CIT v. Upasana

225 ITR 845High Court1997#2855 most cited

What is CIT v. Upasana authority for?

Expenditure incurred by a holding company for making investments in a subsidiary can be treated as business expenditure and is not disallowable, as such investment activity can itself constitute a business.

41

judgments rely on this decision, according to BharatTax’s citation analysis of 366,005 Indian tax judgments — from 2011 to 2025.

Also referred to as

CIT v. Upasana · Upasana Hospital · section 2(13) · section 37(1) · business expenditure · holding company investments · subsidiary company · disallowance of expenditure · definition of business · profits and gains of business or profession

Sections most often in play

Section 143(3)Section 14ASection 2(13)Section 271(1)(c)Section 36(1)(iii)Section 37(1)Section 71Section 80M

Issues it is cited on

section 2(13)section 80msection 71legal expensesamalgamationprofits and gains of business or professionsection 36(1)(iii)section 37(1)section 37section 14asection 271(1)income from other sources

Judgments citing CIT v. Upasana

Lucknow Development Authority, Lucknow vs. DCIT (E), Lucknow

In the result, all the appeals of the assessee are partly allowed

ITA 665/LKW/2019[2012-13]Status: DisposedITAT Lucknow05 Apr 2022AY 2012-13

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 12Section 13(1)(c)Section 13(3)Section 143(3)Section 147Section 154Section 2(15)Section 40

…I.T.A. Nos.656, 665 & 666/Lkw/2019 1 Assessment year:2012-13 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER I.T.A. Nos.656, 665 & 666/Lkw/2019 Assessment year:2012-13 M/s Lucknow Development Vs. Dy.C.I.T. (Exemption), Authority, Lucknow. Naveen Bhawan, Vipin Khand, Gomti Nagar, Lucknow. PAN:AAALL0016F (Appellant) (Respondent) Appellant By Ms. Shweta Mittal, C.A. Respondent by Smt. Sheela Chopra, CIT (D.R.) Date of hearing 07/03/2022 Date of pronouncement 05/04/2022 O R D E R PER BENCH: This is a group of thre…

Lucknow Development Authority, Lucknow vs. DCIT (E), Lucknow

In the result, all the appeals of the assessee are partly allowed

ITA 656/LKW/2019[2012-13]Status: DisposedITAT Lucknow05 Apr 2022AY 2012-13

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 12Section 13(1)(c)Section 13(3)Section 143(3)Section 147Section 154Section 2(15)Section 40

…I.T.A. Nos.656, 665 & 666/Lkw/2019 1 Assessment year:2012-13 IN THE INCOME TAX APPELLATE TRIBUNAL LUCKNOW BENCH ‘A’, LUCKNOW BEFORE SHRI A. D. JAIN, VICE PRESIDENT AND SHRI T. S. KAPOOR, ACCOUNTANT MEMBER I.T.A. Nos.656, 665 & 666/Lkw/2019 Assessment year:2012-13 M/s Lucknow Development Vs. Dy.C.I.T. (Exemption), Authority, Lucknow. Naveen Bhawan, Vipin Khand, Gomti Nagar, Lucknow. PAN:AAALL0016F (Appellant) (Respondent) Appellant By Ms. Shweta Mittal, C.A. Respondent by Smt. Sheela Chopra, CIT (D.R.) Date of hearing 07/03/2022 Date of pronouncement 05/04/2022 O R D E R PER BENCH: This is a group of thre…

Lucknow Development Authority, Lucknow vs. DCIT (E), Lucknow

In the result, all the appeals are partly allowed

ITA 439/LKW/2019[2016-17]Status: DisposedITAT Lucknow10 Mar 2022AY 2016-17

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 11rSection 12Section 12ASection 13(1)(c)Section 13(3)Section 143(3)Section 147Section 148Section 2(15)

…ord 'business' is a wider term than, and not synonymous with, trade; and means practically anything which is an occupation as distinguished from a pleasure [ Halsbury's Laws of England, Third Edition, Vo1.38, page 10, quoted in CIT v. Upasana hospital, (19970 225 ITR 845,851 (Ker). Also see, CIT v. Delhi Transport Corporation, (1996) 134 Taxation 386, 392-93 (Del)]. 'Business' is a word which has more extensive I meaningthat trade. All trade is business but all business is not trade [Vijaya Bank v. A.N. Tewari, (1995) 83 Taxman 340,342 (Del)]." The aforesaid Commentary further explains "business" as under on Pag…

Lucknow Development Authority, Lucknow vs. ACIT (E), Lucknow

In the result, all the appeals are partly allowed

ITA 186/LKW/2019[2013-14]Status: DisposedITAT Lucknow10 Mar 2022AY 2013-14

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 11rSection 12Section 12ASection 13(1)(c)Section 13(3)Section 143(3)Section 147Section 148Section 2(15)

