THE INDIAN HOTELS COMPANY LTD. vs. INCOME TAX OFFICER,CIRCLE 1, BOMBAY

In the result, Transferred Cases No

capital employed during the previous year) : Provided that in relation to the profits and gains derived by an assessee, being a company, from an industrial undertaking which begins to manufacture or produce articles or to operate its cold storage plant or plants after the 31st day of March, 1976, or from a ship which is first brought into use after

DEPUTY COMMISSIONER OF INCOME TAX vs. M/S. CORE HEALTH CARE LTD

capital which the assessee has borrowed. Further, the words "actual cost" do not find place in Section 36(1)(iii) of the 1961 Act which otherwise find place in Sections 32, 32A etc of the 1961 Act. The expression "actual cost" is defined in Section 43(1) of the 1961 Act which is essentially a definition section which is subject

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

gains of business or profession" and Section 29 mandates that income referred to in Section 28 shall be computed in accordance with the provisions contained in Sections 30 to 43A. That being the law, Income- tax Officer was bound to allow depreciation whether the assessee chooses to claim the same or not. To arrive at the profit, depreciation

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

32A or clause (ii) of sub-section (1) of section 72 or section 73 or section 74 or sub-section (3) of section 74A. (4) Save as otherwise provided in this section, all other provisions of this Act shall apply to every assessee, being a company, mentioned in this section. Tax credit in respect of tax paid on deemed income

BRITANNIA INDUSTRIES LTD. vs. COMMNR. OF INCOME TAX

32A or] Section 33 or Section 33A or in respect of entertainment expenditure) http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 3 of 9 At the rate of = per cent or Rs.5,000/- whichever is higher; ii) On the next Rs.40,00,000/- of the profits and gains of the business or profession (computed in the manner aforesaid) At the rate

M/S. I.C.D.S. LTD. vs. COMMISSIONER OF INCOME TAX

The appeals are allowed; the impugned

32A(2) and Section 33 of the Act, dealing with Investment Allowance and Development Rebate respectively, held thus: - “9. Sub-section (2) of Section 32-A, however, requires to be examined to see whether there is any provision in that sub-section which requires that the assessee should not merely use the machinery for the purposes of his business

COMMNR. OF CUSTOMS(PREV.), GUJARAT vs. M/S. RELIANCE PETROLEUM LTD

capital goods and reasonability of the purchase price. In accordance with this proviso, the appellants have obtained and produced a certificate from a Chartered Enginer, whose name appears at Sr.No.6 of Appendix 32A, wherein he has certified the fair market value of the goods, which is the same as has been declared by the appellants. Therefore, I find that