27 ITR 34, CIT Vs. Panbari Tea Company Limited (1965) 57 ITR 422 and Durga Madira Sangh v. Commissioner of Income Tax

Hero Motocorp Limited, New Delhi vs. JCIT, New Delhi

In the result appeal of the assessee in ITA No

Bench: Sh. I. C. Sudhir & Shri Prashant Maharishihero Motocorp Limited, Jcit, 34, Basant Lok, Vasant Range-1, New Delhi Vs. Vihar, New Delhi Pan: Aaach0812J (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community Vs. New Delhi Centre, Basant Lok, Vasant Vihar, New Delhi-110057 (Appellant) (Respondent) Dcit, M/S. Hero Moto Corp. Circle-11(1), Ltd., 34, Community

…uld be amortized. At the same time, there are other rulings by the Supreme Court in (Assam Bengal Cement Company Limited Vs. CIT (1955) 27 ITR 34, CIT vs. Panbari Tea Company Limited (1965) 57 ITR 422 and DurgaMadiraSangh vs. Commissioner of Income Tax (1969) 72 ITR 769. In all these cases, the Court upheld the Revenue‘s contention and stated that the expenditure towards acquisition of lease amounted to "brining into existence an asset or advantage for enduring benefit of the business" and was properly attributable by way of capital expenditure – of (Assam Bengal Cement Co Limited). In Panbari Tea Company Limited…

Gail India Ltd

…ortized. At the same time, there are other rulings by the Supreme Court in (Assam Bengal Cement Company Limited Vs. CIT (1955) 27 ITR 34, CIT Vs. Panbari Tea Company Limited (1965) 57 ITR 422 and Durga Madira Sangh Vs. Commissioner of Income Tax (1969) 72 ITR 769. In all these cases, the Court upheld the Revenue’s contention and stated that the expenditure towards acquisition of lease amounted to “brining into existence an asset or advantage for enduring benefit of the business” and was properly attributable by way of capital expenditure – cf (Assam Bengal Cement Co Limited). In Panbari Tea Compan…

Gail India Ltd

…ortized. At the same time, there are other rulings by the Supreme Court in (Assam Bengal Cement Company Limited Vs. CIT (1955) 27 ITR 34, CIT Vs. Panbari Tea Company Limited (1965) 57 ITR 422 and Durga Madira Sangh Vs. Commissioner of Income Tax (1969) 72 ITR 769. In all these cases, the Court upheld the Revenue’s contention and stated that the expenditure towards acquisition of lease amounted to “brining into existence an asset or advantage for enduring benefit of the business” and was properly attributable by way of capital expenditure – cf (Assam Bengal Cement Co Limited). In Panbari Tea Compan…

M/S. Gail India Limited vs. The Joint Commissioner of Income Tax

…ortized. At the same time, there are other rulings by the Supreme Court in (Assam Bengal Cement Company Limited Vs. CIT (1955) 27 ITR 34, CIT Vs. Panbari Tea Company Limited (1965) 57 ITR 422 and Durga Madira Sangh Vs. Commissioner of Income Tax (1969) 72 ITR 769. In all these cases, the Court upheld the Revenue’s contention and stated that the expenditure towards acquisition of lease amounted to “brining into existence an asset or advantage for enduring benefit of the business” and was properly attributable by way of capital expenditure – cf (Assam Bengal Cement Co Limited). In Panbari Tea Compan…

M/S. Gail India Limited vs. The Joint Commissioner of Income Tax

…ortized. At the same time, there are other rulings by the Supreme Court in (Assam Bengal Cement Company Limited Vs. CIT (1955) 27 ITR 34, CIT Vs. Panbari Tea Company Limited (1965) 57 ITR 422 and Durga Madira Sangh Vs. Commissioner of Income Tax (1969) 72 ITR 769. In all these cases, the Court upheld the Revenue’s contention and stated that the expenditure towards acquisition of lease amounted to “brining into existence an asset or advantage for enduring benefit of the business” and was properly attributable by way of capital expenditure – cf (Assam Bengal Cement Co Limited). In Panbari Tea Compan…