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2 results for “depreciation”+ Section 2(47)(v)clear

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Key Topics

Addition to Income2

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

Appeal is allowed to the extent indicated

ITA/125/2018HC Calcutta27 Jun 2024

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

47,74,966/-. In assessment proceedings one of the addition made by the assessment officer was of Rs. 32.42 crore received by the assesse from ELEL under an award/consent terms dated 11.05.2005 which the assesse claimed as long term capital gains while the assessing officer treated it as revenue receipt. The CIT (A) and the ITAT held

PRINCIPAL COMM OF INCOME TAX, ASANSOL vs. M/S EASTERN COALFIELDS LTD

Accordingly, the appeal fails and it is dismissed

ITAT/230/2017HC Calcutta14 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

Section 260Section 32
Section 40A(9)

47,28,000/- for the A.Y. 2004-05 and Rs. 61,31,000/- for the A.Y. 2005-06 respectively on account of ‘Grant to sports ITAT 230 of 2017 Page 4 of 14 and recreation’ being non-incidental to the business of the assessee? f) Whether on the facts and circumstances of the case and in law, the Learned Income