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

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

M/S WIPRO LIMITED vs. THE DEPUTY COMMISSIONER OF INCOME TAX

The appeals stand disposed of, accordingly

Bench: N.KUMAR,B.SREENIVASE GOWDA

Section 145A of the Income- tax Act which was inserted with effect from assessment year 1999-2000. The said provision states that the valuation of stock should include the amount of any tax duty, cess or fee - 94 - actually paid or incurred to bring the goods to its present location and condition. The Department has followed a consistent stand

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

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

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

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

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

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

THE COMMISSIONER OF INCOME TAX vs. SRI ADICHUNCHUNGIRI

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

COMMISSIONER OF INCOME vs. SRI ADICHUNCHANAGIRI

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

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

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

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

The appeals are dismissed

Bench: S.SUJATHA,N.K.PATIL

Section 35(2)(iv) of 19 the 1965 Act. It was the case of the assessee claiming a specified percentage of the written down value of the asset as depreciation besides claiming deduction in 5

PR. COMMISSIONER OF INCOME TAX vs. SRI SRI ADICHUNCHUNAGIRI SHIKSHANA TRUST

In the result, all the appeals are

Bench: JAYANT PATEL,B.SREENIVASE GOWDA

depreciation under Section 11 of the Act as claimed by the assessee. 5 9. In all these appeals, the common

THE COMMISSIONER OF vs. THE KARNATAKA STATE

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

5 - Aggrieved by the said orders, the respondent-Trust preferred appeals before the Commissioner of Income Tax (Appeals), Mysore (hereinafter referred to as ‘the Appellate Authority’ for short) in ITA No.267/Trust/CIT(A) V/10-11 and ITA No.838/Trust/CIT(A) V/11-12, contending that under Section 11(1) of the Act, depreciation

M/S PADMINI PRODUCTS (P) LTD., vs. THE DEPUTY COMMISSIONER OF INCOME TAX

In the result, the aforesaid

Bench: ALOK ARADHE,H.T. NARENDRA PRASAD

Section 32(1)(ii) of the Act cannot be allowed. It was further held that depreciation is only allowable as per proviso (5

THE DIRECTOR OF INCOME TAX vs. M/S. KRUPANIDHI EDUCATION

Bench: S.SUJATHA,VINEET KOTHARI

section 11 of the Act and depreciation being a notional expenditure is not allowable?” 3. This Court in case of ‘Commissioner of Income Tax-III, Pune v. Rajasthan & Gujarati Charitable Foundation Poona’ [2018] 89 taxmann.com 127 [SC] with regard to allowability and Depreciation in the hands of Religious and Charitable Trust held as under: “5

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

THE PR.COMMISSIONER OF INCOME TAX, CIT (A) vs. M/S AGRICULTURAL PRODUCE MARKET COMMITTEE

Bench: S.SUJATHA,VINEET KOTHARI

5. Learned Counsel at the Bar submitted that so far as the issue regarding claim of Depreciation under Section 32 of the Act is concerned

THE COMMISSIONER OF INCOME-TAX vs. M/S AGRICULTURAL PRODUCE MARKET COMMITTEE

Bench: S.SUJATHA,VINEET KOTHARI

5. Learned Counsel at the Bar submitted that so far as the issue regarding claim of Depreciation under Section 32 of the Act is concerned

THE PR. COMMISSIONER OF INCOME TAX vs. M/S CISCO SYSTEMS

The appeals are allowed; the impugned

Bench: SATISH CHANDRA SHARMA,R. NATARAJ

5.—For the removal of doubts, it is hereby declared that the provisions of this sub- section shall apply whether or not the assessee has claimed the deduction in respect of depreciation

PR COMMISSIONER OF vs. M/S SUBEX LTD

In the result, appeal stands dismissed

Bench: S.SUJATHA,RAVI V HOSMANI

5 - 6. As per Regulation 2[g] of Foreign Exchange Management [Transfer or Issue of any Foreign Security] Regulations, 2004, “Foreign Currency Convertible Bond [FCCB]” means a bond issued by an Indian company expressed in foreign currency, and the principal and interest in respect of which is payable in foreign currency. 7. Foreign Currency Convertible Bonds as per Regulation