Blog Categories
Subscribe to Newsletter
Join our subscribers list to get the latest Tax Updates and Opportunities.
Knowledge Portal
Click here to explore deep insights, FAQs, and comprehensive tax guides.
Explore Now
Commissioner of Income Tax vs. Wimco Seedlings Ltd. | Disallowance of Expenditure under Section 14A of the Income Tax Act, 1961 regarding Allocation of Common Expenses towards Taxable and Non-Taxable (Exempt) Income
Facts of the Case
Appeals
and Assessment Years: The Revenue (Commissioner of Income
Tax) filed three interconnected appeals (ITA Nos. 1367/2008, 1368/2008,
and 1391/2008) against a common judgment of ...
Commissioner of Income Tax vs. Wimco Seedlings Ltd.: Legal Validity of Allocating and Apportioning Common Business Expenses Incurred by an Assessee Toward Taxable and Non-Taxable Income Streams Under Section 14A of the Income Tax Act, 1961
Facts of the Case
The
Revenue filed three interconnected appeals (ITA Nos. 1367/2008, 1368/2008,
and 1391/2008) targeting a consolidated order passed by the Income Tax
Appellate Tribunal (Tribunal) on...
Commissioner of Income Tax vs. Wimco Seedlings Ltd.: Allocation of Common Expenses and Disallowance Under Section 14A of the Income Tax Act, 1961 – Scope of "In Relation To" and Application of Judicial Consistency vs. Precedent in Maxopp Investment Ltd.
Facts of the Case
The
Revenue filed three appeals against a common judgment of the Income Tax
Appellate Tribunal (ITAT) dated 22.02.2008.
The
appeals correspond to multiple assessment years: ITA No...
Commissioner of Income Tax v. M/s EHPT India Private Limited: Validity of Head-Count Method for Allocation of Indirect Expenses Between Tax-Exempt STP and Taxable Non-STP Units and the Applicability of the Rule of Consistency Under Section 10A of the Income-Tax Act, 1961
Facts of the Case
The
Assessee's Business: The respondent-assessee is a private
limited company resident in India. During the assessment years (AY)
2001-02 and 2002-03, it operated two distinct busine...
Commissioner of Income Tax vs. M/s Thirani Chemicals Ltd.: Whether Expansion of Existing Production Capacity Constitutes Setting Up of a New Industrial Undertaking for Eligibility of Deductions Under Sections 80HH and 80I of the Income Tax Act, 1961
Facts of the Case
Appeals
Filed: The revenue/appellant filed two appeals before the High
Court: ITA No. 1006/2005 (for the Assessment Year 1994-1995) and ITA
No. 457/2007 (for the Assessment Year 1996...
Commissioner of Income Tax vs. EHPT India P. Ltd. | Section 10A Indirect Expenses Apportionment: Head-Count vs. Turnover Method
Facts of the Case
The
Assessee: The respondent-assessee is an Indian private
limited company that operated two distinct divisions during the relevant
assessment years (AY 2001-02 and AY 2002-03):
...
Commissioner of Income Tax vs. EHPT India P. Ltd. | Section 10A Indirect Expenses Apportionment: Head-Count vs. Turnover Method
Facts of the Case
The
Assessee: The respondent-assessee is an Indian
private limited company that operated two distinct divisions during the
relevant assessment years (AY 2001-02 and AY 2002-03):
...
Commissioner of Income Tax vs. M/s Alankar Radio Equipments: Validity of Block Assessment Additions and the Application of the Telescoping Principle on Rotational Capital in High-Turnover Wholesale Cash Trades
Facts of the Case
The
Assessee: The respondent is a partnership firm
consisting of a father and son, primarily engaged in the wholesale
business of buying and selling audio cassettes belonging to Supe...
Mira Kulkarni vs. Assistant Commissioner of Income Tax: Allowability of Business Expenses Under Section 37(1) Absent Express Contractual Stipulation
Facts of the Case
Assessee
Profile & Agreement: The appellant, Mira
Kulkarni, is an individual and part-owner of an 11½-acre property located
at Anand Kashi Farms, Tehri Garwal, Uttaranchal. On A...
Commissioner of Income Tax vs. Integrated Technologies Ltd. | Section 32 of Income Tax Act, 1961: Allowance of Depreciation on "Passive Use" of Plant and Machinery During Temporary Lull in Business Activities
Facts of the Case
Assessee
& Return Filing: The assessee, a company engaged in
the manufacturing of printed circuit boards, filed its return of income
for the assessment year 2004–05 decla...