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 LTDFor 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
