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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...
Commissioner of Income Tax vs. Rajan Nanda & Ors. | Taxability of Keyman Insurance Policy Assignment & Business Expenditure under Section 37(1) and Section 17
Facts of the Case
The
assessee company, Escorts Heart Institute & Research Centre Ltd.,
routinely took out "Keyman Insurance Policies" on the lives of
its key employees and directors, specif...
Airport Authority of India vs. Commissioner of Income Tax: CAPITAL VS. REVENUE EXPENDITURE—Deductibility of Encroachment Removal Provisions and Accrual of Income on Proforma Invoices Under Section 37(1) and Section 5 of the Income Tax Act, 1961.
Facts of the Case
The
Assessee: The appellant, Airport Authority of India
(AAI), is a statutory body corporate constituted under the International
Airports Authority of India Act, 1972, and subs...
Commissioner of Income Tax vs. Rajan Nanda, Dr. Naresh Kumar Trehan, and Escorts Heart Institute and Research Centre Ltd. (2011) – Taxability of Keyman Insurance Policy Premium, Surrender Value, and Maturity Proceeds under Sections 10(10D), 17(3)(ii), and 37(1) of the Income Tax Act, 1961
Facts of the Case
Taking
of Keyman Policy: The assessee company, Escorts Heart
Institute & Research Centre Ltd., purchased "Keyman Insurance
Policies" from the Life Insurance Corporation of India ...
Commissioner of Income Tax v. Rajan Nanda & Ors. (2011) Alternative Citation Reference: CIT vs. Rajan Nanda, Dr. Naresh Kumar Trehan, and Escorts Heart Institute and Research Centre Ltd. | 2011:DHC:11964-DB (Also referenced under 2011:DHC:6493-DB)
1. Facts of the Case
The
Corporate Assessee & Key Executives: The corporate
entity involved is M/s Escorts Heart Institute & Research Centre
Ltd. (the employer company). The company purchased ...