M/S.BRINDAVAN BEVERAGES PVT. LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

68,196/-. The assessee has claimed an amount of Rs.2,99,00,000/- as depreciation on windmill @ 100% of the cost of windmill. In the order of assessment, the AO has restricted the claim for depreciation on windmill to 1/15th of its cost i.e, Rs.19,19,333/-and recomputed the ‘book profits’ u/s 115JB of the Act at Rs.2

M/S.BRINDAVAN BEVERAGES PVT. LTD.,,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, BANGALORE

Bench: Shri N.V. Vasudevan, Vice Preseident & Shri Padmavathy S

68,196/-. The assessee has claimed an amount of Rs.2,99,00,000/- as depreciation on windmill @ 100% of the cost of windmill. In the order of assessment, the AO has restricted the claim for depreciation on windmill to 1/15th of its cost i.e, Rs.19,19,333/-and recomputed the ‘book profits’ u/s 115JB of the Act at Rs.2

DCIT, UDUPI vs. M/S MANIPAL ACADEMY OF HIGHER EDUCATION, MANIPAL

In the result, the appeal of the revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri Jason P Boaz

68, the Calcutta High Court, while construing the expression "expenditure incurred" in s. 44A of the Act, observed : "depreciation claimed shall include the expenditure incurred." 16. There are only two recognised methods of accounting : (i) cash basis, and (ii) merecantile basis. Under the cash basis only cash transactions are recorded. It is only cash receipts and cash payments which find