DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S VISHNU TEA & INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy, Hon’Ble Am & Sri Aby T. Varkey, Hon’Ble Jm] I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 C.O. No. 64/Kol/2016 A/O. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09

68 of the paper book, he filed certain papers to explain and justify the valuation of intangible assets at Rs. 325 lakhs, by reallocating the cost of purchase of land and plantation. 7.4.1. The ld. DR, on the other hand, submitted that the registered conveyance deed dt. 06/05/2006, gave the value of each and every asset that was transferred

DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S VISHNU TEA & INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy, Hon’Ble Am & Sri Aby T. Varkey, Hon’Ble Jm] I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 C.O. No. 64/Kol/2016 A/O. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09

68 of the paper book, he filed certain papers to explain and justify the valuation of intangible assets at Rs. 325 lakhs, by reallocating the cost of purchase of land and plantation. 7.4.1. The ld. DR, on the other hand, submitted that the registered conveyance deed dt. 06/05/2006, gave the value of each and every asset that was transferred

DCIT, CIRCLE-4(2), KOLKATA, KOLKATA vs. M/S VISHNU TEA & INDUSTRIES PRIVATE LIMITED, KOLKATA

In the result, the appeal of the assessee is allowed in part

Bench: Sri J. Sudhakar Reddy, Hon’Ble Am & Sri Aby T. Varkey, Hon’Ble Jm] I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09 C.O. No. 64/Kol/2016 A/O. I.T.A. No. 1749/Kol/2016 Assessment Year: 2008-09

68 of the paper book, he filed certain papers to explain and justify the valuation of intangible assets at Rs. 325 lakhs, by reallocating the cost of purchase of land and plantation. 7.4.1. The ld. DR, on the other hand, submitted that the registered conveyance deed dt. 06/05/2006, gave the value of each and every asset that was transferred

DCIT, CIR-12(2), KOLKATA, KOLKATA vs. M/S PHILIPS INDIA LTD., KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

section 32 of the Act read with Rule 5 of the Rules, depreciation @ 30% would be available if the following conditions are satisfied: i) Moulds are owned by the assessee; ii) Moulds re used for the purpose of assessee’s business; and iii) Moulds are exclusively used in the rubber / plastic factory (b) In the instant case, moulds were

M/S PHILIPS INDIA LTD.,KOLKATA vs. DCIT, CIR-12(2), KOLKATA, KOLKATA

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

section 32 of the Act read with Rule 5 of the Rules, depreciation @ 30% would be available if the following conditions are satisfied: i) Moulds are owned by the assessee; ii) Moulds re used for the purpose of assessee’s business; and iii) Moulds are exclusively used in the rubber / plastic factory (b) In the instant case, moulds were

MISRILALL MINES PVT LTD,KOLKATA vs. D.C.I.T CC - XI,KOLKATA, KOLKATA

In the result, assessee’s appeal is partly allowed

Bench: Shri A.T.Varkey & Shri Waseem Ahmed

115O of Income Tax Act, 1961. 3. That the conclusion arrived at by the Ld. CIT(A) in the impugned order is based on wholly misconceived notion of facts, and on irrelevant considerations and misplaced case law and, therefore, the said order under appeal is bad in law and perverse.” 4. Facts in brief are that assessee in the present