PRINCIPAL COMMISSIONER OF INCOME TAX-2 vs. M/S.JAGANNATH CHAUDHURY

The appeal is disposed of as indicated above

Bench: MR. JUSTICE K. S. JHAVERI (CJ),MR. JUSTICE K.R.MOHAPATRA

disallowed the deduction claimed under Section 80P of the Act. Further, the Assessing Officer concludes that the assessee earned income from interest on deposits from members and deposits made in scheduled Banks from trading commodities and interest from call money depositors. In view of the view taken by the Assessing Officer, the said income has been treated as income from

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

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

disallowed the claim of 100% depreciation and reduced it to 25% of the cost. As regards the claim for depreciation for marine pumps and motors, it was noted by the AO that the IT Rules themselves do not mention these equipments to be eligible for 100% depreciation. Consequently depreciation was allowed @ 25%. 8. The AO then examined the claim

PURI HOTEL P.LTD vs. ADDL.COMNR.OF TAX

The appeal is disposed of in the above terms

Bench: The Tribunal?

section 254 of the I.T. Act, 1961 that as a consequence of the impugned order of the Tribunal, a sum of Rs.80,221/- is payable by the petitioner to the Income Tax Department. We direct that on the petitioner paying 50% of the said amount of Rs.80,221/-by the end of January, 2005 the balance of the demand shall