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Turner Broadcasting Systems Asia Pacific Inc. vs Deputy Director of Income Tax (Delhi High Court) – Reassessment u/s 147/148 Invalid on Mere Change of Opinion | Sections 143(3), 147, 148 & 115A Income Tax Act
Facts of the
CaseThe petitioner, Turner Broadcasting Systems Asia
Pacific Inc. (formerly Turner Entertainment Network Asia Inc.), a tax resident
of the USA, derived revenue from India through grant of exclusive rights...
Thomson Press (India) Ltd. vs Commissioner of Income Tax-II (Delhi High Court, 2015) – Section 10A & 263 of the Income Tax Act
Facts of the Case:
The
Assessee, Thomson Press (India) Ltd., operated multiple industrial
undertakings, including NEPZ, Noida, qualifying for exemption under
Section 10A of the Income Tax Act.
Inte...
Thomson Press (India) Ltd. vs Commissioner of Income Tax-II (Delhi High Court, 2015) – Section 10A & 263 of the Income Tax Act
Facts of the Case:
The
Assessee, Thomson Press (India) Ltd., operated multiple industrial
undertakings, including NEPZ, Noida, qualifying for exemption under
Section 10A of the Income Tax Act.
Inte...
Commissioner of Income Tax-II vs MAF Academy Pvt. Ltd. - Delhi High Court on Section 68 Addition, Accommodation Entries and Burden of Proof in Share Capital Transactions
Facts of the
Case
The assessee filed its return for Assessment Year 2002–03 declaring
nil income.
The return was initially processed under Section 143(1).
Information was subsequently received from t...
Coperion Ideal Pvt. Ltd. vs Commissioner of Income Tax-II (Delhi High Court) | Reassessment under Sections 147/148 Invalid After Four Years in Absence of Failure to Disclose Material Facts
Facts of the
CaseThe assessee, Coperion Ideal Private Limited, filed
its income tax return for Assessment Year 2002–03 declaring income of Rs.
67,91,500. The return was scrutinized and assessment was completed under...
Commissioner of Income Tax-XIII vs Hemant Surana | Delhi High Court on Section 37(1) – Allowability of Share Trading Loss of Chartered Accountant and Distinction Between Business Loss and Prohibited Expenditure
Facts of the
CaseThe assessee, Hemant Surana, was a Chartered
Accountant and had filed his income tax return for Assessment Year 2007-08
declaring income under the head "Business or Profession" and income
from other ...
Commissioner of Income Tax, Delhi-V vs. RITES Ltd. | Crystallization of Prior Period Expenses
Facts
of the Case·
The respondent-assessee, RITES Ltd., is
a Government of India undertaking.
·
In the assessment yea...
Pr. Commissioner of Income Tax-8 vs Sardar Exhibitors Pvt. Ltd. – Delhi High Court dismisses Revenue’s appeal relying on earlier judgment in identical issue under the Income-tax Act
Facts of the Case
The Revenue filed an
appeal before the Delhi High Court against the respondent assessee.
There was a delay of 120
days in re-filing, for which an application seeking condonation was
...
CIT vs. Goetze (India) Limited: Scope of Revisionary Powers Under Section 263 of the Income Tax Act
Facts of the Case·
The respondent-assessee filed its
return of income for the Assessment Year (AY) 2000-01 on 31st November 2000,
declaring a loss under normal provisio...
Pr. Commissioner of Income Tax (Central-2) vs. Tanvir Finance and Leasing Ltd. & Connected Matters | Delhi High Court | Section 68 of the Income Tax Act, 1961
Facts of the CaseThe Revenue
preferred a batch of appeals before the Delhi High Court against the respondent
assessees challenging relief granted by the appellate authorities.The central
dispute pertained to tax addit...