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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:
...
M/s. Biotech International Ltd. & Anr. vs Assistant Commissioner of Income Tax | Reassessment Proceedings Valid Despite Earlier Assessment Being Quashed for Non-Service of Notice under Section 143(2) – Delhi High Court
Facts of the
Case
The assessee filed its return of income under Section 139(1) for AY
2001-02 claiming deduction under Section 80-IA.
The Assessing Officer completed scrutiny assessment under Section
143...
Commissioner of Income Tax vs. Assessee – Whether Expenditure Incurred Was Capital Expenditure or Revenue Expenditure – Appeals Dismissed by Delhi High Court under Section 260A of the Income-tax Act, 1961
Facts of the
Case
The Revenue preferred appeals before the Delhi High Court
challenging the treatment of certain expenditure claimed by the assessee.
The dispute centered on whether the expenditure const...
Delhi High Court Upholds Deductibility of Low-Value Promotional Gifts and Business Promotion Expenses Under Section 37(1) – CIT vs. M/s. C.B. K.R. Enterprises
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...
Commissioner of Income Tax vs Transport Assessee (ITA No. 1070/2009) – Delhi High Court Upholds Business Expediency in Freight Transport Operations under Section 143(1) of the Income Tax Act, 1961
Facts of the
CaseThe assessee, engaged in the transport business,
filed the return of income for Assessment Year 2003-04 declaring total income
of Rs. 21,41,987/-. During assessment proceedings, the Assessing Officer ...
Atul Babbar, Advocate v. Sonia Mathur, Advocate (In re: Dismissal of Writ Petition as Withdrawn under Article 226 of the Constitution of India)
Facts
of the CaseThe petitioner instituted the Writ
Petition (Civil) No. 8870/2009 before the Division Bench of the High Court of
Delhi. When the matter was called for a regular hearing on July 16, 2009, the
petition...
Commissioner of Income Tax vs. Moving Picture Company (India) Ltd.: Scope of Section 194J vs. Section 194H Regarding TV Serial Rights Acquisition and Trade Discounts to Advertising Agencies
Facts of the Case
Assessee's
Business Operations: The assessee, Moving Picture Company
(India) Ltd., entered into financial transactions spanning Assessment
Years 2000-01 and 2001-02.
Transaction
...
The Commissioner of Income Tax Vs. Moving Picture Company (India) Ltd. – Scope of TDS under Section 194J on Production Cost of Television Serials and Applicability of Section 194H on Trade Discounts Retained by Advertising Agencies
Facts of the Case
The
Assessee, Moving Picture Company (India) Ltd., made payments to its
subsidiary, TVAM (India) Pvt. Ltd., representing the cost of production
(plus a 7.5% profit margin) for a tele...