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Commissioner of Income Tax vs Bharat Aluminium Company Ltd. (BALCO) – Revenue Expenditure on Shared Infrastructure, Depreciation on Block Assets, Additional Grounds Before ITAT, Leave Encashment and Deferred Revenue Expenditure under Section 32 of Income Tax Act, 1961
Facts of the CaseBharat Aluminium Company Ltd. (BALCO), a
Government sector undertaking, had entered into an arrangement with National
Thermal Power Corporation (NTPC) at Korba for sharing common infrastructure
facili...
Delhi High Court Allows Deduction of Sales Promotion Gifts Under Section 37(1: CIT vs. M/s C.B. K.R. Enterprises and the Principle of Commercial Expediency)
Facts
of the CaseThe respondent-assessee is a
partnership firm engaged in the business of trading. Its primary business
activity involves acting as a commission agent for M/s Marico Industries Ltd.,
who are the manuf...
Commissioner of Income Tax v. M/s Mohan Meakin Ltd. | Allowability of Puja, Hawan and Kirtan Expenses as Business Expenditure under Section 37(1) of the Income-tax Act, 1961
Facts of the CaseM/s Mohan Meakin Ltd. had manufacturing units
located at Solan, Ghaziabad, Lucknow, Gram and Kasauli, along with various
sub-units. The company incurred expenditure on Puja, Hawan, Kirtan and related
...
Commissioner of Income Tax vs Bharat Aluminium Company Ltd. (BALCO) – Revenue Expenditure vs Capital Expenditure, Depreciation on Block of Assets, Additional Grounds before ITAT & Deferred Revenue Expenditure under Section 32 of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseBALCO, a Government sector undertaking at the
relevant time, had entered into arrangements with National Thermal Power
Corporation (NTPC) at Korba for sharing common infrastructure facilities such
as ...
Commissioner of Income Tax vs. M/s. C.B. K.R. Enterprises: Deletion of Ad-Hoc Disallowances on Business Promotion Expenses Under Section 37(1) When Books of Accounts Are Undisputed
Facts
of the Case·
The
respondent-assessee is a partnership firm engaged in the business of trading
and acts as a commission agent for M/s. Marico Industries Ltd. (man...
Emmpac Holdings Pvt. Ltd. vs Commissioner of Income Tax, Delhi-VIII & Another | Consultancy Fees Paid Without Actual Services Not Allowable as Business Expenditure Under Section 37(1) of the Income-tax Act
Facts of the CaseThe assessee, Emmpac Holdings Pvt. Ltd., was
engaged in the business of trading in music, video and audio cassettes, CDs,
VCDs and DVDs.For Assessment Years 2002-03 and 2003-04, the
assessee claimed:
...
M/s. Biotech International Ltd. & Anr. vs Assistant Commissioner of Income Tax | Reassessment Proceedings Valid Despite Earlier Assessment Being Quashed for Non-Service of Notice under Section 143(2) – Delhi High Court
Facts of the
Case
The assessee filed its return of income under Section 139(1) for AY
2001-02 claiming deduction under Section 80-IA.
The Assessing Officer completed scrutiny assessment under Section
143...
Commissioner of Income Tax vs. Assessee – Whether Expenditure Incurred Was Capital Expenditure or Revenue Expenditure – Appeals Dismissed by Delhi High Court under Section 260A of the Income-tax Act, 1961
Facts of the
Case
The Revenue preferred appeals before the Delhi High Court
challenging the treatment of certain expenditure claimed by the assessee.
The dispute centered on whether the expenditure const...
Delhi High Court Upholds Deductibility of Low-Value Promotional Gifts and Business Promotion Expenses Under Section 37(1) – CIT vs. M/s. C.B. K.R. Enterprises
Facts
of the Case·
The
respondent-assessee is a partnership firm engaged in the business of trading
and acts as a commission agent for M/s. Marico Industries Ltd. (man...
Commissioner of Income Tax vs Transport Assessee (ITA No. 1070/2009) – Delhi High Court Upholds Business Expediency in Freight Transport Operations under Section 143(1) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, engaged in the transport business,
filed the return of income for Assessment Year 2003-04 declaring total income
of Rs. 21,41,987/-. During assessment proceedings, the Assessing Officer ...