THE COMMISSIONER OF INCOME-TAX vs. M/S. IBC KNOWLEDGE PARK PVT. LTD.,

In the result, the appeals filed by the Revenue

Bench: B.V.NAGARATHNA,JAYANT PATEL

depreciation on elevators, DG sets, Transformers and fixtures without appreciating that the assessee is not in the business of leasing out any of these assets and these fixtures are affixed with the building and were part of the leased are part of the leased building which do not have any independent existence and that no independent receipt/fees/ maintenance charges were

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

THE PR. COMMISIONER OF INCOME TAX vs. M/S. GMR INFRASTRUCTURE LTD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

THE PR. COMMISIONER INCOME TAX vs. M/S. GMR INFRASTRUCTURE LTD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

PR COMMISSIONER OF vs. M/S GMR HYDERABAD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

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

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

THE PR. COMMISIONER OF INCOME TAX vs. M/S. GMR INFRASTRUCTURE LTD

Appeals stand disposed of accordingly

Bench: S.SUJATHA,RAVI V HOSMANI

depreciation on capitalization of expenditure incurred during the assessment year 2007-08 and 2008-09? 2. Whether on the facts and in the circumstances of the case and in law, the Tribunal is right in law in restoring the file to assessing authority as for disallowance made by assessing authority in respect of Section 14A read with Rule

AZIM PREMJI TRUSTEE COMPANY PVT LTD vs. DEPUTY COMMISSIONER OF INCOME TAX

In the result, I pass the following:-

Bench: The Hon'Ble Mr.Justice S.R.Krishna Kumar

depreciation allowance or any other allowance or deduction for such assessment year (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year). Explanation.—For the purposes of assessment or reassessment or recomputation under this section, the Assessing Officer may assess or reassess the income in respect of any issue, which has escaped assessment

THE COMMISSIONER OF INCOME TAX vs. SRI N LEELA KUMAR

Bench: N.KUMAR,RATHNAKALA

depreciation under sub-section (2) of section 32 shall not be set off against the undisclosed income determined in the block assessment under this Chapter, but may be carried forward for being set off in the regular assessments. 7. This chapter was introduced for the assessment of undisclosed income determined as a result of carrying out search under Section 132

M/S. KARNATAKA FINANCIAL SERVICES vs. ASSISTANT COMMISSIONER OF INCOME TAX

In the result, the appeal is disposed of

Bench: ALOK ARADHE,R. NATARAJ

section 132 of the Act on the basis of which the alleged excess depreciation is to be brought to tax in the block

THE COMMISSIONER OF INCOME TAX vs. M/S V S LAD and SONS

In the result, the second

Bench: N.S.SANJAY GOWDA,ALOK ARADHE

depreciation claimed against the amount paid towards acquisition of leasehold rights over land for a period of 30 years, is a revenue expenditure and is eligible for deduction under Section 37(1) of the Income Tax Act, 1961? : 3 : 4. With consent of learned counsel for the parties, the same is heard finally. 5. Facts giving rise to filing

THE COMMISSIONER OF INCOME TAX vs. M/S CANARA BANK

In the result, we do not find any merit in this appeal, the same fails

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

depreciation claimed on the assets leased to M/s Rajender Steels Pvt. Ltd., M/s Kedia Castle Dellon Industries Ltd. And M/s Kedia Mills and Distilleries Ltd. on the ground that the assets were not found to be in existence in a search conducted under Section 132

THE COMMISSINER OF INCOME -TAX, vs. M/S CANARA BANK

In the result, we do not find any merit in this

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

depreciation claimed on the assets leased to M/s Rajender Steels Pvt. Ltd., M/s Kedia Castle Dellon Industries Ltd. and M/s Kedia Mills and Distilleries 4 Ltd. on the ground that the assets were not found to be in existence in a search conducted under Section 132

THE COMMISSIONER OF INCOME TAX GULBARGA vs. M/S MANJUNATHA COTTON AND GINNING FACTORY

The appeals are dismissed

Bench: ARAVIND KUMAR,N.KUMAR

132 of the Act at the assessee’s premises on 10.04.2003 stating that the assessee - Firm was under-invoicing and mis-declaring their import of ceramic tiles. It is stated that the assessee had changed the invoice and description in the 23 Bill of Entry after it was assessed by the Customs. The assessee was asked to submit his explanation