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Income Tax Reference on Capital vs. Revenue Expenditure: Whether Complete Structural Demolition and Reconstruction of Factory Cell Rooms Constitute Capital Asset Creation, and Whether Replacement of Integrated Plant Machinery Components Qualifies as Allowable Current Revenue Repairs under Sections 31(1) and 37(1) - Commissioner of Income Tax Vs. M/s. Modi Industries Limited
Facts of the Case
During
the assessment year 1982-83, the assessee, M/s. Modi Industries Limited,
claimed a total deduction of ₹26,50,090/- under the head "Repairs of
Plant and Machinery" specifical...
Commissioner of Income Tax vs. Sikka Overseas Pvt. Ltd. (2010) – Addition under Section 68 and Penalty Proceedings Cannot Survive When Assessee Discharges Initial Burden
Facts of the CaseThe Revenue filed two appeals before the Delhi High
Court under Section 260A of the Income Tax Act, 1961 challenging a common order
passed by the Income Tax Appellate Tribunal (ITAT) for As...
Commissioner of Income Tax-V vs Perot Systems TSI (India) Ltd. [Delhi High Court] – Section 10A Exemption on Reimbursement of Expenses and Nature of Lease Rent Expenditure
Facts of the
CaseThe assessee, Perot Systems TSI (India) Ltd., was
engaged in the business of manufacture and export of computer software through
STP units located at Noida, Gurgaon and Chennai.For Assessment Year 199...
The Commissioner of Income Tax vs. Sh. Anil Minda (with Connected Appeals of Sh. J.P. Minda, Sh. Vandana Minda, & Ms. Gayatri Minda): Interpretation of Section 158BE and Section 132(1) of the Income Tax Act, 1961 Regarding Period of Limitation for Block Assessment and Date of Execution of Last Authorization for Search vs. Last Drawn Panchnama
Facts of the Case
The
Parties and Group: The cases involved individual
assessees (Sh. Anil Minda, Sh. J.P. Minda, Sh. Vandana Minda, and Ms.
Gayatri Minda) belonging to the Minda Group of business, wh...
Commissioner of Income Tax (CIT) vs. Nalwa Sons Investment Ltd. – Delhi High Court Dismisses Revenue Appeals; No Substantial Question of Law Arises under the Income-tax Act
Facts of the
CaseThe Revenue preferred appeals before the Delhi High
Court in ITA Nos. 1337/2009 and 1356/2009. During the hearing, it was noted
that the controversy involved in the present appeals had already b...
CIT v. M/s Nalwa Sons Investment Ltd. & Connected Appeals – No Question of Law Arises on MAT Tax Liability under Section 115JB of the Income Tax Act | Delhi High Court
Facts of the CaseThe Revenue preferred appeals before the Delhi High
Court in ITA Nos. 1337/2009 and 1356/2009. The controversy raised in these
appeals was identical to the issue already adjudicated by the Delhi High C...
Commissioner of Income Tax vs. M/s. Xerox Modicorp Limited: Whether Reassessment Under Section 147 Beyond Four Years is Valid Absent Misrepresentation, and Permissibility of Investment Allowance Under Section 32A for Office Apparatus, Xerographic Machines, Toners, Developers, and Photoreceptors Covered Under Eleventh Schedule
Facts of the Case
Core
Business and Initial Filing: The Assessee, M/s. Xerox
Modicorp Limited, is engaged in the primary business of manufacturing and
marketing xerographic copiers, toners, developers...
Commissioner of Income Tax vs. Sikka Overseas Pvt. Ltd. | Delhi High Court | Addition under Section 68 and Penalty Proceedings – Burden of Proof Discharged by Assessee
Facts of the
Case
The assessee, Sikka Overseas Pvt. Ltd., was subjected to assessment
proceedings for Assessment Year 2005-06.
During assessment, the Assessing Officer observed that although
confirmation...
Commissioner of Income Tax v. Anil Kumar Batra [2010] 2010:DHC:4795-DB (Delhi High Court) – Additions Based on Estimation Without Evidence Cannot Be Sustained under Sections 144 & 145(3) of the Income Tax Act
Facts of the
CaseA search and seizure operation was conducted at the
premises of the assessee, Anil Kumar Batra, on 08 January 2004. During
assessment proceedings relating to Assessment Year 1998-99, the Assessing
Of...
COMMISSIONER OF INCOME TAX vs. TRIVENI ENGINEERING & INDUSTRIES LTD. - Whether Unrecoverable Lease Security Deposits and Irrecoverable Employee Advances Inherited Post-Amalgamation Constitute Deductible Business Trading Losses Under Section 28 of the Income Tax Act, 1961
FACTS OF THE CASE
The
respondent-assessee, M/s Triveni Engineering & Industries Ltd., filed
its statutory income tax return for the Assessment Year 2000-01, declaring
a total net loss of ₹12.58 ...