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

37(1) of the Act. However, the assessing officer disallowed the loss. It was held that the expenditure incurred by the subsidiary company for its business was not allowable in the hands of the holding company as the subsidiary company was a separate legal entity and also that the expenditure incurred for acquisition of a capital asset was a capital

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

1 (2019) 419 ITR 100 I.T.A. No.26/2013 -14- findings of fact recorded, the question is answered in favour of the Revenue, against the assessee. 9. Substantial question no.3 relates to disallowance of part 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 PRINCIPAL COMMISSIONER OF INCOME TAX, vs. SMT.GRACY BABU,

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

depreciation) was Rs.24,38,23,931.53 and this amount was inclusive of Rs. 14,54,59,169/- given to the erstwhile trustees who constructed the buildings for the Trust which clearly showed that there had been no overstatement of building value and the amount paid was for the buildings constructed by them. Thus, there was no violation of section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. REENA JOSE

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

depreciation) was Rs.24,38,23,931.53 and this amount was inclusive of Rs. 14,54,59,169/- given to the erstwhile trustees who constructed the buildings for the Trust which clearly showed that there had been no overstatement of building value and the amount paid was for the buildings constructed by them. Thus, there was no violation of section

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

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

depreciation) was Rs.24,38,23,931.53 and this amount was inclusive of Rs. 14,54,59,169/- given to the erstwhile trustees who constructed the buildings for the Trust which clearly showed that there had been no overstatement of building value and the amount paid was for the buildings constructed by them. Thus, there was no violation of section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS

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

depreciation) was Rs.24,38,23,931.53 and this amount was inclusive of Rs. 14,54,59,169/- given to the erstwhile trustees who constructed the buildings for the Trust which clearly showed that there had been no overstatement of building value and the amount paid was for the buildings constructed by them. Thus, there was no violation of section

THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS,

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

depreciation) was Rs.24,38,23,931.53 and this amount was inclusive of Rs. 14,54,59,169/- given to the erstwhile trustees who constructed the buildings for the Trust which clearly showed that there had been no overstatement of building value and the amount paid was for the buildings constructed by them. Thus, there was no violation of section

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

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

1) of the Act. I.T.A. No.193/12 & Conn. Cases -:20:- 21. There is nothing on record to indicate that there is any element of compensation involved. Even after granting opportunities to the assessee to show the existence of any compensatory element in the penalty, the assessee could not show the existence of such an element in the penalty. In fact

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

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

1) of the Act. I.T.A. No.193/12 & Conn. Cases -:20:- 21. There is nothing on record to indicate that there is any element of compensation involved. Even after granting opportunities to the assessee to show the existence of any compensatory element in the penalty, the assessee could not show the existence of such an element in the penalty. In fact

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

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

1) of the Act. I.T.A. No.193/12 & Conn. Cases -:20:- 21. There is nothing on record to indicate that there is any element of compensation involved. Even after granting opportunities to the assessee to show the existence of any compensatory element in the penalty, the assessee could not show the existence of such an element in the penalty. In fact

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

1) of the Act. I.T.A. No.193/12 & Conn. Cases -:20:- 21. There is nothing on record to indicate that there is any element of compensation involved. Even after granting opportunities to the assessee to show the existence of any compensatory element in the penalty, the assessee could not show the existence of such an element in the penalty. In fact

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

1) of the Act. I.T.A. No.193/12 & Conn. Cases -:20:- 21. There is nothing on record to indicate that there is any element of compensation involved. Even after granting opportunities to the assessee to show the existence of any compensatory element in the penalty, the assessee could not show the existence of such an element in the penalty. In fact

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

1) of the Act. I.T.A. No.193/12 & Conn. Cases -:20:- 21. There is nothing on record to indicate that there is any element of compensation involved. Even after granting opportunities to the assessee to show the existence of any compensatory element in the penalty, the assessee could not show the existence of such an element in the penalty. In fact

MALANKARA PLANTATIONS LTD vs. THE DEPUTY COMMISSIONER OF INCOME TAX

Bench: The Income Tax Appellate Tribunal, Cochin Bench. The Subject Matter Of Appeal Relates To Assessment Year 2011-12 & The Controversies Relate To The Allowance Claimed By The Assessee Towards The Replantation Of Rubber Plants In An Area Where Rubber Trees

37 of Act 1961.” 4. The assessee raises the following substantial questions of law: “1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in confirming the disallowance of interest on loan paid on purchase of apartment claimed under the head "Income from House Property"? 2) Whether, on the facts

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

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

Sections 28 to 44 of the Act irrespective of doing business. He prays for answering substantial question Nos. 3 to 5 in favour of revenue and against the assessee. 10. Senior Adv.Mr.Joseph Markose argues that the assessee moved BIFR in 1987 and the case of assessee has been taken up for enquiry in 1991, BIFR found that the assessee could

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

Sections 28 to 44 of the Act irrespective of doing business. He prays for answering substantial question Nos. 3 to 5 in favour of revenue and against the assessee. 10. Senior Adv.Mr.Joseph Markose argues that the assessee moved BIFR in 1987 and the case of assessee has been taken up for enquiry in 1991, BIFR found that the assessee could

THE COMMISSIONER OF INCOME TAX vs. PREMIER TYRES LTD.

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

Sections 28 to 44 of the Act irrespective of doing business. He prays for answering substantial question Nos. 3 to 5 in favour of revenue and against the assessee. 10. Senior Adv.Mr.Joseph Markose argues that the assessee moved BIFR in 1987 and the case of assessee has been taken up for enquiry in 1991, BIFR found that the assessee could

M/S.ESCAPADE RESORTS PVT.LTD. vs. THE ASSISTANT COMMISSIONER OF INCOME TAX

The appeal is allowed in part as indicated above

Bench: The Commissioner Of Income Tax (Appeals)-Ii (For Short, ‘Cit(Appeals)’) & Through Annexure-C Order Dated 02.12.2013, The Appeal Was Allowed In Part. The Assessee Carried The Matter In Appeal Before The Income Tax Appellate Tribunal (For Short, 'The Tribunal') & Through The Order Impugned In The Appeal

37 of the Act also. Moreover, this expenditure has not been incurred during the relevant previous year. Considering all these, claim of the assessee is rejected. However, since it is a capital asset coming under Plant and Machinery, depreciation @15% is granted on it. The resultant disallowance comes