PLASTIBLENDS INDIA LIMITED THROUGH ITS CHAIRMAN AND MANAGING DIRECTOR vs. ADDL.COMMISSIONER OF INCOME TAX RANGE 8(2) MUMBAI

Bench: HON'BLE MR. JUSTICE A.K. SIKRI

34 is not satisfied and particulars are not furnished by the assessee his claim for depreciation under Section 32 cannot be allowed. Section 29 is thus to be read with reference to other provisions of the Act. It is not in itself a complete code.” 7) He also referred to sub-sections (9) and (10

SHARP BUSINESS SYSTEM THR. FINANCE DIRECTOR MR. YOSHIHISA MIZUNO vs. COMMISSIONER OF INCOME TAX-III N.D

The appeals are hereby disposed of in terms of

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

34 13.10. Adverting to Section 2(14) of the Act, Mr. Datar submits that ‘capital asset’ has been defined to include property of any kind held by an assessee. The word ‘property’ is defined in the Explanation to sub-section (14) of Section 2 to include and always be deemed to have included rights of management or control

COMMR.OF INCOME TAX-I,NEW DELHI vs. VATIKA TOWNSHIP P.LTD

Appeals of the assessees are allowed deleting the surcharge levied by the

depreciation under sub-section (2) of section 32 shall not be set off against the undisclosed income determined in the block assessment under this Chapter, but may be carried forward for being set off in the regular assessments. Civil Appeal No.________ of 2014 & connected matters Page 17 of 57 (arising out of S.L.P. (C) Nos. 540 of 2009) Page

CHIEF COMMISSIONER OF CENTRAL GOODS AND SERVICE TAX vs. M/S SAFARI RETREATS PRIVATE LIMITED

Appeals are partly allowed in above terms

Bench: HON'BLE MR. JUSTICE ABHAY S. OKA

10. It is submitted that even though sub-Section (5) of Section 17 starts with the non-obstante clause, it cannot be said that the legislature intended to override Section 16(1) in its entirety. It is submitted that the non-obstante clause in Section 17(5) cannot cut down the construction or restrict the scope of operation of Section

COMMR.OF INCOME TAX,DIBRUGARH vs. DOOM DOOMA INDIA LTD

34(2)(i)]. The definition of “actual cost” is to be found in Section 43(1) and the definition of "written down value" is to be found in Section 43(6) of the 1961 Act. The latter defines "written down value" under Section 43(6) to mean – (a) in the case of assets acquired in the previous year, the actual

COMMISSIONER OF INCOME TAX vs. M/S JINDAL STEEL THROUGH ITS MANAGING DIRECTOR

Appeals are hereby dismissed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

10. Aggrieved by the aforesaid finding rendered by the Tribunal, revenue preferred appeal before the High Court of Punjab and Haryana under Section 260 A of the Act which was registered as Income Tax Appeal No.53 of 2008. The High Court in its order dated 02.09.2008 disposed of the appeal by following its order dated 02.09.2008 passed in the connected

COMMR.OF INCOME TAX,SIMLA vs. M/S GREEN WORLD CORPORATION

Appeals are disposed of with the aforementioned directions

depreciation was not causing any prejudice to the interest of Revenue at least in the year under consideration and the apprehension of the learned CIT about such prejudice which may be caused to the Revenue in the subsequent years was based on 29 assumptions and surmises depending on ultimate eventualities like the one happened in the present case when

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

Bench: HON'BLE MRS. JUSTICE B.V. NAGARATHNA

depreciation on permanent assets and securities. iii. The Commission’s order dated 11.12.2000, makes multiple references to the Report of the Commissioner, as required under Section 245D (1). Therefore, we find no substance in the submission of the Ld. ASG appearing on behalf of the Revenue that the procedure contemplated under Section 245D was not followed

