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

THE COMMISSIONER OF INCOME-TAX vs. M/S.GE INDIA TECHNOLOGY

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

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

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

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

Bench: S.SUJATHA,VINEET KOTHARI

2)(v) of the Income Tax Act and it allowed the expenditure as “current repairs to the existing machinery”. The Apex Court upholding the said Order of the learned Tribunal held that such Order could be passed within its powers under Section 33(4) of the Act to pass such Orders ‘as it thinks fit’. Date of Judgment

HEWLETT PACKARD FINANCIAL SERVICES INDIA PRIVATE vs. THE STATE OF KARNATAKA

Bench: S.SUJATHA,JAYANT PATEL

depreciation not being claimed by the appellant on the leased equipments. Per contra, the appellant has submitted that it is an integrated transaction and not two independent transactions to fasten the tax liability and as the integrated transaction is in 13 the course of import falls under the purview of Section 5(2) of the CST Act and has given

SRI N GOVINDARAJU vs. THE INCOME TAX OFFICER

Appeal stands disposed of

Bench: S.SUJATHA,VINEET SARAN

50% of the expenditure. Relying on the decision of the Apex Court in the case of Income Tax Officer Vs Mewalal Dwarka Prashad – (1989) 176 ITR 529, the Tribunal held that the reopening of assessment was justified in law. On merits also, the finding of the CIT(A) with regard to adopting the fair market value and disallowance of expenditure

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

The appeals are allowed; the impugned

Bench: SATISH CHANDRA SHARMA,R. NATARAJ

2(30) of the MV Act must be read in consonance with sub-sections (4) and (5) of Section 51 of the MV Act, 25 which were referred to by Mr. S. Ganesh, learned senior counsel for the assessee. The provisions read as follows: - “(4) No entry regarding the transfer of ownership of any motor vehicle which is held under

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 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

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

Bench: B.MANOHAR,VINEET SARAN

50,00,000 iii. 16/03/2002 Rs. 5,00,000 iv. 31/03/2002 Rs. 40,00,000 v. 25/04/2002 Rs. 5,00,000 vi. 17/01/2003 Rs. 5,00,000 vii. 03/04/2004 Rs. 30,000 viii. 13/04/2004 Rs. 1,60,000 ix. 13/07/2004 Rs. 1,00,000 x. 27/07/2004 Rs. 2,00,000 xi. 06/09/2004 Rs. 3,00,000 xii. 10/12/2004

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

Bench: B.MANOHAR,VINEET SARAN

50,00,000 iii. 16/03/2002 Rs. 5,00,000 iv. 31/03/2002 Rs. 40,00,000 v. 25/04/2002 Rs. 5,00,000 vi. 17/01/2003 Rs. 5,00,000 vii. 03/04/2004 Rs. 30,000 viii. 13/04/2004 Rs. 1,60,000 ix. 13/07/2004 Rs. 1,00,000 x. 27/07/2004 Rs. 2,00,000 xi. 06/09/2004 Rs. 3,00,000 xii. 10/12/2004

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

Bench: B.MANOHAR,VINEET SARAN

50,00,000 iii. 16/03/2002 Rs. 5,00,000 iv. 31/03/2002 Rs. 40,00,000 v. 25/04/2002 Rs. 5,00,000 vi. 17/01/2003 Rs. 5,00,000 vii. 03/04/2004 Rs. 30,000 viii. 13/04/2004 Rs. 1,60,000 ix. 13/07/2004 Rs. 1,00,000 x. 27/07/2004 Rs. 2,00,000 xi. 06/09/2004 Rs. 3,00,000 xii. 10/12/2004

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

Bench: B.MANOHAR,VINEET SARAN

50,00,000 iii. 16/03/2002 Rs. 5,00,000 iv. 31/03/2002 Rs. 40,00,000 v. 25/04/2002 Rs. 5,00,000 vi. 17/01/2003 Rs. 5,00,000 vii. 03/04/2004 Rs. 30,000 viii. 13/04/2004 Rs. 1,60,000 ix. 13/07/2004 Rs. 1,00,000 x. 27/07/2004 Rs. 2,00,000 xi. 06/09/2004 Rs. 3,00,000 xii. 10/12/2004

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