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Commissioner of Income Tax vs M/S M.S. International Ltd. & Ors.: Deduction under Section 80HHC vs Income Tax Authorities
Facts of the
Case
The appellants, Commissioner of Income Tax (CIT), challenged
deductions claimed by the respondents (M/S M.S. International Ltd., M.S.
Shoes East Ltd., Pearl Intercontinental Ltd.) under S...
Delhi High Court Upholds Deduction Under Section 80HHC of the Income Tax Act for Genuine Export Transactions
Facts of the
Case:
The assessees were export-oriented companies claiming deductions
under Section 80HHC for the export of synthetic rubber sole sheets to Taj
Al Khaleej General Trading Co., Dubai.
The a...
PR. Commissioner of Income Tax (Central-2) vs. M/s Mevron Projects Pvt. Ltd. (ITA Nos. 745, 746, 748, 749, 750 of 2015) - Validity of Assessment under Section 153C Following Amalgamation
Facts of the
CaseThe Revenue filed five appeals against a common
order by the Income Tax Appellate Tribunal (ITAT) dated 20th February 2015, for
the Assessment Years (AYs) 2003-04, 2005-05, 2006-07, 2007-08, and 2008-...
Assessment of Income Tax Liability on Respondent’s Income – ITA 583/2010 (Commissioner of Income Tax vs. Urmila Lodhi)
Facts of the
Case
The respondent, Urmila Lodhi, was assessed by the Income Tax
Department.
The assessment involved the determination of her taxable income and
applicable deductions.
The Commissioner ...
Revenue Appeals Against Deletion of Undisclosed Income in Block Assessment – Application of Section 132, 158BC, 69A, and 292C of the Income Tax Act, 1961
Facts of the
Case:
ITA No. 1132/2007 – M/s
Sonal Constructions:
Block search under Section 132 on 17.12.1999; notice under Section
158BC issued for 01.04.1989 to 17.12.1999.
Block return file...
THE COMMISSIONER OF INCOME TAX-III vs TONY ELECTRONICS LIMITED ITA 633/2010 & ITA 1053/2010 - Deduction Under Sections 80HH, 80IA, and Depreciation Issues
Facts of the
Case:The Income Tax Department (Appellant) filed appeals
against the order passed by the Income Tax Appellate Tribunal (ITAT) on 17th
July 2009 for the Assessment Year (AY) 1996-97. The disputes centered ...
Deduction Eligibility under Sections 80HHB & 80HHBA for Engineering Consultancy in Foreign and World Bank-Aided Projects – Delhi High Court Decision
Facts of the
Case:
The assessee declared income of 2,83,46,223/-
and claimed deductions of 70,52,819/- under Section
80HHBA and `1,33,54,593/- under Section 80HHB.
The Assessing Officer contended that t...
Commissioner of Income Tax-VI v. M/s Unitech Ltd. - Interpretation of Section 80AC of the Income Tax Act - Jurisdiction under Section 263 – Appeal Dismisse
Facts of the
Case:The Assessee, M/s Unitech Ltd., filed its income
tax return for the assessment year (AY) 2008-09 on 2nd April 2009, claiming a
deduction under Section 80IB(10). However, the Assessing Officer allowed...
Commissioner of Income Tax, Delhi vs. J.B. Roy & Others – Deduction of Interest on Borrowed Funds for Investment in Unquoted Shares under Section 57(iii) of the Income Tax Act, 1961
Facts of the
Case
The assesses, including J.B. Roy, held positions in various Sahara
Group companies.
For AY 1994-1995, the assesses declared a loss of ₹50,54,928 under
"Income from Other Sources" rel...
Principal Commissioner of Income Tax–21 vs Universal Precision Screws | Delhi High Court | Section 10B Deduction on Scrap Sale, Foreign Exchange Fluctuation and FDR Interest
Facts of the
CaseThe assessee, Universal Precision Screws, was
engaged in the business of manufacturing and exporting fasteners and operated
as a 100% Export Oriented Unit (EOU). For Assessment Year 2009–10, the
as...