Direct Tax/ Income Tax Archive
GUJARAT HIGH COURT: Virat Alloys Private Limited v. The Assistant Commissioner of Income Tax Circle, Gandhinagar (SCA No. 5039/2024) Background: The petitioner company filed its revised return of income for the A.Y 2015-16 on 09.03.2017 declaring its income of Rs. Nil. A search was carried out in case of M/s World Window Group. It was …
DELHI HIGH COURT: Commissioner of Income Tax, International Taxation-1, New Delhi v. Clifford Chance Pte Ltd (ITA 353/2025) Background: The assessee, a Singapore-based non-resident law firm, filed NIL income returns for AYs 2020-21 and 2021-22. The AO alleged that the assessee had a service Permanent Establishment (“PE”) and a virtual service PE in India under …
KARNATAKA HIGH COURT: Sri. Kewal Chand Jain v. Assistant Commissioner of Income Tax (W.P. No. 30135/2021) Background: The petitioner challenged assessment order u/s 153C r/w Section 144 of the Income-tax Act, 1961. His residential premises were subjected to a search u/s 132, pursuant to which certain documents were seized. Despite search being conducted at his …
Supreme Court: Shital Fibers Ltd. v. Commissioner of Income Tax (and connected cases) Background: In this case, the appellant had claimed deductions under Section 80-HHC (export profits) and Section 80-IA/80-IB (industrial profits). However, the Income Tax Department disallowed these claims, contending that Section 80-IA (9) prohibits availing double benefits on the same profits, a …
Bank of India v. DCIT Background: The assessee, a public sector bank, received ₹12.93 crore from the RBI under the Export Credit (Interest Subsidy) Scheme, 1968, as compensation for offering export credit to borrowers at concessional interest rates. While filing its return for AY 1992–93, the assessee excluded this subsidy from chargeable interest under …
M/s. Prasad Film Laboratories Pvt. Ltd. v. ACIT Background: The appellant made regular payments to its parent company during the course of business, which were treated by the Assessing Officer as deemed dividends under Section 2(22)(e) of the Income Tax Act. The ITAT remanded the matter back to assessees whether accumulated profits existed on …
Deputy Director Jagdalpur Mining Officer v. The DCIT Background: A TDS survey revealed that the State Mining Department had not collected tax collected at source on compounding fees/fines recovered from persons involved in illegal mining and transportation of minerals. The Income Tax Department treated the State as an assessee-in-default under Section 206C(1C) of the …
M/S Lala Shivnath Rai Sumerchand Confectioner Private Limited v. Additional Commissioner, Cgst Delhi-West, New Delhi Background: The Petitioner runs a sweetmeat shop and a restaurant. It had challenged an order raising demand of ineligible input tax credit amounting to Rs. 11,47,55,615/- used for discharging outward tax liability for the F.Y. 2017-18 to 2022-23 and …
Deputy Commissioner of Income Tax v. Rakesh Ramamlal Shah Background: The Assessee (Rakesh Ramanlal Shah) filed his return of income for the A.Y. 2014-15 on 26.07.2014, declaring a total income of Rs. 39,61,071/-. The case was selected for scrutiny, and the Assessing Officer (AO) conducted an examination under Section 143(3) of the Income Tax …
SHREE SARKHEJ KELAVANI MANDAL V. ADDITIONAL/JOINT/DY. ASSISTANT COMMISSIONER OF INCOME TAX/INCOME TAX OFFICER & ANR. Background: The Petitioner filed its return of income for the A.Y. 2018-19 om 30.03.2019 declaring Nil Income, claiming exemption under section 11 & 12 of the Income Tax Act. The Petitioner submitted an audit report in Form No. 10 but …
