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

depreciation: as to whether such rights are rights in rem or rights in personam. While generally patents, copyrights and trade marks confer rights in rem, other categories like 31 technical know-how, licences or franchises generally confer rights in personam. Even under The Patents Act, 1970, The Copyrights Act, 1957 and The Trade Marks Act, 1999, certain rights

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

BRITANNIA INDUSTRIES LTD. vs. COMMNR. OF INCOME TAX

Sections 31 and 32 deal with the amounts which are allowable in respect of repairs and insurance of machinery, plant and furniture http://JUDIS.NIC.IN SUPREME COURT OF INDIA Page 2 of 9 used for the purposes of the business or profession and in respect of depreciation

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

depreciation on the assets used for power generation. This additional issue has been raised by the revenue in Civil Appeal No.13771 of 2015 (Commissioner of Income Tax Vs. M/s Jindal Steel and Power Ltd.). Revenue has also raised the issue of expenditure in Civil Appeal No.7425 of 2019 (Commissioner of Income Tax Vs. M/s Reliance Industries Ltd.). The expenditure claimed

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

depreciated at 100% under the proviso to Section 32(1)(ii) and hence did not form part of the block of assets. 12. For reasons given hereinabove, we are of the view that bottles and crates purchased prior to 31.3.1995 did not form part of the block of assets, hence, profits on sale of such assets were not taxable

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

The appeal is allowed without

depreciation allowance or any other allow- ance under this Act has been computed. 148. Issue of notice where income has escaped assessment.\027(1) Before making the assessment, reassessment or recomputation under section 147, the Assessing Officer shall serve on the assessee a notice containing all or any of the requirements which may be included in a notice under

DY. COMMNR., INCOME TAX, COCHIN vs. M/S. S.T.N. TEXTILE LTD

Section 31 of the Income Tax Act. It, therefore, held that the expenditure was a capital expenditure on which only depreciation

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

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

31. Coming to the question of liability of a common carrier for loss of or damage to goods, the position of law has to be taken as fairly well settled that the liability of a carrier in India, as in England, is more extensive and the liability is that of an insurer. The absolute liability of the carrier is subject

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

depreciation [Sections 32 and 43(1)], and also as regards capital assets for scientific research [Section 35(1)(iv)] and also regarding patent rights or copyrights [Section 35A]. 31

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

The appeals are allowed; the impugned

Section 32 (1) of the Act. Therefore, the assessee fulfills even the requirements for a claim of a higher rate of depreciation, and hence is entitled to the same. 31

COMMNR. OF INCOME TAX, UDAIPUR vs. MCDOWELL & CO. LTD

The appeal is disposed of

Bench: The High Court Are As Follows: (1) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Holding That The Unpaid Amount Of Bottling Fee Has, On Furnishing Of The Bank Guarantee, To Be Treated As Actual Payment & Accordingly Allowing The Deduction In Respect Of The Same Under Section 43B Of The Act, Even Though The Sum Has Not Been Actually Paid Before The Due Date Of Filing The Return Under Section 139(1) Of The Act. (2) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Allowing The Depreciation On Research & Development Assets Which Related To The Closed Business Of Fast Food Division/Unit Of The Assessee-Company As Such Not Used During The Previous Year? (3) Whether On The Facts & In The Circumstances Of The Case, The I.T.A.T. Was Justified In Deleting The Addition Of Rs.2,77,887/- 2

31, obviously relatable to current repairs. The assessee’s claim on the other hand is relatable to Section 37 of the Act. Strong reliance is placed on a decision of this Court in Commissioner of Income Tax v. Ramaraju Surgical Cotton Mills ((2007)(294) ITR 328 (SC)). It is fairly accepted by learned counsel for the assessee that nomenclature

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

31 (1957) SCC OnLine SC 12 Civil Appeal No.2948 of 2023 etc. Page 26 of 91 He invited our attention to Section 16(3) of the CGST Act, which bars the claim of depreciation

THE ASSTT. COMMISSIONER OF INCOME TAX vs. M/S. A.R. ENTERPRISES

depreciation under sub- section (2) of section 32; (b) of a firm, or its partners, the method of computation of undisclosed income and its allocation to the partners shall be in accordance with the method adopted for determining the as- 21 Page 22 JUDGMENT sessed income or returned income for each of the previous years falling within the block period

RAJASTHAN STATE ELECTRICITY BOARD JAIPUR vs. THE DY. COMMISSIONER OF INCOME TAX (ASSESSMENT)

In the result, we allow the appeal, set aside the

Bench: HON'BLE MRS. JUSTICE R. BANUMATHI

31:00 IST Reason: Signature Not Verified 2 The assessee is a Government Company as defined under Section 617 of the Companies Act, 1956. The assessee filed return on 30.12.1991 for the assessment year 1991-92 showing a loss amounting to Rs. (-)427,39,32,972/-. Due to a bonafide mistake the assessee claimed 100% depreciation

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

The appeals are disposed of in the above terms

depreciation on plant) as has been done by the Tribunal, the Assessee would be quite satisfied. Unfortunately, the alternative aspect of the Assessee’s case was not looked into by the High Court. 29. Therefore, now the question to be answered is whether the Assessee is entitled to any benefit under Section 32 of the Act read with Section

KOTAK MAHINDRA BANK LIMITED vs. COMMISSIONER OF INCOME TAX BANGALORE

The appeal is allowed

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

depreciation on the investments portfolio of the bank classified as permanent investments. 2.4. When matters stood thus, the concluded assessments for earlier assessment years were reopened by issuance of notices under Section 148 of the Act. The appellant filed returns under protest with respect to the said assessment years. 2.5. Before the Settlement Commission, the Respondents-Revenue raised a preliminary

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

31. In the Fifth Report of the Insolvency Law Committee, May, 2022 published by the Ministry of Corporate Affairs, Government of India29, while examining whether the role of the SCC ought to be reviewed and suitable provisions be enacted in the IBC to give its statutory recognition, the Committee observed that the BLRC has designed the CIRP to be driven