THE PR COMMISSIONER OF INCOME TAX vs. M/S BANGALORE INTERNATIONAL

Appeal is dismissed; and

Bench: P.S.DINESH KUMAR,UMESH M ADIGA

gain or loss shall be kept to the capital account and the same is not taxable. 6. The second substantial question of law is whether the ITAT was right in holding that assessee is entitled for set off of Book Loss of Rs.36,33,40,000/- in the computation of income under Section 115JB of the Income

THE PR COMMISSIONER OF INCOME TAX vs. M/S SWETHA REALMART LLP

Bench: KRISHNA S DIXIT,RAMACHANDRA D. HUDDAR

depreciation was claimed by the assessee is immaterial based on Supreme court decision relied upon by Tribunal in case of Sakthi Metal Depot V/s CIT (reported in (2021) 130 taxmanc.com 238 (SC)”? 2. “Whether Tribunal’s order can be said as perverse in nature in not appreciating that assessing authority and CIT(A) rightly computed short term capital gain

THE COMMISSIONER OF INCOME-TAX vs. M/S ING VYSYA BANK LTD

The appeal is dismissed

Bench: P.S.DINESH KUMAR,C.M. POONACHA

capital asset. It merely enhances the productivity or the efficiency and therefore, it has to be treated as a Revenue expenditure. 8. We may record that in Oriental Bank of Commerce Vs. Additional Commissioner of Income-tax5 has held as follows: " 7. The mere circumstance that the depreciation rate is spelt out in the Schedule to the Income

PR COMMISSIONER OF INCOME TAX-7 vs. M/S TALLY SOLUTIONS PVT LTD

In the result, the appeals fail and are hereby

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capitalized and the same was not claimed as revenue expenditure, the claim of depreciation cannot be disallowed by invoking the provisions of Section 40(a)(ia) of the Act. In the aforesaid factual background, the revenue has filed these appeals. 6. Learned counsel for the revenue submitted that the assessee had purchased the software from non 9 resident

PR. COMMISSIONER OF vs. M/S TALLY SOLUTIONS PVT LTD.,

In the result, the appeals fail and are hereby

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

capitalized and the same was not claimed as revenue expenditure, the claim of depreciation cannot be disallowed by invoking the provisions of Section 40(a)(ia) of the Act. In the aforesaid factual background, the revenue has filed these appeals. 6. Learned counsel for the revenue submitted that the assessee had purchased the software from non 9 resident

PR COMMISSIONER OF vs. M/S WIPRO LIMITED

In the result, the appeal is disposed of in terms

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

gains from business and profession under Section 32 can be disallowed specially in case, where the assessee has failed to deduct TDS on payment made to purchase of software and has claimed depreciation under Section 32 of the Act on such software. It is also pointed out that the intent of disallowance under Section

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

capital expenditure or personal expenses of the assessee) laid out or expended wholly and exclusively for the purpose of the business or profession shall be allowed in computing the income chargeable under the head “Profits and gains of business or profession…”. 44.The impugned order passed by the ITAT in ITA No.653(Bang) 2015 for the assessment year 2010-11, wherein

M/S DELHI INTERNATIONAL AIRPORT LTD vs. THE PRINCIPAL COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,S VISHWAJITH SHETTY

depreciation under section 32 on repairs and maintenance for AY 2008-09, AY 2009-10 and AY 2010-11?" - 11 - 5. Learned counsel appearing for the appellant – assessee submitted that the Tribunal erred in setting aside and restoring the issue of disallowance of collection charges under Section 40(a)(ia) of the Act pertaining to Passenger Service Fee (Security Component

THE PR. COMMISSIONER OF INCOME TAX, vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD.

Bench: S.SUJATHA,S VISHWAJITH SHETTY

depreciation under section 32 on repairs and maintenance for AY 2008-09, AY 2009-10 and AY 2010-11?" - 11 - 5. Learned counsel appearing for the appellant – assessee submitted that the Tribunal erred in setting aside and restoring the issue of disallowance of collection charges under Section 40(a)(ia) of the Act pertaining to Passenger Service Fee (Security Component

THE PR. COMMISSIONER OF INCOME TAX, vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD.,

Bench: S.SUJATHA,S VISHWAJITH SHETTY

depreciation under section 32 on repairs and maintenance for AY 2008-09, AY 2009-10 and AY 2010-11?" - 11 - 5. Learned counsel appearing for the appellant – assessee submitted that the Tribunal erred in setting aside and restoring the issue of disallowance of collection charges under Section 40(a)(ia) of the Act pertaining to Passenger Service Fee (Security Component

THE PR. COMMISSIONER OF INCOME TAX, vs. M/S. DELHI INTERNATIONAL AIRPORT PVT. LTD.,

Bench: S.SUJATHA,S VISHWAJITH SHETTY

depreciation under section 32 on repairs and maintenance for AY 2008-09, AY 2009-10 and AY 2010-11?" - 11 - 5. Learned counsel appearing for the appellant – assessee submitted that the Tribunal erred in setting aside and restoring the issue of disallowance of collection charges under Section 40(a)(ia) of the Act pertaining to Passenger Service Fee (Security Component