Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Deputy Director of Income Tax (E), Investigation Circle-II vs Petroleum Sports Promotion Board | Delhi High Court | Allowability of Sports Promotion Expenditure under Sections 57(iii), 11, 12A and 10(23C) of Income Tax Act
Facts of the CaseThe assessee, Petroleum Sports Promotion Board (PSPB), was a
society established for promotion of sports activities and was registered under
the Societies Registration Act. For Assessment Year 2003-04,...
M/s Kelvinator of India Ltd. vs. The Commissioner of Income Tax & Ors. Waiver of Interest under Section 215 of the Income-tax Act, 1961 read with Rule 40 of the Income-tax Rules, 1962
Facts of the Case
Filing
of Returns: The petitioner, M/s Kelvinator of India
Ltd., filed its original return of income for the assessment year 1985-86
on July 29, 1985, declaring an income of â‚...
Commissioner of Income Tax-IV vs Indian Vaccines Corporation Ltd. – Taxability of Interest Earned During Pre-Operative Stage Under Section 56 of Income Tax Act | Delhi High Court
Facts of the Case
The
assessee company was incorporated for manufacturing human vaccines through
technology obtained from Pasteur Merieux Serums et Vaccines, France.
Under
an agreement between Indi...
The Commissioner of Income Tax-IV vs Indian Vaccines Corporation Ltd. – Taxability of Interest Earned from Portfolio Management Scheme During Pre-Operative Period under Section 56 of the Income Tax Act, 1961 (Delhi High Court)
Facts of the CaseThe assessee company was incorporated for manufacturing human
vaccines using technology developed by Pasteur Merieux Serums et Vaccines,
France. The company received substantial financial grants and pr...
M/s OPG Metals & Finsec Ltd. vs. Commissioner of Income Tax & Anr.: Validity of Second Reassessment Notice Under Section 148 Involving Amalgamated Entities and Accommodation Entries-Change of Opinion vs. Fresh Material Information
Facts of the Case
Return
of Income: The petitioner company, M/s OPG Metals
& Finsec Ltd., filed its return of income for the Assessment Year (AY)
2003-04 on November 28, 2003, declaring a financia...
The Commissioner of Income Tax-IV vs Indian Vaccines Corporation Ltd. – Taxability of Interest Earned from Portfolio Management Scheme During Pre-Operative Period under Section 56 of the Income Tax Act, 1961 (Delhi High Court)
Facts of the CaseThe assessee company was incorporated for manufacturing human
vaccines using technology developed by Pasteur Merieux Serums et Vaccines,
France. The company received substantial financial grants ...
Commissioner of Income Tax-II vs. M/S Leroy Somer & Controls (India) Pvt. Ltd.: Delhi HC on Pre-requisites of Section 271G Penalty & Rule 10D Compliance
Facts of the Case
Assessee
Profile & Filing: The respondent-assessee entered into
international transactions, utilizing Comparable Uncontrolled Price (CUP)
comparability for export sales and the T...
The Commissioner of Income Tax-IV vs Indian Vaccines Corporation Ltd. – Taxability of Interest Earned from Portfolio Management Scheme During Pre-Operative Period under Section 56 of the Income Tax Act, 1961 (Delhi High Court)
Facts of the CaseThe assessee company was incorporated for manufacturing human
vaccines using technology developed by Pasteur Merieux Serums et Vaccines,
France. The company received substantial financial grants ...
Commissioner of Income Tax, Delhi-IV vs. DCM Limited: Can Penalty Under Section 271(1)(c) Be Imposed For Making an Erroneous Legal Claim During Scrutiny Assessment When All Material Facts Are Disclosed?
Facts of the Case
The
respondent/assessee (DCM Limited) filed its original return for the
Assessment Year 2002-03, which was subsequently revised multiple times.
During
the pending scrutiny assessm...
Raghav Bahl Vs. Commissioner of Income Tax (Delhi High Court) – Validity of Proceedings under Sections 158BD & 158BE of the Income-tax Act Where Satisfaction Was Recorded Beyond Statutory Limitation Period
Facts of the Case
A
search operation under the Income-tax Act was conducted against Mr.
Manoj Aggarwal on 03.08.2000.
Block
assessment proceedings of the searched person were completed under Sectio...