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Judgment Search Results Home > Cases Phrase: income tax act Court: delhi Year: 2015 Page 1 of about 533 results (0.177 seconds)

Dec 18 2015 (HC)

PR. Commissioner of Income Tax-06 Vs. Matchless Glass Services Pvt. Lt ...

Court : Delhi

Decided on : Dec-18-2015

vibhu bakhru, j. 1. the revenue has filed these appeals under section 260a of the income tax act, 1961 (hereafter the act') impugning a common order dated 29th october, 2014 passed by the income tax appellate tribunal (hereafter the itat') in a batch of two hundred and eighty-four appeals including twelve appeals pertaining to the assessee in respect of six assessment years ( ay') being ..... the nature and the source of the credit in its books of account can be gone into by the income-tax officer. in the case of stellar investment ltd. [1991] 192 itr 287 (delhi), the income-tax officer had accepted the increased subscribed share capital. section 68 of the act was not referred to and the observations in the said judgment cannot mean that the ..... income-tax officer cannot or should not go into the question as to whether the alleged shareholders actually existed or not. if ..... account of the assessee." 23. this court in a recent decision in the case of commissioner of income tax - 3 vs. five vision promoters pvt. ltd.: ita 234/2015, decided on 27th november, 2015 examined and reiterated the law relating to section 68 of the act. it is now well established that "the ao has jurisdiction to undertake enquiries with regard to the .....

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Dec 14 2015 (HC)

Kulbhushan Khosla Vs. Commissioner of Income Tax

Court : Delhi

Decided on : Dec-14-2015

..... dr. s. muralidhar, j. 1. this appeal under section 260a (1) of the income tax act, 1961 ( act') by the assessee is directed against the impugned order dated 22nd may 2003 in ita no. 92/del/2002 for the assessment year ..... considering the assessee's evidence on merits and thereafter left it open to the assessee to challenge the addition in further appeals to the commissioner of income tax (appeals) and the tribunal. ? 14. the itat negatived the plea that the reopening could have been made only on the receipt of adverse material ..... of the assessment was at best due to change of opinion of the ao that some income had escaped assessment. this was impermissible under section 147 of the act. 20. as noted by the decision of this court in cit v. multiplex trading and industrial co. ltd. (decision dated 22nd september 2015 in ita ..... ( ay') 1994-95. 2. while admitting this appeal on 28th february 2005, the court framed the following question of law for consideration: whether the income tax appellate tribunal ..... 356/2013), it would be impermissible for the ao to reopen the assessment unless the ao, on the basis of credible and tangible material, which was not in his possession during the initial assessment, believes that income .....

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Dec 08 2015 (HC)

Honey Enterprises Vs. Commissioner of Income-tax, Delhi

Court : Delhi

Decided on : Dec-08-2015

..... /2004), the following question of law was framed: "whether the itat was correct in law in admitting the addition made by the assessing officer under section 40a(3) of the income-tax act, 1961?" 3. insofar as the assessee's appeals are concerned (being ita nos. 163/2002 and 377/2004), the following question of law was framed: "whether the itat has erred ..... in concluding that the assessing officer's working of rule 9b was correct in view of the scheme of computation of business income as envisaged under sections 28 to 44 of the income-tax act, 1961?" assessee's appeals ita 163/2002 and ita 377/2004 4. the controversy involved in the appeals preferred by the assessee relate to the ..... vibhu bakhru, j. 1. these appeals four in number are filed under section 260a of the income tax act, 1961 (hereafter the 'act') impugning two separate orders of the income tax appellate tribunal (hereafter 'itat') in respect of assessment years (hereafter 'ay') 1992-93 and 1993-94. whilst ita nos. 163/2002 and 377/2004 are assessee's appeals impugning itat' ..... interpretation of rule 9b of the income tax rules, 1962 (hereafter 'rules'), which concerns the deduction in respect of expenditure on acquisition of distribution rights of feature films. according .....

