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2 results for “depreciation”+ Section 2(22)clear

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Key Topics

Section 260A2

PR. COMMISSIONER OF INCOME TAX vs. M/S BRAHMAPUTRA CRACKER AND POLYMER LIMITED....b

ITA/16/2022HC Gauhati11 Apr 2023

Bench: HONOURABLE THE CHIEF JUSTICE,HONOURABLE MR. JUSTICE SOUMITRA SAIKIA

Section 260A

2,961 Equity 1,269 Total 8,920 8. It was contended that the assessee received capital subsidy from the MoCF for setting up the Project. The MoCF specifically prescribed the purposes Page No.# 6/14 and the manner in which the subsidy was to be utilized and the assessee was under an obligation to utilize the capital subsidy as specified

THE PRINCIPAL COMMISSIONER OF INCOME TAX AND ANR. vs. M/S GREENPLY INDUSTRIES LIMITED

ITA/6/2023HC Gauhati03 Mar 2025

Bench: Honourable The Chief Justice Honourable Mr. Justice N. Unni Krishnan Nair Date Of Hearing : 25.02.2025 Date Of Judgment & Order : 04.03.2025

For Respondent: B SARMA, DR. ASHOK SARAF,MR P BARUAH,MR. N N
Section 115
Section 143(3)
Section 260A

22. In the light of above decision as well as the Memorandum issued by the Ministry of Commerce & Industry, we find that the excise duty exemption is purely capital receipt and is neither chargeable to tax under the normal provisions of the Income Tax Act nor is to be included as part of the book profit for computing the minimum