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National Thermal Power Corpn. Ltd. vs. Commissioner of Income Tax – Depreciation on Capital Construction Equipment under Section 32 of Income Tax Act, 1961
Facts of the
CaseThe petitioner, National Thermal Power
Corporation Ltd., incorporated on 7th November 1975 as a public sector
undertaking, was engaged in the development of thermal power stations,
including construc...
Travelport Global Distribution System BV (Earlier Known as Galileo Nederland) vs Assistant Director of Income Tax, Circle-1(2) & Anr. Delhi High Court | W.P.(C) Nos. 658/2015, 660/2015, 662/2015 & 663/2015 | Decision Date: 08 October 2015
Facts of the
Case
The petitioner was subjected to income tax assessment proceedings
for multiple assessment years.
The Income Tax Appellate Tribunal had passed an order on 29.06.2012
regarding attributi...
The Commissioner of Income Tax-II vs Maruti Suzuki India Ltd.: Legality of Reassessment under Section 147 of the Income Tax Act, 1961
Facts of the
Case:
Maruti Suzuki India Ltd. filed its original income tax return for
A.Y. 1998-99 on 30.11.1998 and revised it on 29.03.2000. Regular
assessment was completed on 30.03.2001.
The Assessin...
Commissioner of Income Tax Delhi IV vs Goyal M.G. Gases Pvt. Ltd.: Penalty under Section 271(1)(c) for Bogus Depreciation Claims
Facts of the
Case:The assessee, Goyal M.G. Gases Pvt. Ltd., declared
an income of Rs. 23,74,987/- for A.Y. 1989-90. The Assessing Officer (AO)
assessed income at Rs. 11,24,84,725/-, disallowing depreciation of Rs.
37...
Oracle Systems Corporation vs Assistant Director of Income Tax, Circle 2(1), International Taxation, New Delhi (Delhi High Court) | Reopening of Assessment under Sections 147/148 on Mere Change of Opinion Not Sustainable
Facts of the CaseThe petitioner,
Oracle Systems Corporation, a company incorporated in the United States, was
engaged in the business of software supply and replication. For Assessment
Years 2002-03 and 2003-04, the A...
PHD Chamber of Commerce & Industry vs. Director of Income Tax-Exemptions – Applicability of Section 11(4A) and Charitable Exemption
Facts of the Case:
The appeals pertain to assessment years 2006-07 and 2007-08. The appellant, PHD
Chamber of Commerce & Industry, established in 1909, was registered
under Section 12A of the Income Tax Act, 1961,...
Turner Broadcasting Systems Asia Pacific Inc. vs Deputy Director of Income Tax (Delhi High Court) | Reassessment under Sections 147/148 Quashed on Ground of Change of Opinion
Facts of the
CaseThe petitioner, Turner Broadcasting Systems Asia
Pacific Inc., was engaged in granting exclusive rights to Turner International
India Pvt. Ltd. for advertisement sales and distribution of television a...
Shumana Sen Vs Commissioner of Income Tax XIV & Ors – Delhi High Court, Section 148/147 Reassessment Proceedings
Facts of the
Case
The petitioner, Shumana Sen, an officer of the Indian
Revenue Service (IRS) 1987 batch, challenged the reassessment proceedings
initiated under Section 148 of the Income Tax Act, 1961 for...
PHD Chamber of Commerce & Industry vs. Director of Income Tax – Applicability of Section 11(4A) on Charitable Status of Trade Associations
Facts of the Case:
The appeals relate to assessment years 2006-07 and 2007-08 filed by PHD
Chamber of Commerce & Industry, established in 1909 and incorporated in
1951. The Chamber is registered under Section 12A ...
The Commissioner of Income Tax vs RBG Investment & Finance Ltd. – Allocation of Interest Expenditure Under Section 36(1)(iii) of the Income Tax Act
Facts of the
Case:RBG Investment & Finance Ltd. (the assessee)
engaged in finance and investment activities, earned income both from share
dealing and loans/advances. The Assessing Officer (AO) bifurcated interest...