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Dec 08 2015 (HC)

Commissioner of Income-tax, Delhi Vs. Suman Dhamija

Court : Delhi

Decided on : Dec-08-2015

..... respect of ays 1992-93, 1990-91, 1991-92 and 1988-89 respectively. 2. it must be noted at the outset as far as the revenue's appeals under the income tax act, 1961 ('act') are concerned, there were originally nine appeals, ita nos. 20 to 28 of 2003. common questions of law were framed in all the appeals by the court on 14th ..... assessee during the relevant previous year is taxable in view of the provisions of section 45(5)(b) of the income tax act, 1961? 2. whether the income tax appellate tribunal was correct in law in holding that the decision of the supreme court in cit v. hindustan housing and land development trust limited 161 itr 524 is to be applied despite the subsequent change in ..... the proceedings for enhancement of the compensation under section 18 of the la act are pending before this court. proceedings under the income tax act 23. mr. j.n. dhamija filed his return of income for ay 1989-90 on 26th august 1989 declaring an income of rs. 15,61,044 of which rs. 14,44,39 was shown as interest from m/s. kashmir holdings ..... compensation. (iv) mere receipt of an amount of compensation could not be held to be income. reliance is placed on the decision in parimisetti seetharamamma v. cit 57 itr 532 (sc). a receipt can be brought to tax only if it falls under any tax provisions of the act and the burden is on the revenue to establish the same. section 155(16) of the .....

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Nov 30 2015 (HC)

Commissioner of Income-tax, Delhi-V Vs. Provestment Securities (P.) Lt ...

Court : Delhi

Decided on : Nov-30-2015

..... which is impugned by the revenue. 3. by an order dated 2nd july, 2013 this court framed the following questions of law: "1. whether the income tax appellate tribunal has rightly interpreted section 69 of the income tax act, 1961 and was right in deleting the addition of rs.1,37,07,306/ made by the assessing officer on account of undisclosed investment in lamborghini ..... vibhu bakhru, j. 1. the revenue has filed the present appeal under section 260a of the income tax act, 1961 (hereafter 'the act') calling into question an order dated 13th july, 2012 passed by the income tax appellate tribunal (hereafter 'the tribunal') in ita no. 2485/del/2010. the said appeal was filed by the assessee challenging an order dated 31st march, 2010 passed by the ..... car? 2. whether the order of the income tax appellate tribunal is not perverse in the facts and circumstances of the case?" 4. the relevant facts ..... commissioner income tax (appeals) [hereafter 'cit(a)')] in appeal no. 153/cit(a) (xvii)/ del/ 08-09 whereby the .....

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Oct 30 2015 (HC)

Commissioner of Income Tax-7 Vs. RRJ Securities Ltd.

Court : Delhi

Decided on : Oct-30-2015

vibhu bakhru, j. 1. the revenue has preferred these appeals under section 260a of the income tax act, 1961 (hereafter the act') impugning a common order dated 26th august, 2014 passed by the income tax appellate tribunal (hereafter the tribunal') in a batch of six appeals and six cross objections relating to six assessment years (ays), being ays 2003-04 to 2008-09. the aforesaid ..... 11th august, 2008, 27th august, 2008 and 10th december, 2008 respectively.5.7 also, in a reply to a request under the right to information act, 2005 filed by the searched persons, the deputy commissioner of income tax, central circle-17, vide a letter dated 10th june, 2013 noticed that there was no satisfaction noteavailable/recorded in respect of the other entities whose ..... to 2010-11.further, the assessee contended that the seized hard disk contained working papers, balance sheets and other material for income tax filings and as such was fully disclosed in its returns and, therefore, proceedings under section 153c of the act could not be initiated on the basis of the seized material.5.10 the assessee submitted that sh. b.k. dhingra ..... preceding the financial year in which the search was conducted. 17. in pepsi foods pvt. ltd. v. assistant commissioner of income tax: (2014) 367 itr 112 (del), this court had explained that on a plain reading of section 153c of the act, a notice under that section could be issued only after two preceding conditions had been met. first of all, the ao .....

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Aug 28 2015 (HC)

Commissioner of Income-tax (Central)-III Vs. Kabul Chawla

Court : Delhi

Decided on : Aug-28-2015

..... proposes to address in these appeals is the same that was considered by the itat viz., 'whether the additions made to the income of the respondent assessee for the said ays under section 2(22)(e) of the income tax act, 1961 ('act') were not sustainable because no incriminating material concerning such additions were found during the course of search and further no assessments for ..... dr. s. muralidhar, j. 1. these three appeals by the revenue under section 260a of the income tax act, 1961 ('act') are directed against the common order dated 25th may 2014 passed by the income tax appellate tribunal ('itat') in ita nos. 779, 780 and 781/del/2013 relating to assessment years ('ays') 2002-03, 2005-06 and 2006-07. 2. the issue that the court ..... such years were pending on the date of search?' background facts 3. a search was carried out under section 132 of the act on 15th november 2007 on bptp ltd., a ..... , the assessing officer ('ao') decline to rectify the assessments. the order of the cit (a) 6. the assessee filed appeals before the commissioner of income tax (appeals) ['cit (a)']. the grounds urged before the cit (a) was that as far as the additions made under section 2 (22) (e) of the act were concerned, no evidence had been unearthed during the search to warrant such additions .....

