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

74,563/- and noted I.T.A. No.179/2014 -5- that the said amount was credited to the P&L Account. According to the Revenue, the assessee converted the schedule property as non-agricultural land for enabling the purchase of schedule property by KSIDC. The KSIDC purchased the schedule property for further development as an industrial estate. Hence, the claim of assessee

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