…ord 'business' is a wider term than, and not synonymous with, trade; and means practically anything which is an occupation as distinguished from a pleasure [ Halsbury's Laws of England, Third Edition, Vo1.38, page 10, quoted in CIT v. Upasana hospital, (19970 225 ITR 845,851 (Ker). Also see, CIT v. Delhi Transport Corporation, (1996) 134 Taxation 386, 392-93 (Del)]. 'Business' is a word which has more extensive I meaningthat trade. All trade is business but all business is not trade [Vijaya Bank v. A.N. Tewari, (1995) 83 Taxman 340,342 (Del)]." The aforesaid Commentary further explains "business" as under on Pag…

Lucknow Development Authority, Lucknow vs. ACIT (E), Lucknow

In the result, all the appeals are partly allowed

ITA 185/LKW/2019[2013-14]Status: DisposedITAT Lucknow10 Mar 2022AY 2013-14

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 11rSection 12Section 12ASection 13(1)(c)Section 13(3)Section 143(3)Section 147Section 148Section 2(15)

…ord 'business' is a wider term than, and not synonymous with, trade; and means practically anything which is an occupation as distinguished from a pleasure [ Halsbury's Laws of England, Third Edition, Vo1.38, page 10, quoted in CIT v. Upasana hospital, (19970 225 ITR 845,851 (Ker). Also see, CIT v. Delhi Transport Corporation, (1996) 134 Taxation 386, 392-93 (Del)]. 'Business' is a word which has more extensive I meaningthat trade. All trade is business but all business is not trade [Vijaya Bank v. A.N. Tewari, (1995) 83 Taxman 340,342 (Del)]." The aforesaid Commentary further explains "business" as under on Pag…

Lucknow Evelopment Authority, Lucknow vs. I.T.O., Lucknow

In the result, all the appeals are partly allowed

ITA 164/LKW/2019[2015-16]Status: DisposedITAT Lucknow10 Mar 2022AY 2015-16

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 11rSection 12Section 12ASection 13(1)(c)Section 13(3)Section 143(3)Section 147Section 148Section 2(15)

…ord 'business' is a wider term than, and not synonymous with, trade; and means practically anything which is an occupation as distinguished from a pleasure [ Halsbury's Laws of England, Third Edition, Vo1.38, page 10, quoted in CIT v. Upasana hospital, (19970 225 ITR 845,851 (Ker). Also see, CIT v. Delhi Transport Corporation, (1996) 134 Taxation 386, 392-93 (Del)]. 'Business' is a word which has more extensive I meaningthat trade. All trade is business but all business is not trade [Vijaya Bank v. A.N. Tewari, (1995) 83 Taxman 340,342 (Del)]." The aforesaid Commentary further explains "business" as under on Pag…

Lucknow Development Authority, Lucknow vs. Assistant Commissioner of Income Tax (Exemption), Lucknow

In the result, all the appeals are partly allowed

ITA 163/LKW/2019[2014-15]Status: DisposedITAT Lucknow10 Mar 2022AY 2014-15

Bench: Shri A. D. Jain & Shri T. S. Kapoor

Section 11Section 11rSection 12Section 12ASection 13(1)(c)Section 13(3)Section 143(3)Section 147Section 148Section 2(15)

…ord 'business' is a wider term than, and not synonymous with, trade; and means practically anything which is an occupation as distinguished from a pleasure [ Halsbury's Laws of England, Third Edition, Vo1.38, page 10, quoted in CIT v. Upasana hospital, (19970 225 ITR 845,851 (Ker). Also see, CIT v. Delhi Transport Corporation, (1996) 134 Taxation 386, 392-93 (Del)]. 'Business' is a word which has more extensive I meaningthat trade. All trade is business but all business is not trade [Vijaya Bank v. A.N. Tewari, (1995) 83 Taxman 340,342 (Del)]." The aforesaid Commentary further explains "business" as under on Pag…

Asian Oilfield Service Ltd., Baroda vs. The Dy.CIT., Circle-1(1), Baroda

In the result, appeal of the assessee for the A

ITA 144/AHD/2013[2009-10]Status: DisposedITAT Ahmedabad17 Feb 2021AY 2009-10

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Dharmesh ShahFor Respondent: Shri Brajendra Kumar
Section 143(3)

…34. Similar view has been expressed by the Gauhati High Court in CIT v. Down Town Hospital (P.) Ltd. [2004] 267 ITR 439/139 25 ITA.No. 144/AHD/2013 (A.Y: 2009-10) Asian Oilfield Services Limited Taxman 247, Kerala High Court in CIT v, Upasana Hospital [1997] 225 ITR 845/12 996] 89 Taxman 525. The issue, which we are concerned with, is a fiscal issue which is concerned with a central statute. It is desirable that in such a matter there should be uniformity of the judicial opinion. Even on merits, the analogy has some substance. We, therefore, in the light of aforestated, decide this issue in the favour of the ass…