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Dec 21 2015 (HC)

Raj Dulari Bhasin Vs. Commissioner of Income-tax

Court : Delhi

Decided on : Dec-21-2015

..... 1. this appeal under section 260a(1) of the income tax act, 1961 ('act') is directed against the impugned order dated 12th may 2013 passed by the income tax appellate tribunal ('itat') in ita no. 2183/del/2000 for the assessment year ('ay') 1990-91. 2. while admitting this appeal ..... assessee against the order of the cit (a), the itat held in the impugned order as under: "24. it is quite ..... sum of rs. 4 lakhs = rs. 9,32,855/- was treated as the income of the assessee under the head profit and gains of business. 13. the appeal filed by the assessee before the commissioner of income tax (appeals) ['cit (a)'] was dismissed on 8th march 2000. while dismissing the appeal filed by the ..... of rs. 4 lakhs under the head 'long term gain' and claimed deduction of rs. 3,75,000 under section 54b of the act. the assessee also declared net taxable income of rs. 7,500 under the head 'capital gains'. 9. the said return of the assessee was accepted by the revenue under section ..... the court by its order dated 18th may 2004 framed the following question of law for consideration: "whether the income tax .....

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Dec 11 2015 (HC)

Maruti Suzuki India Ltd. Vs. Commissioner of Income Tax

Court : Delhi

Decided on : Dec-11-2015

..... . 2. whether amp expenses incurred by the assessee in india can be treated and categorized as an international transaction under section 92b of the income tax act, 1961? 3. whether under chapter x of the income tax act, 1961, a transfer pricing adjustment can be made by the transfer pricing officer assessing officer in respect of expenditure treated as amp expenses and if ..... income tax act, 1961? (iii) whether under chapter x of the income tax act, 1961, a transfer pricing adjustment can be made by the transfer pricing officer/ assessing officer in respect of expenditure treated as amp expenses and if so ..... thirdly, the court noted: it is also uncontested that the controlled international transactions can be made subject-matter of the transfer pricing adjustment in terms of chapter x of the income tax act, 1961 ?. 27. the court further explained the features particular to three of the said assessees i.e sony mobile communications india pvt. ltd., reebok india company and canon india ..... short) was beyond jurisdiction and bad in law as no specific reference was made by the assessing officer, having regard to retrospective amendment to section 92ca of the income tax act, 1961 by finance act, 2012. (ii)whether amp expenses incurred by the assessee in india can be treated and categorized as an international transaction under section 92b of the .....

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Dec 03 2015 (HC)

Pr. Commissioner of Income Tax-06 Vs. Nikki Drugs and Chemicals Pvt. L ...

Court : Delhi

Decided on : Dec-03-2015

..... and chemicals p. ltd., l-119, shastri nagar, delhi-110052. accordingly, notice u/s 153c read with section 153a of the income tax act, 1961 is being issued for the assessment years 2003-2004 to 2008-2009. ? 10. the assessee disputed that the documents referred to in the satisfaction ..... of m/s nikki drugs and chemicals p. ltd. therefore, in view of the provision of section 153c (1) read with section 153a of the income tax act, 1961, i am satisfied that proceedings u/s 153c read with section 153a is required to be initiated in the case of m/s nikki drugs ..... report, inter alia, enclosing a satisfaction note recorded by the ao, which reads as under:- a search operation u/s 132(1) of the income tax act, 1961 was conducted in the case of svp group of cases and concerned persons at various offices and residences by issuing warrants of authorization u/s ..... 132(1) of the income tax act, 1961 on 14-10-08 and various documents, books of account, other valuable articles and other things were found and seized from various premises. ..... vibhu bakhru, j. 1. the revenue has filed these appeals under section 260a of the income tax act, 1961 (hereafter the act') impugning a common order dated 29th october, 2014 passed by the income tax appellate tribunal (hereafter the itat') in a batch of two hundred and eighty-four appeals including ten appeals pertaining to the .....

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