THE COMMISSIONER OF INCOME TAX vs. M/S WIPRO LTD

In the result, the appeals are partly allowed

Bench: B.MANOHAR,DILIP B.BHOSALE

3,19,766 incurred by the assessee in dismantling and shifting the factory from Sitalpur and erecting the factory and fitting the machinery at Garaul was expenditure of a capital nature and not revenue expenditure within the meaning of Section 10(2)(xv) of the I.T.Act? in paragraph three of the judgment observed thus: 20 “3.Considering the matter apart from

THE PRINCIPAL COMMISSIONER vs. M/S OBULAPURAM MINING

Bench: K.SOMASHEKAR,UMESH M ADIGA

253 ITR 0749 (Guj). 29.Learned counsel for the respondent/assessee relied upon Section 309(1) of the Companies Act, 1956, which reads as under “309. Remuneration of directors.-(1) The remuneration payable to the directors of a company, including any managing or whole- time director, shall be determined, in accordance with and subject to the provisions of section 198 and this

M/S FIDELITY BUSINESS SERVICES INDIA PVT LTD vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: S.SUJATHA,VINEET KOTHARI

253 of the Act. 21. Section 254 of the Act delineates the powers of the Tribunal. We are not presently deciding the taxability part of such buy-back of the shares by the Company because that would essentially depend upon the fresh inquiry or investigation upon remand by the learned Tribunal vide impugned Order dated Date of Judgment