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Bharti Infratel Limited vs Deputy Commissioner of Income Tax & Anr. (Delhi High Court, 2019) – Reassessment u/s 147/148 Quashed on Grounds of Change of Opinion & Full Disclosure
Facts of the Case
The
petitioner, Bharti Infratel Limited (BIL), filed its return for AY
2008–09 declaring losses under normal provisions and book profits under
Section 115JB.
The
case was ...
Rajiv Jain vs Income Tax Officer (Delhi High Court) – Section 68 Addition on Cash Deposits | ITA 1115/2017 (2018)
Facts of the
Case
The assessee, engaged in commission agency business, filed return
declaring income of ₹5,84,146 for AY 2010-11.
During scrutiny, cash deposits of ₹16,42,592 and ₹10,17,650 were
e...
Commissioner of Income Tax-III vs Shyam Telelink Ltd. & Pr. Commissioner of Income Tax-8 vs Sistema Shyam Teleservices Ltd. (Delhi High Court) – Section 260A | Taxability of Unutilized Prepaid Talk Time
Facts of the
CaseThe respondent-assessee, engaged in providing
telecom services, offered prepaid and postpaid services. While postpaid income
was recognized based on actual usage, the dispute arose regarding prepaid
...
Principal Commissioner of Income Tax–4 vs Geetanjali Credits and Capital Limited (Delhi High Court) – Reassessment u/s 147/148 & Addition u/s 68 on Alleged Bogus Share Transactions
Facts of the CaseThe assessee company, Geetanjali Credits and Capital Limited
(formerly Shubh International Ltd.), filed returns for AY 1999–2000 and AY
2000–2001 declaring minimal income/loss. These returns ...
Principal Commissioner of Income Tax, Delhi-2 vs Sh. Vineet Gupta | Delhi High Court | Low Tax Effect Appeals Dismissed under CBDT Circular No. 3/2018 | Section 260A Income Tax Act
Facts of the CaseThe Revenue instituted multiple Income Tax Appeals against
the respondent assessee before the Delhi High Court challenging findings passed
by the lower appellate authority. At the hearing stage, counse...
Alfa Bhoj Limited vs Deputy Commissioner of Income Tax (Delhi High Court) – Section 68 Bogus Share Capital Addition Upheld (AY 2002–03)
Facts of the CaseThe assessee, Alfa Bhoj Limited, was subjected to search and
seizure proceedings under Section 132 of the Income Tax Act on 10 November
2004. Subsequently, notice under Section 153A was issued. D...
Principal Commissioner of Income Tax-7 vs M/s Oracle (OFSS) BPO Services Ltd (Delhi High Court) – Allowability of Revised Computation under Section 10A & Section 80A(5) of the Income Tax Act
Facts of the CaseThe Revenue filed an appeal under Section 260A of the Income
Tax Act, 1961 against the order of the Income Tax Appellate Tribunal concerning
Assessment Year 2009–10. The respondent-assessee was...
Commissioner of Income Tax-III vs Shyam Telelink Ltd. (Sistema Shyam Teleservices Ltd.) | Section 260A Income Tax Act | Taxability of Unutilized Prepaid Talk Time
Facts of the
CaseThe respondent-assessee, engaged in telecom
services, provided both prepaid and postpaid services. While postpaid billing
was based on actual usage, the dispute concerned prepaid cards.The assessee fo...
Commissioner of Income Tax-III vs Shyam Telelink Ltd. (Now Sistema Shyam Teleservices Ltd.) – Taxability of Unutilized Prepaid Talk Time under Section 260A of the Income Tax Act, 1961
Facts of the
Case
The assessee, engaged in telecom services, provided prepaid and
postpaid services.
For prepaid services, customers paid in advance for talk time.
The assessee recognized revenue only when...
Principal Commissioner of Income Tax-4 vs INS Finance & Investment Pvt. Ltd. (2019) – Taxability of Interest on Refund of Auction Money under Section 260A of Income Tax Act
Facts of the CaseThe respondent-assessee, INS Finance & Investment Pvt.
Ltd., had purchased land through an auction conducted by the Debt Recovery
Tribunal. Subsequently, the auction proceedings were challeng...