Ors. (1987) 165 ITR 63 (Mad), DCIT v. McDowell & Co. Ltd. 291 ITR 107 (Kar.), CIT v. Excel Industries Limited

Shanker Trading (P) Ltd vs. The CIT

The appeals stand disposed of

…Bom), CIT v. Bowrisankara Stemp Ferry Co. (1973) 87 ITR 650 (AP), CIT v. Late G.D.Naidu and Ors. (1987) 165 ITR 63 (Mad), DCIT v. McDowell & Co. Ltd. 291 ITR 107 (Kar.), CIT v. Excel Industries Limited 122 ITR 995 (Bom.), Hindustan Times Ltd. v. CIT (1980) 122 ITR 977, Sarabhai M. Chemicals Pvt. Ltd. v. CIT 127 ITR 74 (Guj.), CIT v. Panbari Tea Company Limited 151 ITR 726 (P&H) & CIT v. Karam Chand Prem Chand (P) Ltd. 200 ITR 281 (Guj.). 27. The learned counsel for the assessee contended that since elimination of competition from the Trust did not happen simultaneous with acquisition of Katha and Cutch…

Commissioner of Income Tax vs. M/S Pepsico India Holdings Pvt Ltd

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

…ITA 319/2010,1185/2010,1448/2010,1822/2010,2091/2010 Page 1 of 18 IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 319 OF 2010 ITA 1185 OF 2010 ITA 1448 OF 2010 ITA 1822 OF 2010 ITA 2091 OF 2010 % JUDGMENT RESERVED ON:22.03.2011 JUDGMENT DELIVERED ON:30.03.2011 ITA 319/2010 THE COMMISSIONER OF INCOME TAX-V ….APPELLANT Through: Ms.Prem Lata Bansal, Sr. Advocate, Mr. Anupam Tripathi,Sr. Standing Counse, Ms.Rashmi Chopra, Advocate. VERSUS M/S PEPSICO INDIA HOLDIN…

CIT vs. Shell Bitumen India Pvt Ltd

Accordingly, present appeal, being devoid of merit, is dismissed

Bench: HON'BLE THE ACTING CHIEF JUSTICE,HON'BLE MR. JUSTICE MANMOHAN

…ss. Again, it is to be seen whether the expenditure incurred was part of the fixed capital of the business or part of its circulating capital.” 7. A Division Bench of this Court in Hindustan Times Ltd. Vs. Commissioner of Income Tax, New Delhi (1980) 122 ITR 977 has held that the word “enduring” has a special significance and that what matters is the nature of advantage in a commercial sense. The Court clarified that it is only where the advantage is in the capital field that the expenditure would be capital in nature. ITA 815/2010…

Commissioner of Income Tax vs. Bharat Aluminium Company Ltd

Accordingly, the same is dismissed without any order as to

Bench: HON'BLE THE ACTING CHIEF JUSTICE,HON'BLE MR. JUSTICE MANMOHAN

…itions, from levy of certain municipal rates and taxes and charges. In view of this, the first contention of Mr. Manchanda must be rejected.” 8. A Division Bench of this Court in Hindustan Times Ltd. Vs. Commissioner of Income Tax, New Delhi (1980) 122 ITR 977 has held that the word “enduring” has a special significance and that what matters is the nature of advantage in a commercial sense. The Court clarified that it is only where the advantage is in the capital field that the expenditure would be capital in nature. 9. In the present case, we are of the view that as the Captive Power Plan i…

Commissioner of Income Tax vs. Dart Manufacturing India Pvt. Ltd

Appeal is dismissed

…ice line was a benefit of an enduring nature to the assessee and, therefore, it was in the nature of a capital expenditure. This court relied upon an earlier decision in the case of Hindustan Times Limited v. 2008:DHC:2332-DB Commissioner of Income-tax: 122 ITR 977, wherein it was observed that:- “If the advantage consists merely in facilitating the assesse's trading operations or enabling the management and conduct of the assesse's business to be carried on more efficiently and profitably, leaving the fixed capital untouched, the expenditure would be on revenue account even though the advantage ma…