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Commissioner of Income Tax-VI vs. M/s T.S. Kishan & Co. Ltd. – Addition under Section 68 on Unexplained Cash Credits, Identity, Creditworthiness & Genuineness of Unsecured Loans | Delhi High Court
Facts of the CaseThe assessee, M/s T.S. Kishan & Co. Ltd., filed its return
declaring a loss of ₹44,70,307/-. During scrutiny assessment proceedings, the
Assessing Officer noticed unsecured loans amounting to ₹...
Deepika Jain & Vikas Exports vs Income Tax Appellate Tribunal – Delhi High Court on Validity of ITAT Remand Without Reasons under Sections 131, 69 & 254(2) of Income Tax Act
Facts of the Case
The
appellants jointly purchased property situated at XI/4834/24, Ansari Road,
Daryaganj, New Delhi for Rs.16 lakhs.
Shareholding
in the property was:
Vikas
Exports ...
Director of Income Tax (International Taxation)-II vs Panalfa Autoelektrik Ltd. – Whether Export Commission Paid to Foreign Agent for Procuring Export Orders is Taxable as Fees for Technical Services under Sections 9(1)(vii) & 195 of the Income Tax Act, 1961 | Delhi High Court
Facts of the
CasePanalfa
Autoelektrik Ltd., an Indian company engaged in manufacturing activities in
India, entered into an agreement with a non-resident foreign entity situated in
Liechtenstein for procuring export ...
M/s Influence vs Commissioner of Income Tax – Claim for Higher Deduction under Section 80HHC through Revised Computation During Assessment Proceedings | Delhi High Court
Facts of the CaseThe assessee firm was engaged in the business of manufacture
and export of leather jackets, shoes, sweaters, jeans, bed sheets and other
merchandise. For Assessment Year 1993-94, the assessee filed its...
Commissioner of Income Tax vs. M/s Triveni Oil Field Services Ltd. – Salary Expenditure for Operationalisation of Oil Rigs Held as Revenue Expenditure under Section 37(1) of the Income Tax Act, 1961
Facts of the Case
The
assessee was engaged in oil drilling operations and hiring oil rigs.
During
Assessment Year 1991-92, the assessee acquired three deep drilling rigs.
One
rig became operatio...
Commissioner of Income Tax-III vs M/s Spice Distribution Ltd. – Delhi High Court on Advertisement Expenditure as Revenue Expenditure under Section 37(1) of the Income Tax Act
Facts of the CaseThe respondent-assessee, M/s Spice Distribution Ltd., was
engaged in the business of trading mobile handsets, accessories, and mobile
repairing services. During the relevant assessment year, the assess...
Carrefour WC&C India Pvt. Ltd. vs Deputy Commissioner of Income Tax | Business Set Up vs Commencement of Business under Section 37 & Section 3 of Income Tax Act | Delhi High Court
Facts of the CaseThe assessee company, Carrefour WC&C India Private
Limited, was incorporated on 19 September 2007 for carrying on wholesale
trading activities in consumer goods and related products.During Assessme...
Income Tax Officer vs Anil Batra & Anr | Director’s Liability Under Section 276B & 278B of Income Tax Act for TDS Default | Delhi High Court
Facts of the CaseThe Income Tax Department issued show cause notices for
Assessment Years 1982-83, 1983-84, and 1984-85 to the principal officer of M/s
Anil Batra & Associates (P) Ltd. for failure to deposit TDS de...
ACEE Enterprises vs Commissioner of Income Tax-I | Delhi High Court | Whether Assessee Can Be Treated as Trader in Shares Without Examining Year-wise Facts and Transactional Matrix under Income Tax Act
Facts of the Case
The
assessee, ACEE Enterprises, had changed the nature of its shareholding
portfolio from “stock-in-trade” to “investment portfolio” beginning from
Assessment Year 2005-06.
...
Oracle India Pvt. Ltd. vs Deputy Commissioner of Income Tax Circle | Reassessment u/s 147/148 Quashed for Absence of Failure to Disclose Material Facts – Delhi High Court
Facts of the CaseThe petitioner, Oracle India Pvt. Ltd., filed its return for
Assessment Year 2002-03 declaring income of Rs. 61,96,43,330/-. The assessment
was completed under Section 143(3) on 04.03.2005.Subsequently...