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Commissioner of Income Tax-XVI vs Shri Atul Kumar Swami – Delhi High Court on Reopening of Assessment under Sections 147/148 Without Fresh Tangible Material
Facts of the CaseThe assessee had disclosed details regarding amounts received
under a non-compete agreement within the return of income and accompanying
documents. Subsequently, the Revenue initiated reassessment proc...
Commissioner of Income Tax-XVI vs K. Ramakrishnan | Determination of Holding Period for Capital Asset – Date of Allotment vs Date of Conveyance Deed for Long-Term Capital Gain Benefit under Section 54EC of the Income Tax Act
Facts of the Case
The
assessee booked a HUDA plot and deposited earnest money on 18.06.1986.
The
plot was allotted to the assessee on 03.08.1999.
Following
allotment, the assessee deposite...
Director of Income Tax (Exemption) v. Charanjiv Charitable Trust | Charitable Trust Exemption under Section 11, Related Party Transactions and Section 68 Corpus Donation Issues
Facts of the Case
Charanjiv
Charitable Trust was registered under Section 12A of the Income Tax Act
and was engaged in charitable educational activities.
During
Assessment Years 2006–07 and 2007â...
DLF Ltd. & Another vs Additional Commissioner of Income Tax & Another | Delhi High Court on Validity of Special Audit under Section 142(2A) of Income Tax Act in POCM and SEZ Deduction Cases
Facts of the Case
The
petitioner company was engaged in real estate development and also earned
income from SEZ projects.
For
Assessment Year 2010–11, the petitioner filed its return declaring
...
Adobe Systems Software Ireland Ltd. v. Assistant Director of Income Tax, W.P.(C) Nos. 2326/2013, 2328/2013 & 2330/2013, Delhi High Court, decided on 28 March 2014
Facts of the Case
Adobe
Systems Software Ireland Ltd., a non-resident company incorporated in
Ireland, carried on business involving Adobe software products.
The
petitioner functioned in India thro...
Niti Wadhawan vs Deputy Commissioner of Income Tax (DCIT) & Commissioner of Income Tax XV vs M/s Niti Wadhawan – Validity of Block Assessment under Sections 158BC and 158BD in Search Proceedings involving Seized Material and Undisclosed Property Consideration
Facts of the CaseA search and seizure operation under Section 132 of the Income
Tax Act, 1961 was conducted against Shri Y.C. Wadhawan, husband of the
assessee, on 27.05.2003. During the search proceedings, certain doc...
Commissioner of Income Tax (LTU) vs Dalmia Bharat Sugar and Industries Ltd. – Allowability of Cane Price Arrears Deduction on Crystallization of Liability under Mercantile System | Section 43B & Accrued Liability Principles under Income Tax Act
Facts of the CaseThe assessee had claimed deduction of differential sugar cane
price amounting to sums relating to previous years including financial years
1996-97, 2002-03, and 2003-04 during Assessment Year 2005-06. ...
Commissioner of Income Tax (LTU) vs Dalmia Bharat Sugar and Industries Ltd. – Allowability of Cane Price Arrears Deduction on Crystallization of Liability under Mercantile System | Section 43B & Accrued Liability Principles under Income Tax Act
Facts of the CaseThe assessee had claimed deduction of differential sugar cane
price amounting to sums relating to previous years including financial years
1996-97, 2002-03, and 2003-04 during Assessment Year 2005-06. ...
Commissioner of Income Tax, Delhi-II vs Kalindi Rail Nirman Engineering Ltd. – Penalty under Section 271(1)(c) for Concealment of Income in Estimated Assessment after Search and Special Audit | Delhi High Court
Facts of the CaseThe assessee, engaged in execution of Indian Railways projects
on a turnkey basis, filed its return for Assessment Year 1995–96 declaring
total income of approximately Rs. 88.91 lakhs.Following a sea...
M/s Omaxe Ltd. & Anr. vs Deputy Commissioner of Income Tax & Anr. – Delhi High Court | Validity of Proceedings under Sections 153C, 245D & 245I after Settlement Commission Order
Facts of the Case
The
petitioner company, M/s Omaxe Ltd., engaged in real estate business, was
subjected to a search operation and was issued notice under Section 153A
of the Income Tax Act.
The
...