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

Section 32 - Depreciation (1) In respect of depreciation of buildings, machinery, plant or furniture owned by the assessee and used

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

Section 32 allows depreciation as deduction subject to the provisions of Section 34. Section 34 provides that deduction under Section

M/S. TECHNO SHARES & STOCKS LTD. vs. COMMISSIONER OF INCOME TAX-IV

32 of the 1961 Act provides for a deduction of allowance being made in respect of depreciation of building, machinery, plant or furniture, being a tangible asset. Vide Finance (No.2) Act, 1998, the Parliament thought it fit to extend the benefit of depreciation also to intangible assets enumerated in Section

M/S KARNATAKA SMALL S.INDT.DEV.COR.LTD. vs. COMMISSIONER OF INCOME-TAX,BANGALORE

depreciation allowance under section 32, investment allowance under section 32-A, losses under sections 72, 72A, 73, 74 and permissible

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

The appeals are allowed; the impugned

depreciation in respect of these vehicles. Hence, these appeals by the assessee. 9. Section 32 of the Act on 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 allowed under Section 32 (1) of the Act. It says that such depreciation of any block of assets shall

COMMISSIONER OF INCOME-TAX(CENTRAL) vs. M/S. GWALIOR RAYON SILK MFG.(WVG.)CO.LTD

The appeal is partly allowed

depreciation under Section 32 of the Act. It was further contended that the Rules only regulate the rate of depreciation

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

Section 32(1)(i)]. Further, the total of all deductions in respect of depreciation under Section 32(1)(i), made

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

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

depreciation under Section 32 of the Act. Section 32 of the Act also contemplates ownership of the asset as a condition

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

depreciated and written off assets can still be treated as the business income of the assessee under Section 41(1) of the 1961 Act. 5. Was the Department entitled to tax the aforestated sum under Section 41(1) is the question which we have to decide in these civil appeals? 6. For that purpose, we quote hereinbelow Section 32

COMMISSIONER OF INCOME TAX, KOLKATA vs. M/S. HOOGHLY MILLS CO. LTD

The appeal is allowed

depreciation is allowable on the same because Section 32 of the Income Tax Act states that depreciation is allowable only

PRIDE FORAMER S.A. vs. COMMISSIONER OF INCOME TAX

Bench: HON'BLE THE CHIEF JUSTICE

depreciation under Section 32(2) of the Act for the Assessment Years 1996-1997, 1997-1998 and 1999-2000. FACTS

THE PRINCIPAL COMMISSIONER OF INCOME TAX III, BANGALORE vs. M/S WIPRO LIMITED

Bench: HON'BLE MR. JUSTICE M.R. SHAH

32(1) (ii-a) of the IT Act. That provision gave the assessee the option to claim additional depreciation, over and above the usual or ordinary depreciation mandatorily allowed under Section

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

Section 32(depreciation allowance), Section 32A(investment allowance), Section 33(development rebate allowance), and Section 41(balancing charge). "Actual cost

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

The appeals are allowed and the

32-A or clause (ii) of sub-section (1) of Section 72 or Section 73 or Section 74 or sub-section (3) of Section 74-A or sub- section (3) of Section 80-J.\024 A new Chapter XII-B containing section 115J was inserted by the Finance Act, 1987 with effect from Ist April, 1988. This new section made

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

The appeals are disposed of in the above terms

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, be allowed –’ 13 Page 14 JUDGMENT (that is on trademarks, copyrights and know-how) in terms of Section 32

COMMISSIONER OF INCOME TAX vs. UNITED PROVINCES ELECTRIC SUPPLY CO

In the result, appeal is allowed

depreciable assets of the assessee and as per the details given in his order computed the written down value of those assets at Rs.2,06,48,985/- and determined the profit of Rs.1,29,35,557/- under Section 41(2) of the Act and added the same to the income of the assessee. In appeal before the Appellate Assistant Commissioner

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; (b) of a firm, returned income and total income assessed for each