COMMISSIONER OF INCOME TAX, DELHI vs. M/S WOODWARD GOVERNOR INDIA P. LTD

depreciation to be allowed with reference to such increased/decreased cost. This position is also made clear by Circular No. 5-P dated 9.10.1967 issued by CBDT. One more point needs to be mentioned. Section 43A (unamended) corresponds to para 10 of AS-11 similarly providing for adjustment in the carrying cost of fixed assets acquired in foreign currency

M/S MANGALORE GANESH BEEDI WORKS vs. COMMISSIONER OF INCOME TAX, MYSORE

The appeals are disposed of in the above terms

10 ‘In respect of depreciation of buildings, machinery, plant or furniture owned, wholly or partly, by the assessee and used for the purposes of the business or profession, the following deductions shall, subject to the provisions of section 34

NECTAR BEVERAGES PVT. LTD. vs. DEPUTY COMMNR. OF INCOME TAX

34, be allowed- (i) [Omitted]; (ii) in the case of any block of assets, such percentage on the written down value thereof as may be prescribed: Provided that where the actual cost of any machinery or plant does not exceed five thousand rupees, the actual cost thereof shall be allowed as a deduction in respect of the previous year

M/S D. N. SINGH THROUGH PARTNER DUDHESHWAR NATH SINGH vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE MR. JUSTICE K.M. JOSEPH

34 case of an entrustment to the carrier otherwise than under a contract of sale of goods also, the possession of the carrier would not convert it into the owner of the goods. E. THE CARRIAGE BY ROAD ACT, 2007 40. Under Section 15 of the Carriage by Road Act, 2007, the carrier can, after issuing notice as provided, when

M/S. G.K. CHOKSI & CO. vs. COMMNR. OF INCOME TAX, GUJARAT

34, be allowed: (i) xxx xxxx xxx (ii) in the case of buildings, machinery, plant or furniture, other than ships covered by clause (i), such percentage on the written down value thereof as may in any case or class of cases be prescribed: Provided that where the actual cost of any machinery or plant does not exceed [five thousand rupees

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

34 ITR 265]. All that is germane is : whether the borrowing was, or was not, for the purpose of business. The expression "for the purpose of business" occurring in Section 36(1)(iii) indicates that once the test of "for the purpose of business" is satisfied in respect of the capital borrowed, the assessee would be entitled to deduction under

ASSISTANT COMMISSIONER OF INCOME TAX vs. RAJESH JHAVERI STOCK BROKERS PVT.LTD

The appeal is allowed without

depreciation allowance has been computed. Explanation 2.\027Production before the Assessing Officer of account books or other evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of this section.\024 16. Section 147 authorises and permits the Assessing Officer to assess or reassess income

M/S. MANGALAM PUBLICATIONS, KOTTAYAM vs. COMMISSIONER OF INCOME TAX, KOTTAYAM

Bench: This Court & On Leave Being Granted, Civil Appeals Have Been Registered. 3.

depreciation allowance or any other allowance, as the case may be, for the assessment year concerned (hereafter in this section and in Sections 148 to 153 referred to as the relevant assessment year). 32 28.4. Thus, Section 147 as it stood at the relevant point of time provides that if the assessing officer has reason to believe that any income

CHECKMATE SERVICES P LTD vs. COMMISSIONER OF INCOME TAX-I

Bench: HON'BLE THE CHIEF JUSTICE

34 of 1948), or any other fund for the welfare of such employees;…”4 *** “Section 36. Other deductions. (1) The deductions provided for in the following clauses shall be allowed in respect of the matters dealt with therein, in computing the income referred to in section 28- *** (iv) any sum paid by the assessee as an employer

COMMR.OF INCOME TAX,CHENNAI vs. M/S ALAGENDRAN FINANCE LTD

depreciation allowance" in Section 147 after the conditions for reassessment are satisfied, is only relatable to the preceding expression in Clauses (a) and (b) viz., "escaped assessment". The term "escaped assessment" includes both "non- assessment" as well as "under assessment". Income is said to have "escaped assessment" within the http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 5 of 8 meaning