THE DIRECTOR OF INCOME TAX EXEMPTIONS vs. AL-AMEEN CHARITABLE FUND TRUST

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

THE DIRECTOR OF INCOME TAX vs. M/S GOKULA EDUCATION FOUNDATION

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

THE COMMISSIONER OF INCOME TAX vs. SRI ADICHUNCHUNGIRI

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

THE DIRECTOR OF INCOME TAX vs. INTERNATIONAL INSTITUTE OF INFORMATION TECHNOLOGY

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

COMMISSIONER OF INCOME vs. SRI ADICHUNCHANAGIRI

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

THE COMMISSIONER OF INCOME TAX vs. M/S KARNATAKA REDDY JANASANGHA

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to 'use' or obsolescence. It may be computed as that part of the cost of the asset which will not be recovered when the asset is finally put out of use. The object of providing for depreciation is to spread

THE COMMISIONER 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 has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

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 has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

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 has to be allowed, which has been rightly done so by the Tribunal. Substantial question of law No.1 is accordingly answered in favour of the assessee. 17. As far as the second question of law is concerned, the same relates to payment of interest of Rs.72.00 lakh on borrowed capital, as an allowable business expenditure. The contention

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

Bench: B.MANOHAR,VINEET SARAN

depreciation only after 01.04.1998, which was by the amendment in Section 32 of the Act. 25. In the present case, there is no dispute about the fact that know-how was acquired on 01.03.1998, which was prior to 01.04.1998. It is also not disputed that payment for acquiring such know-how was made only in instalments after 01.04.1998. The question

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD

Bench: B.MANOHAR,VINEET SARAN

depreciation only after 01.04.1998, which was by the amendment in Section 32 of the Act. 25. In the present case, there is no dispute about the fact that know-how was acquired on 01.03.1998, which was prior to 01.04.1998. It is also not disputed that payment for acquiring such know-how was made only in instalments after 01.04.1998. The question

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

Bench: B.MANOHAR,VINEET SARAN

depreciation only after 01.04.1998, which was by the amendment in Section 32 of the Act. 25. In the present case, there is no dispute about the fact that know-how was acquired on 01.03.1998, which was prior to 01.04.1998. It is also not disputed that payment for acquiring such know-how was made only in instalments after 01.04.1998. The question

THE COMMISSIONER OF INCOME TAX vs. M/S AMCO POWER SYSTEMS LTD.,

Bench: B.MANOHAR,VINEET SARAN

depreciation only after 01.04.1998, which was by the amendment in Section 32 of the Act. 25. In the present case, there is no dispute about the fact that know-how was acquired on 01.03.1998, which was prior to 01.04.1998. It is also not disputed that payment for acquiring such know-how was made only in instalments after 01.04.1998. The question

M/S J K INDUSTRIES LTD vs. THE JOINT COMMISSIONER OF INCOME TAX

In the result, all questions are answered against the

Bench: D.V.SHYLENDRA KUMAR,B.SREENIVASE GOWDA

Section 80HHC by deducting the unabsorbed depreciation of earlier years and in this case brought from the assessment year 1995- 96, which was in a total sum of Rs 1,99,46

M/S T T K PRESTIGE LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: The Hon’Ble Mrs.Justice S.Sujatha

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in sections 148 to 153 referred to as the relevant assessment year)." On going through the changes, quoted above, made to Section 147 of the Act, we find that, prior to Direct Tax Laws (Amendment) Act, 1987, re-opening

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

Bench: S.SUJATHA,VINEET KOTHARI

46. Mr. Aravind relied upon certain judgments also in support of his submissions which are also briefly discussed below. 47. In Commissioner of Income Tax Vs. Mahalakshmi Textile Mills Ltd. [1967] 66 ITR 710 (SC), the Hon’ble Supreme Court held that there is nothing in the Income Tax Act which restricts the Tribunal to the determination of the questions

M/S. MARMON FOOD AND BEVERAGE TECHNOLOGIES INDIA vs. THE INCOME TAX OFFICER

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking

M/S. MARMON FOOD AND BEVERAGE TECHNOLOGIES INDIA vs. THE INCOME TAX OFFICER

Bench: SATISH CHANDRA SHARMA,V SRISHANANDA

depreciation for each of the relevant assessment years. (7) The provisions of sub-section (8) and sub-section (10) of section 80IA shall, so far as may be, apply in relation to the undertaking referred to in this section as they apply for the purposes of the undertaking referred to in section 80-IA. (7A) Where any undertaking