DEPUTY COMMISSIONER OF INCOME -TAX, CENTRAL CIRCLE-2(1), AHMEDABAD vs. M/S. CLARIS LIFESCIENCES LIMITED, AHMEDABAD
In the result, the appeal filed by the Revenue is dismissed
ITA 295/AHD/2022[2018-19]Status: DisposedITAT Ahmedabad07 Feb 2024AY 2018-19
Bench: Shri Waseem Ahmed & Shri Siddhartha Nautiyalआयकरअपीलसं./Ita No. 295/Ahd/2022 धििाधरणवरध/Asstt. Year: 2018-2019 The D.C.I.T, M/S Claris Lifesciences Limited, Central Circle-2(1), Vs. Claris Corporate Hq, Ahmedabad. Near Parimal Rly. Crossing, Ellisbridge, Ahmedabad-380006. Pan: Aaacc6366Q
For Appellant: Shri Tushar Hemani, Sr. Advocate with Shri Parimalsinh B. ParmarFor Respondent: Shri Sudhendu Das, CIT.D.R
Section 50Section 54ESection 70Section 74
gains only and cannot be extended beyond that. Thirdly, section 54E does not make any distinction between depreciable asset and non-depreciable asset and, therefore, the exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction created under section 50. Section 54E specifically provides that where capital
