Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Principal Commissioner of Income Tax-7 vs The Basti Sugar Mills Company Limited (2018) – Section 36(1)(iii) Deduction on Interest & Commercial Expediency Explained
Facts of the CaseThe present appeal was filed by the Revenue under Section 260A
of the Income Tax Act against the order of the Income Tax Appellate Tribunal
for Assessment Year 1999–2000. This case represents t...
PR. Commissioner of Income Tax (Central)-3 vs Surya Buildwell Pvt. Ltd. | Delhi High Court | Low Tax Effect Appeals Dismissed under CBDT Circular No. 3/2018
Facts of the CaseThe present matter consists of multiple appeals (ITA Nos.
985, 988, 989, 990, 991, and 992 of 2018) filed by the Revenue against Surya
Buildwell Pvt. Ltd. before the Delhi High Court.These appeals aros...
Surendra Kumar Jain & Virendra Jain vs Principal Commissioner of Income Tax (Central)-III, New Delhi & Anr. (2018) – Delhi High Court | Writ Petitions Allowed | Reference to Lead Case WP(C) 4304/2018
Facts of the CaseThe petitioners, including Surendra Kumar Jain and Virendra
Jain, filed multiple writ petitions before the Delhi High Court against the
Principal Commissioner of Income Tax (Central)-III, New Del...
Rakshit Jain & Ors. vs Assistant Commissioner of Income Tax (ACIT) (2018:DHC:6382) – Prosecution for Failure to File Income Tax Return under Sections 276CC & 278B of Income Tax Act
Facts of the CaseThe petitioners, including Rakshit Jain, Shravan Gupta,
Arun Mitter, and M/s MGF Developments Ltd., filed petitions under Section
482 Cr.P.C. seeking quashing of criminal proceedings initiated by...
Surendra Kumar Jain vs Principal Commissioner of Income Tax (Central)-III, New Delhi & Anr. – Limitation for Completion of Assessment after ITAT Remand under Sections 153A & 153(2A) of Income Tax Act
Facts of the CaseThe case arises out of search and seizure proceedings
conducted under Section 132 of the Income Tax Act. Pursuant to the search,
block assessments were completed on 28.03.2013.
The
assessee cha...
PR. Commissioner of Income Tax (Central-3) vs Surya Buildwell Pvt. Ltd. – Delhi High Court | Low Tax Effect Appeals Dismissed under CBDT Circular No. 3/2018
Facts of the CaseThe Revenue filed multiple appeals (ITA Nos. 985/2018,
988/2018, 989/2018, 990/2018, 991/2018, and 992/2018) against the respondent
assessee, Surya Buildwell Pvt. Ltd., arising out of a consolida...
Rakshit Jain & Others vs Assistant Commissioner of Income Tax (ACIT) – Criminal Prosecution for Failure to File Income Tax Return under Sections 276CC & 278B IT Act Upheld by Delhi High Court
Facts of the Case
Petitioners
included a company (M/s MGF Developments Ltd.) and its directors.
Allegation:
Failure to file income tax return for AY 2011–12 within due date
(30.09.2011).
...
Rakshit Jain & Ors. vs Assistant Commissioner of Income Tax (ACIT) (2018) – Prosecution for Non-Filing of Income Tax Return under Sections 276CC & 278B of Income Tax Act
Facts of the CaseThe present petitions were filed under Section 482 of the
Code of Criminal Procedure, 1973, seeking quashing of criminal proceedings
initiated by the Income Tax Department. The prosecution arose ...
Rakshit Jain & Ors. vs Assistant Commissioner of Income Tax (ACIT) (2018) – Delhi High Court | Prosecution under Section 276CC Income Tax Act
Facts of
the CaseThe petitioners, including Rakshit Jain, Shravan Gupta,
Arun Mitter, and M/s MGF Developments Ltd., filed petitions under Section
482 Cr.P.C. seeking quashing of criminal proceedings initiated ...
PR. Commissioner of Income Tax, Delhi-5 vs M/s Kaane Packaging Pvt. Ltd. (2018) – Appeal Dismissed on Low Tax Effect under CBDT Circular No. 3/2018 | Section 260A Income Tax Act
Facts of the CaseThe present matter arose from appeals filed by the Revenue
before the Delhi High Court under Section 260A of the Income Tax Act, 1961. The
Revenue challenged orders concerning the respondent-assessee, ...