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Commissioner of Income Tax vs Yum Restaurants India Pvt. Ltd. | Delhi High Court | Bogus Share Loss Claims & Sham Transactions under Income Tax Act
Facts of the CaseThe assessee, Yum Restaurants India Pvt. Ltd., claimed
substantial business losses arising from purchase, sale, and valuation of
shares of several companies. The Assessing Officer (AO) examined the
ge...
Commissioner of Income Tax vs. Yum Restaurants India Pvt. Ltd. | Delhi High Court | Section 37(1), Section 28, Section 56 & Depreciation Issues under Income Tax Act
Facts of the CaseThe assessee, Yum Restaurants India Pvt. Ltd., was engaged in
operating and developing Pizza Hut and KFC restaurant businesses in India
through franchise arrangements. It entered into technology licenc...
Commissioner of Income Tax-I vs. Bougainvillea Multiplex Entertainment Centre Pvt. Ltd. – Delhi High Court on Entertainment Tax Subsidy as Capital Receipt under the Income Tax Act
Facts of the CaseThe assessee company was engaged in operating
multiplex cinema halls and shopping malls under the name "Spice
World" at Noida, Uttar Pradesh.The Uttar Pradesh Government introduced a scheme
encouragin...
Taxability of Entertainment Tax Subsidy Received by Multiplex Operator - Capital Receipt or Revenue Receipt? | Section 143(3) & Section 260A of Income Tax Act, 1961
Facts of the CaseThe assessee, Bougainvillea Multiplex Entertainment Centre Pvt.
Ltd., was engaged in operating multiplex cinema halls and shopping malls under
the name “Spice World” in Noida, Uttar Pradesh.The ass...
Commissioner of Income Tax-I vs Bougainvillea Multiplex Entertainment Centre Pvt. Ltd. (Delhi High Court) – Disposal of Connected Income Tax Appeals Following Earlier Decided Lead Matter under the Income Tax Act, 1961
Facts of the CaseThe Revenue preferred three connected appeals
before the Delhi High Court against the assessee, Bougainvillea Multiplex
Entertainment Centre Pvt. Ltd. The Court noted that the controversy involved in
...
Sanjeev Mittal vs Commissioner of Income Tax (Delhi High Court) – Taxability of Share Sale Transactions as Capital Gains or Business Income under the Income Tax Act, 1961 (Sections 45 & 28)
Facts of the CaseThe assessee, a medical practitioner, declared
professional income of ₹1,39,097/- and reported gains of ₹1,97,17,460/- from
sale of shares. The Assessing Officer observed that the professional rece...
Commissioner of Income Tax-IV vs Hero Honda Motors Ltd. | Royalty Payment for Technical Know-how – Capital or Revenue Expenditure | Section 37(1), Section 263 & Section 260A Income-tax Act
Facts of the CaseThe assessee, Hero Honda Motors Limited (now Hero MotoCorp), was
engaged in manufacturing and sale of motorcycles under technical collaboration
with Honda Motor Company, Japan. Under the licence and te...
Commissioner of Income Tax vs M/s Muthoot Financiers & Connected Matters | Section 269SS, Section 271D & Section 273B of the Income Tax Act, 1961 | Delhi High Court
Facts of the CaseThe respondent assessees were partnership firms engaged in the
business of banking and money lending under the Kerala Money Lending Act.
During assessment proceedings, it was noticed that the firms had...
HCL Limited vs Commissioner of Income Tax, New Delhi — Taxability of Lump Sum Technology Transfer Payment under Section 9(1)(vi) & Article VIIIA of Indo-German DTAA
Facts of the CaseThe appellant, HCL Limited (formerly HCL Infosystems Ltd.), acting
as representative assessee of Apollo Domain Computers, GmbH Germany (ADC),
entered into a Technology Transfer and Technical Assistance...
Commissioner of Income Tax-IV vs Hero Honda Motors Ltd. (Now Hero MotoCorp Ltd.) — Royalty Payment for Technical Know-how Held Revenue Expenditure u/s 37(1), Not Capital Expenditure | Delhi High Court
Facts of the CaseThe assessee, Hero Honda Motors Ltd. (presently Hero MotoCorp
Ltd.), was engaged in manufacturing and selling motorcycles through a joint
venture with Honda Motor Co., Japan.Initially, the parties ente...