COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

depreciation; or (iv) the amount of profits derived by an industrial undertaking from the business of generation or generation and distribution of power; or (v) the amount of profits derived by an industrial undertaking located in an industrially backward State or district as referred to in sub-section (4) and sub- section (5) of section 80-IB, for the assessment

COMMISSIONER OF INCOME TAX, MADRAS vs. M/S. LUCAS T.V.S. LTD. PADI CHENNAI

The appeals are allowed to the aforesaid extent

depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of the Indian Income-tax Act, 1922 (11 of 1922), or this Act in computing the total income of any person for any period prior to the date of the installation of the machinery or plant by the assessee, (2) An industrial undertaking

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

M/S. VIJAY INDUSTRIES vs. COMMISSIONER OF INCOME TAX

Appeals are allowed

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

155 ITR 120] and H.H. Sir Rama Varma [1994 Supp (1) SCC 473 : (1994) 205 ITR 433] , it must be held that before considering the matter of deduction under Section 80-P(2) the Income Tax Officer had rightly set off the carried-forward losses of the earlier years in accordance with Section 72 of the Act and on finding

COMMNR. OF CUSTOMS (GENERAL), N. DELHI vs. GUJARAT PERSTORP ELECTRONICS LTD

The appeals are allowed

depreciation on the said purchase? The High Court noted that sub- section (3) of Section 43 expressly declared that "book" used for the purpose of business or profession of the assessee was covered by the inclusive definition of the word "plant". The question, however, was whether drawings and patterns could be said to be "book"? The Court observed that

M/S. SYNCO INDUSTRIES LTD. vs. ASSESSING OFFICER,INCOME TAX MUMBAI &ANR

depreciation was ’Nil’. It was, therefore, held that there was no positive figure from which the deduction under Chapter VI-A could be allowed. In Commissioner of Income-Tax, West Bengal-II, Calcutta v. Bengal Assam Steamship Company Ltd. (1985) 155 ITR 26 the Calcutta High Court has held that deduction under Section

COMMNR. OF CENTRAL EXCISE, TAMIL NADU vs. M/S. SOUTHERN STRUCTURALS LTD

155/- paid by the respondent was appropriated against this liability thus upholding the finding of the Commissioner in this regard also. 9. In respect of the penalty of Rs.20 Lac imposed by the Commissioner under Rule 173Q the Member(T), on the facts and C.A.No.180/03 .... (contd.) - 6 - circumstances of the case, particularly because the respondent is a State Government

M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE

depreciation in investments in the Balance Sheet under “Current Liabilities and Provisions” and that such provision for each year shall be debited to P&L Account so that a true and correct figure of “Net Profit” gets reflected in the financial accounts of the company. The effect of such Disclosure is to increase the current liabilities by showing the provision

ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. AHMEDABAD URBAN DEVELOPMENT AUTHORITY

Bench: HON'BLE THE CHIEF JUSTICE

Section 12AA(1) of the IT Act, on 18.05.1979 and is engaged in the activity of promotion of the export of all kind of ready-made garments, knitwear, and garments made of leather, jute and hemp. It does not per se engage in any activity for profit, and its mandate is to ensure that Indian apparel manufacturers, are given forums