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13 results for “depreciation”+ Section 254(3)clear

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Key Topics

Section 115J8Depreciation8Section 43A7Section 37(1)5Section 254(2)5Section 36(1)(vii)4Section 271(1)(c)4Section 804Deduction4Section 65(105)(zzzzj)

COMMISSIONER OF INCOME TAX CHENNAI vs. TULSYAN NEC LTD

C.A. No.-010677-010679 - 2010Supreme Court16 Dec 2010
Section 115J

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

MALAYALA MANORAMA CO LTD. vs. COMMR.OF INCOME TAX, TRIVANDRUM

The appeals are allowed and the

C.A. No.-005420-005423 - 2002Supreme Court10 Apr 2008
For Respondent: Commissioner of Income Tax,Trivandrum
Section 115JSection 33
3
Addition to Income3
Rectification u/s 1542
Section 80
Section 80V

3) of section 33AC: if any amount referred to in clauses (a) to (f) is debited or, as the case may be, the amount referred to in clauses (g) and (h) is not credited to the profits and loss account, as as reduced by. \026 (i) xxx xxx xxx (ii) xxx xxx xxx (iii) xxx xxx xxx (iv) the amount

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

C.A. No.-004072-004072 - 2014Supreme Court19 Dec 2025

Bench: HON'BLE MR. JUSTICE MANOJ MISRA

Section 32(1)(ii)

depreciation. Looking to the nature of the advantage 57 which the assessee obtained in a commercial sense, the expenditure appears to be revenue expenditure. * * * * * Right from inception, the building was of the ownership of the lessor. Therefore, by spending this money, the assessee did not acquire any capital asset. The only advantage which the assessee derived by spending the money

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

C.A. No.-021762-021762 - 2017Supreme Court19 Oct 2022

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

HONDA SIEL POWER PRODUCTS LTD. vs. COMMR.OF INCOME TAX,DELHI

The appeal is allowed with no order as to costs

C.A. No.-005412-005412 - 2007Supreme Court26 Nov 2007
For Respondent: Commissioner of Income Tax, Delhi
Section 154Section 254(2)Section 43A

depreciation as under section 43A actual payment was a condition precedent for availing the benefit under that section. According to the Tribunal, if actual payment was not made after fluctuation then the value of the asset cannot be increased by adding the increase on account of fluctuation. On facts, the Tribunal found that, in the http://JUDIS.NIC.IN SUPREME COURT

SREE AYYANAR SPINNING & WEAVING M.LTD. vs. COMMNR. OF INCOME TAX

Accordingly, the Civil Appeal filed by the assessee stands allowed with no order

C.A. No.-003246-003246 - 2008Supreme Court01 May 2008
For Respondent: COMMISSIONER OF INCOME TAX
Section 115JSection 143(3)Section 254(2)

254(2) of the Income Tax Act, 1961 (for short the said Act). The assessee is a Company incorporated under the Companies Act, 1956. It carries on the business of manufacture of cotton and man made fiber yarn. For the Assessment Year 1989-90, assessment under Section 143(3) was framed by the Deputy Commissioner of Income Tax, Madurai, wherein

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

C.A. No.-001337-001337 - 2003Supreme Court11 Jan 2010
Section 145Section 2(24)Section 36(1)(vii)Section 37Section 37(1)

254. According to the appellant, applying “real income theory”, the “Provision for NPA” which is debited to P&L Account in terms of the RBI Directions 1998 and shown accordingly in the Balance Sheet can never be treated as income under Section 2(24) of the IT Act and added back while computing profits and gains of business under Sections

WIPRO FINANCE LTD. vs. THE COMMISSIONER OF INCOME TAX, BANGALORE

The appeal is allowed in terms of the signed

C.A. No.-006677-006677 - 2008Supreme Court12 Apr 2022
Section 143(1)(a)Section 254Section 37Section 43A

3)  Whether on facts and in the circumstances of the case, the Tribunal is justified in deleting the dis­allowance of claim to   the   tune   of   Rs.1,10,53,509/­   for   the   assessment   year 1997­98 in respect of exchange fluctuation that was made by the Assessing Officer? (in ITA No. 633/2004 only). (4)    Whether on facts and in the circumstances

