PRINCIPAL COMMISSIONER OF INCOME TAX-1 vs. INDIAN METALS AND FERRO ALLOYS LTD.

In the result, the substantial questions of law (i)

Bench: : The Hon’Ble Acting Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 3Rd April, 2023 Appearance : Mr. Soumen Bhattacharjee, Adv. ...For The Appellant Mr. Asim Choudhury, Adv. Mr. Soham Sen, Adv. ...For The Respondent. The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The ‘Act’ For Brevity) Is Directed Against The Order Dated October 17, 2018 Passed By The Income Tax Appellate Tribunal, “C” Bench, Kolkata (The Tribunal) In Ita No.524/Kol/2017 For The Assessment Year 2012-13. The Revenue Has Raised The Following Substantial Questions Of Law For Consideration:

Depreciation on Intellectual property Assets”? (vi) Whether on the facts and circumstances of the case and on law Learned Income Tax Appellate Tribunal was justified in granting relief to the assessee on the addition of ₹10,63,042/- on the issue of “Provision on obsolescence of inventory? (vii) Whether on the facts and circumstances of the case

ISPAT ALLOYS LTD. vs. DY.COMMNR.OF I.T.

The appeal is allowed in the above terms with no

Bench: The Assessing Officer (Ao) & Claimed Depreciation Allowance On The Increased Cost Of The Plant & Machinery Due To Exchange Fluctuations. The Ao In The Assessment Order Dated 31St March 1997 Rejected The Above Claim.

Section 43 A of the Act, in the context of development rebate, it was // 4 // Page 4 of 5 observed that the increase or decrease in liability should be taken into account to modify the figure of actual cost and secondly that such adjustment should be made in the year in which the increase or decrease in liability arises

NALCO vs. COMNR.OF INCOME TAX

Bench: : The Hon’Ble Justice Surya Prakash Kesarwani & The Hon’Ble Justice Rajarshi Bharadwaj Date : 16Th January, 2024 Appearance : Sri Vipul Kundalia, Adv. Smt. Oindrilla Ghosal, Adv. ...For The Appellant. Sri J.P. Khaitan, Sr. Adv. Sri Sanjoy Bhaumik, Adv. Smt. Swapna Das, Adv. ...For The Respondent. 1. Heard Sri Vipul Kundalia, Learned Senior Standing Counsel For The Appellant/Revenue & Sri J.P. Khaitan, Learned Senior Advocate Assisted By Sri Sanjoy Bhaumik & Smt. Swapna Das, Learned Advocates For The Respondent/Assessee. 2. This Appeal Was Admitted By This Court By An Order Dated 30.11.2012 On The Following Substantial Questions Of Law: “1) Whether In View Of The Facts & Circumstances Of The Instant Case The Tribunal Erred By Not Considering That Subsides Which May Be Used Freely

depreciable fixed assets chargeable of tax on the basis that the accounting treatment cannot effect the operation of the statutory provisions contained in Section 43(6) of the said Act and for the purpose of income tax the block of assets concept was followed as per the statutory provisions?” Substantial Question of Law No.1 3. So far as the afore

COMMISSIONER OF INCOME TAX vs. M/S.NEELACHAL ISPAT NIGAM LTD.

In the result, this Income Tax Appeal is allowed, setting

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK

Section 143(3) of the Income Tax Act. 3. The appellant filed appeal before the Commissioner of Income Tax Appeals. 4. The first appellate authority, after a detailed discussion of the relevant provisions, as well as the ITA NO. 11 OF 2018 -4- adjustment of various Rules and Tribunals, allowed the Appeal in part. 5. As per the said order

PRINCIPAL COMMISSIONER OF INCOME TAX,BHUBANESWAR vs. INDUSTRIAL DEVELOPMENT CORPORATION OF ORISSA LTD.

In the result, the appeal stands disposed of in terms of

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE MURAHARI SRI RAMAN

10 been allowed in the year 1988-1989, addition shall be made in accordance with law. 9. With regard to substantial question of law No.4 - the learned counsel for the assessee has placed reliance on the decision of the co-ordinate bench of this Court in the case of The Commissioner of Income-Tax Vs. M/s. Canara Bank in ITA.No