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Shri Rajiv Dass vs Deputy Commissioner of Income Tax (Delhi High Court) – Section 54B Exemption Denied on Failure to Prove Agricultural Use of Land
Facts of the CaseThe assessee, Shri Rajiv Dass, sold land situated in Ghaziabad
for ₹6.51 crores, which had been purchased earlier for ₹58.90 lakhs. The
assessee claimed exemption under Section 54B on capital...
Principal Commissioner of Income Tax–3 vs DLF Home Developers Ltd. (2018) – Section 14A Disallowance & Rule 8D Applicability | Delhi High Court
Facts of the CaseThe Revenue filed an appeal under Section 260A against the
order of the Income Tax Appellate Tribunal concerning Assessment Year 2011–12.The case involved two major issues:
Golf
Club Mem...
JC Bamford Excavators Ltd. & Ors. vs Deputy Director of Income Tax & Anr. (Delhi High Court, 2019) – Appeals Withdrawn Pursuant to Settlement under Indo-UK Mutual Assistance Treaty
Facts of the CaseThe Appellants, including JC Bamford Excavators Ltd. and JC
Bamford Investments Ltd., had filed multiple income tax appeals before the
Delhi High Court challenging actions/orders of the Income Tax Depa...
Pr. Commissioner of Income Tax-5 vs Jagson International Ltd (2018) – Delhi High Court | Section 14A & Rule 8D Disallowance | Drilling Rig as Qualifying Ship u/s 115VD
Facts of the
CaseThe present appeals were filed by the Revenue under
Section 260A of the Income Tax Act, 1961 against the common order of the Income
Tax Appellate Tribunal dated 11 May 2018 concerning Assessment Years...
Pr. Commissioner of Income Tax-9 vs Vedanta Limited – Section 14A r/w Rule 8D Not Automatic Without AO Satisfaction (Delhi HC
Facts of the CaseThe respondent-assessee, Vedanta Limited, earned dividend
income of ₹8.97 crores, which was exempt under Section 10(34) of the
Income-tax Act. The assessee voluntarily disallowed ₹9,07,453 un...
The Pr. Commissioner of Income Tax-3 vs M/s Elofic Industries Ltd (Delhi High Court) – Royalty as Revenue Expenditure & Deletion of Unverified Purchases Addition under Sections 147, 148, 133(6), 260A of Income Tax Act
Facts of the CaseThe present appeal was filed by the Revenue under Section
260A of the Income Tax Act, 1961 against the order of the Income Tax
Appellate Tribunal for Assessment Year 2004-05. The assessee had ori...
Granite Gate Properties Pvt. Ltd. vs Principal Commissioner of Income Tax (Delhi High Court) – Penalty u/s 271(1)(c) on Timing of Expense Allowability under PoC Method
Facts of the CaseThe assessee, a real estate developer, was engaged in
construction of housing projects “Lotus Boulevard” and “Lotus Panache.” It
followed the Percentage of Completion Method (PoC Method) ...
PR. Commissioner of Income Tax–5 vs Jagson International Ltd | Section 14A & Rule 8D Disallowance | Drilling Rig as Qualifying Ship u/s 115VD | Delhi High Court
Facts of the CaseThe Revenue filed
appeals under Section 260A against the order of the Income Tax Appellate
Tribunal concerning Assessment Years 2009–10 and 2010–11. Two primary issues
arose:
Whether a drilling ...
PR Commissioner of Income Tax-6 vs Nucleus Steel Private Limited (Delhi High Court) – Section 68 Addition on Genuineness of Transaction Despite Proven Identity and Creditworthiness
Facts of the CaseThe Revenue challenged the order concerning receipt of ₹67.50
crores by the respondent-assessee from M/s Unitech Limited. The Revenue did
not dispute:
Identity
of the payer
Creditwor...
Principal Commissioner of Income Tax-3 vs Ericsson India Pvt. Ltd. (Delhi High Court, 2018) – Section 115JB | Provision for Gratuity & Leave Encashment | Sales Promotion Expenses
Facts of the CaseThe Revenue filed appeals against Ericsson India Pvt. Ltd. for
Assessment Years 2008-09 and 2009-10.The primary dispute related to:
Addition
of provisions for gratuity and leave encashment...