PRINCIPAL COMMISSIONER OF INCOME TAX -3, KOLKATA vs. M/S. ITC LIMITED

Appeal is allowed to the extent indicated

Bench: HON'BLE JUSTICE SURYA PRAKASH KESARWANI,HON'BLE JUSTICE RAJARSHI BHARADWAJ

depreciation on the same will be claimed by ITC. However, it is mutually agreed that in the event of termination of this Agreement in the manner referred to in Article XVII below or on expiry of this Agreement by efflux of time the Assets will belong to EHIL and ITC shall have no right to them. An inventory of Fixed