THECOMMISSIONER OF INCOME TAX,TRICHUR vs. CATHOLIC SYRIAN BANK LTD.,TRICHUR

Appeal stands dismissed

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deduction? 3. Whether, on the facts and in the circumstances of the case, the claim of depreciation on government securities

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. M/S. APOLLO TYRES LTD

Appeal is allowed in part as indicated

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

deduction in such circumstances is only by way of depreciation under Section 40(3)(i) of the Act. The abstract

THE COMMISSIONER OF INCOME TAX vs. KITEX GARMENTS LTD., KIZHAKKAMBALAM

The appeal stands dismissed accordingly

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deduction under Section 80 HHC for an amount of Rs.65,20,772/-? 2. Whether, on the facts and in the circumstances of the case and also in the light of reasoning contained in 265 ITR 114 (Bom) the assessee is entitled to claim depreciation

M/S. KUNNEL ENGINEERS AND CONTRACTORS (P) LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

Appeals are allowed and remanded with the observations as

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

deduction of the same in the appropriate year of payment? 4) Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in holding that depreciation

THE PRINCIPAL COMMISSIONER OF INCOME TAX, KOCHI -I vs. M/S.APOLLO TYRES LTD

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

depreciation brought forward from immediately preceding assessment year has to be allowed in the subsequent assessment year and is nto the above finding against law and perverse? 2. Whether on the facts and in circumstances of the case is the Hon'ble ITAT is right in law in allowing the assessee's claim of weighted deduction

THE COMMISSIONER OF INCOME TAX vs. M/S. KITEX GARMENTS LTD.

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

depreciation in the subsequent year. 4.2 Learned Senior Counsel appearing for the assessee refers to and relies on the judgments in Commissioner of Income- tax, Madurai v. T P Textiles (P) Ltd.1 and Commissioner of Income-tax, Bangalore v. Rittal India (P) Ltd2 for sustaining the view taken by the Tribunal. It is also argued that the clarificatory amendment made

THE COMMISSIONER OF INCOME TAX-1, vs. M/S.APPOLLO TYRES LTD.,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

depreciation in the subsequent year. 4.2 Learned Senior Counsel appearing for the assessee refers to and relies on the judgments in Commissioner of Income- tax, Madurai v. T P Textiles (P) Ltd.1 and Commissioner of Income-tax, Bangalore v. Rittal India (P) Ltd2 for sustaining the view taken by the Tribunal. It is also argued that the clarificatory amendment made

M/S.APOLLO TYRES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

depreciation claimed by the assessee of Gurgaon building aggregating to Rs.25,27,505/- in relation to the let out portion to Appolo International Ltd. The assessee challenges the following finding recorded by the Tribunal. “13. We notice that the AO had made similar disallowance in respect of claim of bonus payment in assessment year 2002-03, i.e., provision created

BHIMA JEWELLERS vs. COMMISSIONER OF INCOME TAX,

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

depreciation. On the basis of this judgment unexplained cash credit of Rs.1,86,00,000/- is not eligible for set off of business loss of Rs.1,76,24,221/-.” ITA No.15 of 2021 -6- 5. The assessee replied briefly that the unexplained credit into the capital account has been treated as deemed income under Section 68 of the Income

APOLLO TYRES LTD vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

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

deduction provided by the Act. The claim is dependent on fulfilling the requirements of the Section. This argument need not be considered for the reasons that the assessee, on the strength of a right in its favour or infirmity in the stipulation of period by DSIR, availed the writ remedy. The ITA Nos.225 & 238/2019 -12- prayers of assessee were rejected

APOLLO TYRES LTD. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX,

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

deduction provided by the Act. The claim is dependent on fulfilling the requirements of the Section. This argument need not be considered for the reasons that the assessee, on the strength of a right in its favour or infirmity in the stipulation of period by DSIR, availed the writ remedy. The ITA Nos.225 & 238/2019 -12- prayers of assessee were rejected

HOTEL ALLIED TRADES PVT. LTD vs. THE ADDITIONAL COMMISSIONER OF INCOME-TAX

In the result, we dismiss the IT Appeal by answering the

Bench: Us, The Appellant Raises The Following Questions Of Law:

deduction for the assessment year in question? 3. We have heard Sri.Abraham Joseph Markos, the learned Counsel for the appellant and Sri.Jose Joseph, the learned Standing Counsel for the Income Tax Department. 4. The sole issue that arises for consideration is whether the claim by the appellant/assessee of an amount of Rs.101.87 lakhs as revenue expenditure is allowable

M/S.PTL ENTERPRISES LTD. (FORMERLY PREMIER TYRES LTD) vs. THE ASSISTNAT COMMISSIONER OF INCOME TAX, CIRCLE-2(1),RANGE-2, ERNAKULAM

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deducted as an expenditure. 20. It is not in dispute, as held in the decision in Commissioner of Income Tax v. Chemical Constructions [(2000) 243 ITR 858 (Mad.)] and in Malwa Vanaspati & Chemical Co. v. Commissioner of Income Tax [(1997) 225 ITR 383 (SC)] that when penalty is paid, comprising of elements of compensation and penalty, only that part

PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deducted as an expenditure. 20. It is not in dispute, as held in the decision in Commissioner of Income Tax v. Chemical Constructions [(2000) 243 ITR 858 (Mad.)] and in Malwa Vanaspati & Chemical Co. v. Commissioner of Income Tax [(1997) 225 ITR 383 (SC)] that when penalty is paid, comprising of elements of compensation and penalty, only that part

PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deducted as an expenditure. 20. It is not in dispute, as held in the decision in Commissioner of Income Tax v. Chemical Constructions [(2000) 243 ITR 858 (Mad.)] and in Malwa Vanaspati & Chemical Co. v. Commissioner of Income Tax [(1997) 225 ITR 383 (SC)] that when penalty is paid, comprising of elements of compensation and penalty, only that part

PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSONER OF INCOME TX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deducted as an expenditure. 20. It is not in dispute, as held in the decision in Commissioner of Income Tax v. Chemical Constructions [(2000) 243 ITR 858 (Mad.)] and in Malwa Vanaspati & Chemical Co. v. Commissioner of Income Tax [(1997) 225 ITR 383 (SC)] that when penalty is paid, comprising of elements of compensation and penalty, only that part

M/S.PTL ENTERPRISES LTD. vs. THE DEPUTY COMMISSIONER OF INCOME-TAX

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deducted as an expenditure. 20. It is not in dispute, as held in the decision in Commissioner of Income Tax v. Chemical Constructions [(2000) 243 ITR 858 (Mad.)] and in Malwa Vanaspati & Chemical Co. v. Commissioner of Income Tax [(1997) 225 ITR 383 (SC)] that when penalty is paid, comprising of elements of compensation and penalty, only that part

M/S PTL ENTERPRISES LTD., vs. THE DEPUTY COMMISSIONER OF INCOME-TAX,

Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

deducted as an expenditure. 20. It is not in dispute, as held in the decision in Commissioner of Income Tax v. Chemical Constructions [(2000) 243 ITR 858 (Mad.)] and in Malwa Vanaspati & Chemical Co. v. Commissioner of Income Tax [(1997) 225 ITR 383 (SC)] that when penalty is paid, comprising of elements of compensation and penalty, only that part