Asian Oilfield Services Ltd., Baroda vs. The Dy.CIT., Circle-1(1), Baroda

In the result, appeal of the assessee for the A

ITA 1266/AHD/2012[2008-09]Status: DisposedITAT Ahmedabad17 Feb 2021AY 2008-09

Bench: Shri C.N. Prasad, Hon'Ble & Shri N.K. Pradhan, Hon'Ble&

For Appellant: Shri Dharmesh ShahFor Respondent: Shri Brajendra Kumar
Section 143(3)

…34. Similar view has been expressed by the Gauhati High Court in CIT v. Down Town Hospital (P.) Ltd. [2004] 267 ITR 439/139 25 ITA.No. 144/AHD/2013 (A.Y: 2009-10) Asian Oilfield Services Limited Taxman 247, Kerala High Court in CIT v, Upasana Hospital [1997] 225 ITR 845/12 996] 89 Taxman 525. The issue, which we are concerned with, is a fiscal issue which is concerned with a central statute. It is desirable that in such a matter there should be uniformity of the judicial opinion. Even on merits, the analogy has some substance. We, therefore, in the light of aforestated, decide this issue in the favour of the ass…

Hls Asia Ltd., New Delhi vs. DCIT, New Delhi

ITA 4144/DEL/2014[2007-08]Status: DisposedITAT Delhi24 Feb 2020AY 2007-08

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

DCIT, New Delhi vs. M/S. Hls Asia Ltd., New Delhi

ITA 2241/DEL/2014[2008-09]Status: DisposedITAT Delhi24 Feb 2020AY 2008-09

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

M/S. Hls Asia Ltd., New Delhi vs. ACIT, New Delhi

ITA 2208/DEL/2014[2008-09]Status: DisposedITAT Delhi24 Feb 2020AY 2008-09

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

Hls Asia Ltd., New Delhi vs. CIT- IV, New Delhi

ITA 5511/DEL/2012[2007-08]Status: DisposedITAT Delhi24 Feb 2020AY 2007-08

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

Hls Asia Ltd., New Delhi vs. CIT, New Delhi

ITA 3708/DEL/2012[2006-07]Status: DisposedITAT Delhi24 Feb 2020AY 2006-07

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

DCIT, New Delhi vs. M/S. Hls Asia Ltd., New Delhi

ITA 323/DEL/2012[2005-06]Status: DisposedITAT Delhi24 Feb 2020AY 2005-06

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

ACIT, New Delhi vs. M/S. Hls Asia Ltd., New Delhi

ITA 5855/DEL/2011[2006-07]Status: DisposedITAT Delhi24 Feb 2020AY 2006-07

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Sanjay Malik, AdvocateFor Respondent: Shri Saras Kumar, Senior DR
Section 80

…IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘C’ : NEW DELHI) BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER and SHRI KULDIP SINGH, JUDICIAL MEMBER ITA No.1712/Del./2010 (Assessment Year : 2004-05) ITA No.4144/Del./2014 (Assessment Year : 2007-08) ITA No.2208/Del./2014 (Assessment Year : 2008-09) M/s. HLS Asia Ltd., vs. DCIT, Circle 12 (1), 109, Aurobindo Place Market, New Delhi. Hauz Khas, New Delhi. (PAN : AAACH0627H) ITA No.3708/Del./2012 (Assessment Year : 2006-07) ITA No.5511/Del./2012 (Assessment Year : 2007-08) M/s. HLS Asia Ltd., vs. Addl.CIT, Range 12, 109, Aurobindo Place Market, New Delhi. Ha…

Oil Field Instrumentation (India) Pvt. Ltd., Mumbai vs. Addl. CIT RG. 1(2) & CIT (OSD), Mumbai

In the result, appeal filed by the assessee is allowed for

ITA 6661/MUM/2017[2012-13]Status: DisposedITAT Mumbai31 Jul 2019AY 2012-13

Bench: Shri G. Manjunatha & Shri Ram Lal Negim/S. Oil Field Instrumentation Vs. Add.Cit Rg.1(2) & (India) Pvt.Ltd. Cit(Osd) 3Rd Floor, Liberty Building 5Th Floor, Aaykar Bhawan Sir Vithaldas Thackersey Marg M.K.Road New Marine Lines Mumbai-400 020 Mumbai-400 020 Pan/Gir No.Aaaco4870H Appellant) .. Respondent)

Section 143(3)Section 32(1)(iia)

