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.

2) of the Income Tax Act, 1961 (Act), the Assessee appeared before the Assessing Officer (AO) and claimed depreciation allowance on the increased cost of the plant and machinery due to exchange fluctuations. The AO in the assessment order dated 31st March 1997 rejected the above claim. 4. In appeal, the Commissioner of Income Tax (Appeals

COMNR.OF INCOME TAX vs. NEELACHAL ISPAT NIGA

Appeals are dismissed

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

2. Assessee is a Private Limited Company. Under the impugned order, the Appellate Tribunal had in fact allowed the appeals of the assessee though termed it as for statistical purposes, had directed the Assessing Officer to examine the claims put forth by the assessee to reconsider the question of allowing depreciation on goodwill part of the assessee and for such

INDUSTRIAL INCUBATOR vs. DY.COMMNR.OF I.T.

Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE ADITYA KUMAR MOHAPATRA

2. The appeal itself arises out of an order dated 30th April, 2004 of the Income Tax Appellate Tribunal (ITAT) dismissing the Appellant-Assesee’s appeal for the Assessment Years (AYs) 1994-95 and 1995-96. The said appeals before the ITAT bearing Nos.168 and 169/CTK/2001 were in turn directed against the common order dated 3rd January

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

2. The appellant was engaged in the business of aqua farm culture and sale of its proceeds. Until 2007, the company functioned in the name of 'M/s.Victory Aqua Farm Limited' and later changed its name to 'M/s.Kings Infra Ventures Limited' and ventured into construction business. The appellant filed its return of income for the assessment years 2011-12, disclosing

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

2) Whether the Hon’ble ITAT has erred in law as well as on facts by deleting the disallowance made by Assessing Officer on account of claim of deduction of proportionate amount of lease hold land written off of Rs.20,50,052? 3) Whether the Hon’ble ITAT has erred in law as well as on facts by deleting