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Commissioner of Income Tax v. Assessee – Eligibility of DEPB Benefits for Deduction under Section 80-IB of the Income Tax Act, 1961 | Delhi High Court
Facts of the Case
The
assessee claimed deduction under Section 80-IB on profits represented by
DEPB benefits.
The
Assessing Officer held that DEPB receipts were not eligible for deduction
unde...
Commissioner of Income Tax vs. Assessee – Allowability of Export Commission Deduction under the Income-tax Act | Delhi High Court | ITA No. 441/2009
Facts of the CaseThe assessee claimed deduction of export commission
amounting to Rs. 2,91,11,445/- under the provisions of the Income-tax
Act.The Assessing Officer (AO) disallowed the
deduction claimed by the assesse...
Commissioner of Income Tax vs. 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. operated manufacturing units
at several locations including Solan, Ghaziabad, Lucknow, Gram and Kasauli. The
company incurred expenditure on puja, hawan, kirtan and related activi...
Commissioner of Income Tax vs. M/s Mohan Meakin Ltd. – Allowability of Puja, Havan and Kirtan Expenses as Business Expenditure under Section 37(1) of the Income-tax Act, 1961 | Delhi High Court
Facts of the CaseThe assessee, M/s Mohan Meakin Ltd., had been
incurring expenditure on Puja, Havan, Kirtan and similar activities as a
welfare measure for its employees and staff members across its various units
loca...
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:
...