…nce under section The Hon'ble Delhi High Court relied upon the case of CIT v. Dr. S. Surender Reddy [2000] 243 ITR 110 (AP)(HC),Gauhati High Court in UT v. Down Town Hospital (P.) Ltd. [2004] 267 ITR 439 and Kerala High Court in CIT v. Upasana Hospital [19971 225 ITR 845. Considering these Judgements, the Hon'ble Court held that 'The issue, which we are concerned with, is a fiscal issue which is concerned with a central statute. It is desirable that in such a matter there should be uniformity of the judicial opinion. Even on merits, the analogy has some substance. We, therefore, in the light of aforestated, decid…

Oil Field Instrumentation (India) Pvt. Ltd., Mumbai vs. Addl. CIT RG. 1(2) & CIT (OSD), Mumbai

ITA 2233/MUM/2016[2011-12]Status: DisposedITAT Mumbai28 Feb 2018AY 2011-12

Bench: Shrir. C. Sharma, Am & Shri Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 2233/Mum/2016 (निर्धारणवर्ा / Assessment Year:2011-12)

For Appellant: Sh. M. C. OmiFor Respondent: Dr. K. Shivaram & Shri
Section 143(3)Section 14ASection 32(1)Section 32(1)(iia)Section 40A(2)

…IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, MUMBAI BEFORE SHRIR. C. SHARMA, AM & SHRI SANDEEP GOSAIN, JM आयकरअपीलसं./ I.T.A. No. 2233/Mum/2016 (निर्धारणवर्ा / Assessment Year:2011-12) Oil Field Instrumentation (I) ACIT RG. 1(2)& CIT Pvt. Ltd. (OSD), Mumbai, 3rd floor, Liberty Bldg, Sir बिधम/ Pin- Vithaldas Thackersey Marg, Vs. New Marine Line, Mumbai-400020. & आयकरअपीलसं./ I.T.A. No. 3167/Mum/2016 (निर्धारणवर्ा / Assessment Year: 2011-12) ACIT 1(2)(2) Oil Field Room No. 535, 5TH Floor Instrumentation (I) Pvt. Aayakar Bhavan, M. K. Road, Ltd. 3rd floor, Liberty Bldg, बिधम/ Mumbai-400020. Sir Vithaldas Vs. Th…

Commissioner of Income Tax vs. M/S Hls India Ltd

The appeals are dismissed

ITA/194/2005HC Delhi11 May 2011

Bench: Coming To These Legal Issues It Would Be Pertinent, In The Light Of Facts & Circumstances Of These Cases, First Of All To Succinctly Narrate The Genesis Of Instant Prolonged Tax Dispute Between The Revenue & The Assessee.

Section 260Section 32Section 32ASection 80

…ITA Nos. 194/2005, 208/2002 & Ors. Connected Matters Page 1 of 52 * THE HIGH COURT OF DELHI AT NEW DELHI + ITA Nos.627/2005,194/2005, 515/2006, 501/2006 208/2002, 504/2006, 683/2005, 716/2005,1081/2005 899/2007, 668/2008, 296/2010 & 433/2009 Reserved on : 07.04.2011 Date of Decision : 11.05.2011 Commissioner of Income Tax Delhi-IV, New Delhi ……Appellant Through: Ms. Prem Lata Bansal, Sr. Advocate with Mr. Deepak Anand, Advocate. Versus M/s. HLS India Ltd. (Now HLS Asia Ltd.) ……Respondent Through: Mr. Ajay Vohra, Ms. Kavita Jha and Mr. Somnath Shukla,…

Commissioner of Income Tax vs. Hls Asia Limited

The appeals are dismissed

ITA/296/2010HC Delhi11 May 2011

Bench: HON'BLE MR. JUSTICE A.K.SIKRI,HON'BLE MR. JUSTICE M.L. MEHTA

Section 260Section 32Section 32ASection 80

…) * THE HIGH COURT OF DELHI AT NEW DELHI + ITA Nos.627/2005,194/2005, 515/2006, 501/2006 208/2002, 504/2006, 683/2005, 716/2005,1081/2005 899/2007 r 668/2008, 296/2010 & 433/2009 Reserved on : 07 .04.2011 Date of Decision : 11.05.2011 Commissioner of Income Tax Delhi-IV, New Delhi ••••.• Appellant Through: Ms. Prem Lata Bansal, Sr. Advocate with Mr. Deepak Anand, Advocate. M/s. HLS India Ltd. (Now HLS Asia Ltd.} Versus ...... Respondent Through: Mr. Ajay Vohra, Ms. Kavita Jha and Mr. Somnath Shukla, Advocates. CORAM: HON'BLE MR. JUSTICE A.K. SIKRI HON'BLE MR. JUSTICE M.L. MEHTA 1. 2.…