M/S. APPOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE VIJU ABRAHAM

74,58,280/- as deduction from the total income. The said claim represents gain on cancellation of forward contracts relating to capital assets lying in CWIP. The Assessing Officer rejected the claim by recording that, firstly the reply of the assessee was not acceptable, secondly the case law mentioned by the assessee, though in its favour, since the Department

THE COMMISSIONER OF INCOME TAX-1, KOCHI vs. M/S.COCHIN MALABAR ESTATES & INDUSTRIES LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI