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17 results for “depreciation”+ Section 13(1)(c)clear

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Key Topics

Section 2634Section 115B3Section 682Section 92C2Section 143(3)2Disallowance2Addition to Income2

M/S. KINFRA EXPORT PROMOTION INDUSTRIAL PARKS LTD., vs. THE JOINT COMMISSIONER OF INCOME TAX (OSD)

ITA/65/2018HC Kerala07 Apr 2022

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

Section 260A

13. The controversy between the Revenue and the assessee is that for the purpose of determining the actual cost of assets on which depreciation has to be allowed under Section 32 of the Act, the amount of subsidy received by the assessee should be reduced from the actual cost of the assets and the depreciation allowable only on the actual

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

Appeal is allowed in part as indicated

ITA/44/2017HC Kerala22 Sept 2021

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

For Appellant: M/S. APOLLO TYRES LTD
For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX
Section 143(3)Section 144CSection 144C(5)Section 35Section 43ASection 92C

depreciation; the question is whether the claim of the assessee conforms the deduction permissible under Section 37(1) of the Act. In the facts and circumstances of this case, we are of the view that the preoperative expenses amounting to Rs.26,97,79,538/- incurred by the assessee are revenue expenses, and are correctly so held by the Tribunal

BHIMA JEWELLERS vs. COMMISSIONER OF INCOME TAX,

ITA/15/2021HC Kerala25 Aug 2022

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

For Appellant: M/S BHIMA JEWELLERSFor Respondent: COMMISSIONER OF INCOME TAX
Section 115Section 115BSection 263Section 68Section 69Section 69ASection 69BSection 69CSection 69D

depreciation carried forward, is the contention.” ITA No.15 of 2021 -18- 10. Section 115BBE is inserted by Finance Act 2012 with effect from 1.4.2013. Through Finance Act 2016, an amendment to sub-section 2 of Section 115BBE was carried out. The section reads as follows: “After section 115BBD of the Income-tax Act, the following section shall be inserted with

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

ITA/56/2020HC Kerala03 Apr 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX

13(1)(c) and protectively added the amounts purportedly in violation i.e., donations. The issue of amount given for construction was an entirely new issue which was not at all considered by AQ and the jurisdiction to deal with the same is only u/s..147/148/263. Reliance in this connection was placed on the decision of Full Bench of Delhi High

THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. GRACY BABU,

ITA/48/2020HC Kerala03 Apr 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX

13(1)(c) and protectively added the amounts purportedly in violation i.e., donations. The issue of amount given for construction was an entirely new issue which was not at all considered by AQ and the jurisdiction to deal with the same is only u/s..147/148/263. Reliance in this connection was placed on the decision of Full Bench of Delhi High

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

ITA/46/2020HC Kerala03 Apr 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX

13(1)(c) and protectively added the amounts purportedly in violation i.e., donations. The issue of amount given for construction was an entirely new issue which was not at all considered by AQ and the jurisdiction to deal with the same is only u/s..147/148/263. Reliance in this connection was placed on the decision of Full Bench of Delhi High

THE PRINCIPAL COMMISSIONER OF INCOME TAX, vs. SMT.GRACY BABU,

ITA/54/2020HC Kerala03 Apr 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX

13(1)(c) and protectively added the amounts purportedly in violation i.e., donations. The issue of amount given for construction was an entirely new issue which was not at all considered by AQ and the jurisdiction to deal with the same is only u/s..147/148/263. Reliance in this connection was placed on the decision of Full Bench of Delhi High

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

ITA/47/2020HC Kerala03 Apr 2024

Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.

For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX

13(1)(c) and protectively added the amounts purportedly in violation i.e., donations. The issue of amount given for construction was an entirely new issue which was not at all considered by AQ and the jurisdiction to deal with the same is only u/s..147/148/263. Reliance in this connection was placed on the decision of Full Bench of Delhi High

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

ITA/227/2013HC Kerala22 Jul 2021

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

For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD

13. We have to appreciate this case with the above propositions in mind. It is admitted that the net worth position of the assessee had become positive by 31-03-2000. The assessee had a further period of three financial years for stabilising its activities until the period sanctioned by BIFR came to an end. Despite the net worth turning

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

ITA/92/2014HC Kerala22 Jul 2021

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

For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD

13. We have to appreciate this case with the above propositions in mind. It is admitted that the net worth position of the assessee had become positive by 31-03-2000. The assessee had a further period of three financial years for stabilising its activities until the period sanctioned by BIFR came to an end. Despite the net worth turning

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

ITA/200/2013HC Kerala22 Jul 2021

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

For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD

13. We have to appreciate this case with the above propositions in mind. It is admitted that the net worth position of the assessee had become positive by 31-03-2000. The assessee had a further period of three financial years for stabilising its activities until the period sanctioned by BIFR came to an end. Despite the net worth turning

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

ITA/206/2013HC Kerala22 Jul 2021

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

For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD

13. We have to appreciate this case with the above propositions in mind. It is admitted that the net worth position of the assessee had become positive by 31-03-2000. The assessee had a further period of three financial years for stabilising its activities until the period sanctioned by BIFR came to an end. Despite the net worth turning

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

ITA/185/2013HC Kerala22 Jul 2021

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

For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD

13. We have to appreciate this case with the above propositions in mind. It is admitted that the net worth position of the assessee had become positive by 31-03-2000. The assessee had a further period of three financial years for stabilising its activities until the period sanctioned by BIFR came to an end. Despite the net worth turning

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

ITA/207/2013HC Kerala22 Jul 2021

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

For Appellant: THE DEPUTY COMMISSIONER OF INCOME TAXFor Respondent: M/S.PTL ENTERPRISES LTD

13. We have to appreciate this case with the above propositions in mind. It is admitted that the net worth position of the assessee had become positive by 31-03-2000. The assessee had a further period of three financial years for stabilising its activities until the period sanctioned by BIFR came to an end. Despite the net worth turning

THE COMMISSIONER OF INCOME TAX, vs. PTL ENTERPRISES LIMITED,

ITA/483/2009HC Kerala19 Jul 2021

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

For Appellant: THE COMMISSIONER OF INCOME TAXFor Respondent: M/S.PREMIER TYRES LTD

C the appeal filed by the assessee was allowed and the Tribunal held that the lease rental received by the assessee from ATL under rehabilitation scheme comes within the meaning of business income, particularly, in the circumstances of the case. Hence the instant Income Tax Appeal at the instance of revenue. The following substantial questions of law are raised

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

ITA/929/2009HC Kerala19 Jul 2021

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

For Appellant: THE COMMISSIONER OF INCOME TAXFor Respondent: M/S.PREMIER TYRES LTD

C the appeal filed by the assessee was allowed and the Tribunal held that the lease rental received by the assessee from ATL under rehabilitation scheme comes within the meaning of business income, particularly, in the circumstances of the case. Hence the instant Income Tax Appeal at the instance of revenue. The following substantial questions of law are raised

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

ITA/758/2009HC Kerala19 Jul 2021

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

For Appellant: THE COMMISSIONER OF INCOME TAXFor Respondent: M/S.PREMIER TYRES LTD

C the appeal filed by the assessee was allowed and the Tribunal held that the lease rental received by the assessee from ATL under rehabilitation scheme comes within the meaning of business income, particularly, in the circumstances of the case. Hence the instant Income Tax Appeal at the instance of revenue. The following substantial questions of law are raised