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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...
Director of Income Tax (Exemption) vs. Vishwa Jagriti Mission: Interpretation of Section 12AA and Institutional vs. Individual Liability for Charitable Status
Facts of the Case
The
respondent-assessee, Vishwa Jagriti Mission, was incorporated as a
society on May 10, 1993, claiming status as a charitable institution.
On
December 19, 2005, the society file...
Delhi HC in CIT vs. M/s Dewan Chand Satyapal: Advanced Medical Diagnostic Centre Not an Industrial Undertaking; Section 80-IA Deduction Denied as Film Processing is Service, Not Manufacture
Facts of the Case
The
Assessee's Profile: The respondent, M/s. Dewan Chand
Satyapal, operates an advanced radiological clinic/diagnostic centre
(established in 1948) offering specialized medical servi...
Commissioner of Income Tax Vs. M/S. Dewan Chand Satyapal: Whether X-Ray and Imaging Facilities Qualify as Industrial Undertakings under Section 80-IA
Facts of the CaseThe Commissioner of Income Tax (Appellant) preferred two
commercial tax appeals under the Income Tax Act against the assessee, M/S.
Dewan Chand Satyapal (Respondent). The respondent runs an advanced, s...
Director of Income Tax (Exemption) vs. Vishwa Jagriti Mission: Interpretation of Genuineness of Activities under Section 12AA and Corporate/Individual Fiduciary Liability
Facts of the Case
Assessee
Profile: The Respondent, Vishwa Jagriti Mission, was
incorporated as a society on May 10, 1993, under the Societies
Registration Act, 1860, with an object clause defining it...