MCORP GLOBAL PVT. LTD. vs. COMMISSIONER OF INCOME TAX, GHAZIABAD

Accordingly, the civil appeal filed by the assessee is partly allowed with no order as to costs

C.A. No.-000955-000955 - 2009Supreme Court12 Feb 2009

Bench: Coming To The Facts, The Following Is The Relationship Between The Parties: - M/S Glass & Ceramic Decorators Was The Manufacturer Of Soft Drink Bottles. - Assessee Was The ‘Lessor’. - M/S Coolade Beverages Pvt. Ltd. Was The ‘Lessee’. 4. During The Relevant Assessment Year, The Assessee Carried On The Business Of Trading In Lamination Machines & Binding & Punching Machines. In Addition, It Was Also Engaged In The Leasing Business. During The Year In Question, The Assessee Had Bought 5,46,000 Soft Drink Bottles From M/S Glass & Ceramic Decorators Worth Rs. 19,54,953/-. The Bottles Were Directly Supplied To M/S Coolade Beverages Pvt. Ltd. (“M/S Coolade” For Short) In Terms Of Lease Dated 15.2.1991. Vide Assessment Order Dated 28.3.1994, The Ao Found That M/S Coolade Had Received Only 42,000 Bottles Out Of The Total Of 2

Section 254(1)Section 32(1)(ii)Section 33(4)

3 5. At this stage, it may be noted that out of the total claim for depreciation of Rs. 1,80,30,489/- (in respect of both the transactions), as claimed by the assessee, the AO disallowed depreciation of Rs. 18,04,572/- in respect of the First Transaction and depreciation of Rs. 30,17,122 under the Second Transaction

OIL & NATURAL GAS CORP. LTD. TR. M.D. vs. COMMR.OF INCOME TAX, DEHRADUN

The appeals are allowed; the impugned orders are

C.A. No.-007223-007223 - 2008Supreme Court15 Mar 2010
Section 37(1)Section 43A

depreciation allowance on plant and machinery purchased out of such foreign exchange loans for the assessment year under consideration. 4.Being dissatisfied, both the Assessee as well as the Revenue carried the matter in further appeals to the Income Tax Appellate Tribunal (for short “the Tribunal”). The Tribunal observed that the method of accounting adopted by the Assessee right from

SHIV RAJ GUPTA vs. COMMISSIONER OF INCOME-TAX, DELHI IV

C.A. No.-012044-012044 - 2016Supreme Court22 Jul 2020

Bench: HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN

depreciation, reserves etc., a part of it should in all fairness go to the employees.” Also, this Court in S.A. Builders Ltd. v. CIT (2007) 1 SCC 781 held as follows: “36. We agree with the view taken by the Delhi High Court in CIT v. Dalmia Cement (B) Ltd. [(2002) 254 ITR 377 (Del)] that once it is established

M/S.VIRTUAL SOFT SYSTEMS LTD. vs. COMMISSIONER OF INCOME TAX, DELHI-I

C.A. No.-007115-007115 - 2005Supreme Court06 Feb 2007
For Respondent: Commissioner of Income Tax, Delhi-I
Section 260ASection 271(1)(c)Section 68

depreciation allowance which it was entitled to under the Income-tax Act came to Rs.7,84,063 thus converting the profit into a loss of Rs.2,19,848 for income-tax purposes, and the company was adjudged not to be liable to income-tax for the relevant assessment year 1951-52. The company, however, declared dividends in that year amounting

COMMISSIONER OF SERVICE TAX vs. M/S ADANI GAS LTD

The appeal is allowed in the above terms

C.A. No.-002633 - 2020Supreme Court28 Aug 2020

Bench: HON'BLE THE CHIEF JUSTICE

Section 65(105)(zzz)Section 65(105)(zzzzj)

depreciation. They are not collected as a consideration for providing a service; and under Article 366(29-A)(d), a tax on the sale or purchase of goods includes a tax on the transfer of the right to use goods for any purpose, without necessarily transferring the title. Section 65(105)(zzzzj) was introduced with the intention of capturing services