assessee, Sadhu Forging Ltd., was engaged in
the manufacture of steel forgings, transmission gears, and motor vehicle parts
and accessories. During Assessment Year 2004-05, apart from sales of
ma...
National Financial Reporting Authority (NFRA) vs CA Pankaj Kumar (Engagement Partner of SRS Real Infrastructure Limited) | Professional Misconduct in Statutory Audit under Companies Act, 2013
Facts of the CaseThe National Financial Reporting Authority (NFRA)
initiated proceedings against CA Pankaj Kumar, Engagement Partner (EP), who
conducted the statutory audit of SRS Real Infrastructure Limited (SRS...
Astra Housing & Investment Pvt. Ltd. vs Commissioner of Income Tax | Delhi High Court Upholds Penalty for Furnishing Inaccurate Particulars of Income under Section 271(1)(c) of the Income-tax Act
Facts of the
CaseA search and seizure operation was conducted at the
premises of the assessee company and its Director, Shri Rajiv Bhatia. During
the search, several documents, including Annexures A-2, A-3 and A-10, w...