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

ACIT, CIRCLE 1(2) vs. M/S. SERAJUDDIN AND CO.

Bench: : The Hon’Ble Justice T.S. Sivagnanam & The Hon’Ble Justice Bivas Pattanayak Date : 26Th July, 2022 Appearance :- Mr. Soumen Bhattacharjee, Adv. … For Appellant Mr. S.M. Surana, Adv. Mr. Bhaskar Sengupta, Adv. Md. Afzal Ansari, Adv. … For Respondent

depreciation. The Learned Income Tax Appellate Tribunal has relied on the decision of the Hon’ble High Court in the case of Siliguri Regulated Market Committee (2014) 366 ITR 51, which has been accepted by the department. Moreover, on this issue, Hon’ble Supreme Court has dismissed departmental appeal in the case of Rajasthan and Gujarat Charitable Foundation, Poona

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

3 SCC 179 and a decision of this Court in CIT Vs. Soft Brands (P) Ltd., reported in (2018) 406 ITR 513, it has been held that the finding of the fact decided by the Tribunal cannot be interfered in exercise of the powers under Section 260-A of the Act and accordingly, answered the identical substantial question

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.

3 of 5 5. The Department’s appeal was allowed by the ITAT by the impugned order. The reasoning in the impugned order of the ITAT reads as under: “27. We have heard both the parties and perused the record and find that this Bench in the case cited above by the DR has held that the actual cost

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