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CIT Vs. H.B. Leasing & Finance Ltd.: Claim of Higher Depreciation Under Section 32 of Income Tax Act
Facts of the Case·
The present appeal relates to the
assessment year 1986-87. ·
The assessee is engaged in the business...
Commissioner of Income Tax vs. Maruti Suzuki India Ltd. (ITA Nos. 993/2011 & 1029/2011) – Scope of Income Tax Assessment and Transfer Pricing Interventions
Facts of the CaseThe Commissioner of Income Tax (Appellant) preferred appeals
under the Income Tax Act against Maruti Suzuki India Ltd. (Respondent). The
disputes culminated in Appeals (ITA Nos. 993/2011 and 1029/2011)...
Commissioner of Income Tax vs. Maruti Suzuki India Ltd.: Corporate Tax Assessment and Substantial Questions of Law under Section 260A of the Income Tax Act, 1961
Facts of the CaseThe Income Tax Appeals (ITA Nos. 993/2011 and 1029/2011) were
filed before the High Court of Delhi by the Appellant, the Commissioner of
Income Tax. The proceedings involved substantial questions of la...
Director of Income Tax-II vs OHM Limited | Delhi HC on Applicability of Section 44BB vs 44DA of Income Tax Act, 1961
Facts of the
Case:The petitioner, Director of Income Tax-II,
challenged the applicability of Section 44BB of the Income Tax Act, 1961 to the
respondent, OHM Limited, a UK-based non-resident company engaged in
providi...
M/s Bharti Televentures Ltd. vs. Addl/Jt Commissioner of Income Tax: Capital Expenditure vs. Revenue Deduction Under Sections 37(1) and 36(1)(vii)
Facts of the Case
Core
Business: The appellant/assessee is primarily engaged
in promoting, establishing telecom services, and allied activities,
including mobile and cellular operations.
Lease
...
M/S Bharti Televentures Ltd. vs. Additional/Joint Commissioner of Income Tax: Capitalization of Asset Installation Costs and Disallowance of Inter-Corporate Bad Debt Claims under Section 36(1)(vii)
Facts of the Case
Assessee
Business: The appellant (assessee), M/S Bharti
Televentures Ltd., is primarily engaged in promoting and establishing
telecom services, including mobile and cellular operatio...
.Commissioner of Income Tax, Delhi vs. Indovax P. Ltd. (Computation of Deduction Under Section 80-IA of the Income Tax Act, 1961 — Disallowance of Set-off of Losses from a Separate Unit Against Eligible Undertaking Profits)
Facts of the Case
Assessee's
Business: The respondent-assessee, M/s Indovax P.
Ltd., was engaged in manufacturing poultry vaccines at its facility in
District Hissar, Haryana, in collaboration with Vi...
CIT vs. M/s. N.R. Portfolio Pvt. Ltd. (2012): Shifting the Burden of Proof under Section 68 and the Demise of the "Paper Trail" Defense in Unexplained Share Capital
Facts of the Case
The
respondent-assessee filed its return of income for Assessment Year (AY)
2004-05, declaring a loss of ₹42,793/-.
The
Assessing Officer (AO) subsequently reopened the assessme...
*Delhi HC in CIT vs. M/s Dewan Chand Satyapal: Medical Diagnostic Centre Not an Industrial Undertaking under Section 80-IA; Installation of Advanced Imaging Systems Treated as Mere Business Expansion
Facts of the Case
The
Assessee, M/s. Dewan Chand Satyapal, operates an advanced radiological
clinic that provides specialized services such as X-rays, Magnetic
Resonance Imaging (MRI), CT Scans, and N...
Commissioner of Income Tax vs Morgan Finvest Pvt. Ltd. – Penalty under Section 271(1)(c) for Wrong Depreciation Claim on Property Not Used for Business and Inclusion of Land Cost in Depreciable Asset
Facts of the
Case
The assessee company, Morgan Finvest Pvt. Ltd.,
engaged primarily in investment and financial services activities, filed its
return declaring nil income. During scrutiny assessment proceedin...