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M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007

For Respondent: Commissioner of Income Tax, Delhi-I

44,507.29 = Rs. 15,53,487.72) to the following year. By the assessment order dated 30.03.1999, the Deputy Commissioner of Income-Tax assessed the appellant’s income at a figure of Rs. 47,03,120.00. This was because: (i) Disallowance of claim of depreciation of purchase and lease of cinematographic films held to be bogus