Batra Hospital Employees Union Vs. Batra Hospital & Medical Research (Delhi High Court) It would be hazardous to presume that every organization, which is certified under Section 80-G of the Income Tax Act, would, of necessity, be entitled, ipso facto, to immunity from the applicability of the Payment of Bonus Act. There is substance, in […]
The difference between the market value of the shares and the value of the transfer was held to constitute deemed gift under Section 4 and that amount was brought to tax. The Gawahati High Court found that the transfer was pursuant to a family settlement and stated that the provisions of the Gift Tax Act would not be applicable.
The Delhi High Court recently ruled that the repair and maintenance expenditure incurred by a Hotel is revenue expenditure under the Income Tax Act.
In the case of Oriental Bank of Commerce VS Additional Commissioner of Income Tax, Delhi High Court has held that provision made by bank for interest on overdue deposits can’t be disallowed.
Pr. CIT Vs. National Informatics Center Services Inc. (Delhi High Court) Date of filing of the return of income is 25-09-2009. Therefore, the notice served on the taxpayer u/s 143(2) on 26-08-2011 is beyond the period of six months from the end of the financial year in which the return was furnished. Therefore, the notice […]
For the reasons mentioned in the application, the delay in re-filing the present appeal is hereby condoned.
The Delhi High Court in the case of Commissioner of Income Tax, Delhi versus M/S. MGF India Ltd wherein dismissed the revenues appeal and held that lease equalization charges can be deducted while computing book profit.
In the absence of any overt act, which disclosed conscious and material suppression, invocation of Explanation 7 to s. 271(1)(c) in a blanket manner could not only be injurious to the assessee but ultimately would be contrary to the purpose for which it was en grafted in the statute.
A two-Judge Bench of the Delhi High Court in Dabur India Ltd. vs. Pr. Commissioner of Income Tax held that Transfer Pricing adjustment is applicable to overseas subsidiary despite of receiving any royalty.
CIT (Central) Vs. M/S Russian Technology Center (P) Ltd. (Delhi High Court) The preceding enumeration of the circumstances of the case show that the assessee had furnished all relevant data before the AO and the CIT(A), which, however, were not inquired into by the AO. Instead he obdurately adhered to his first impression and/or initial […]
