Search Results for "capital expenditure"

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Search Results for "capital expenditure"

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High Court

Madras High Court Dismisses Revenue's Appeal in Textile Mill Machinery Replacement Case - Expenditure on Replacement of Old Machinery with Modern Equivalents Held Revenue Expenditure Under Section 37(1) of Income Tax Act, 1961. The court applied the enduring benefit test and functional utility test to determine that the new machinery did not create a new asset but merely replaced existing machinery.

9 Apr 2026

The case involves appeals by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal (ITAT) allowing the assessee, M/s. ...

High Court

High Court of Bombay Examines Writ Petition Challenging Rejection of Subsidy for Grain Alcohol Production Under GR Dated 08.06.2007. Petitioner Seeks Direction to Grant Special Subsidy/Incentive of Rs. 10 Per Bulk Litre and Quashing of Rejection Order Dated 24.11.2021.

9 May 2025

The present writ petition was filed before the High Court of Judicature at Bombay under its civil appellate jurisdiction by Karan Distilleries Pvt. Lt...

Supreme Court

Supreme Court Clarifies Deduction of Broken Period Interest for Banks Treating Securities as Stock-in-TradeDeduction Allowed as Revenue Expenditure for Banks Holding Securities as Stock-in-Trade

16 Oct 2024

The Supreme Court addressed the treatment of broken period interest for tax purposes. The issue centered on whether broken period interest could be de...

High Court

Bombay High Court Dismisses Revenue's Appeal in Software Development Expenditure Case. ITAT Correctly Allowed Revenue Expenditure for New Product Development as Part of Existing Business.

2 Dec 2022

The case involves two appeals by the Pr. Commissioner of Income Tax-5 against the order of the Income Tax Appellate Tribunal (ITAT) dated 6th June 201...

Supreme Court

Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

20 Sep 2022

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...

High Court

High Court of Bombay at Goa Dismisses Revenue's Appeal in Income Tax Case — Disallowance Under Section 14A and Capital Expenditure on Bridge Construction. Tribunal's findings that no expenditure was incurred for earning dividend income and that bridge contribution was revenue expenditure upheld.

6 Nov 2020

The case involves an appeal by the Commissioner of Income Tax against the order of the Income Tax Appellate Tribunal, Panaji Bench, which had partly a...

High Court

High Court Allows Appeal of Regional Rural Bank in Income Tax Dispute — Expenditure on Raising Capital Held Allowable Under Section 36(1)(viii) of Income Tax Act, 1961. Expenditure incurred for raising capital by a regional rural bank is not capital expenditure but revenue expenditure allowable under Section 36(1)(viii) of the Income Tax Act, 1961.

28 May 2018

The appellant, M/s Pragathi Krishna Gramin Bank, a regional rural bank, filed appeals under Section 260A of the Income Tax Act, 1961 against the order...

High Court

High Court of Karnataka Allows Assessee's Appeal in Income Tax Case Regarding Disallowance of Expenditure on Technical Know-How and Interest on Delayed Payment of Sales Tax. Expenditure on Technical Know-How Held to Be Revenue in Nature and Interest on Delayed Payment of Sales Tax Held to Be Allowable Deduction Under Section 37 of the Income Tax Act, 1961.

17 Apr 2015

The appeal was filed by the assessee, M/s. Diffusion Engineers Ltd., challenging the order of the Income Tax Appellate Tribunal (ITAT) for the assessm...

High Court

Bombay High Court Dismisses Assessee's Claim for Depreciation on Share Issue Expenses Capitalised to Plant and Machinery. Expenditure on Raising Share Capital Not Part of Actual Cost Under Section 32 of Income Tax Act, 1961, and Falls Under Section 35D as Preliminary Expenses.

12 Mar 2015

The case involves an Income Tax Reference under Section 256(1) of the Income Tax Act, 1961, by the Income Tax Appellate Tribunal for the assessment ye...

High Court

High Court of Bombay Dismisses Revenue's Appeal in Modvat/CENVAT Credit Case — Assessee Entitled to Credit on Moulds Supplied by OEM Without Ownership or Lease. The court held that after the 1994 amendment, Rules 57Q and 57R of Central Excise Rules, 1944 do not require ownership or lease of capital goods for availing credit; use in manufacture is sufficient.

16 Feb 2015

The case involves an appeal by the Commissioner of Central Excise against an order of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) ...

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