VODAFONE IDEA LTD(EARLIER KNOWN AS VODAFONE MOBILE SERVICES LIMITED vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 26 (2)

Bench: HON'BLE THE CHIEF JUSTICE

depreciation as claimed and by taxing the interest income of Rs.1,07,85,590 as income from other sources and thus raised the demand of Rs. 1,30,83,741 under various heads and sections of taxes, surcharge and additional tax under Sections 143(1A), 234A and 234B. 4. Mr. Shah, learned counsel appearing for the assessee, has contended that

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

iv) Pitney Bowes India (P) Ltd. Vs. CIT8 14.2. From an analysis of the aforesaid decisions, it is evident that by expending non-compete fee, assessee had acquired an enduring benefit of an ephemeral nature. Therefore, the question which follows is whether such payment would be eligible for depreciation under Section 32(1) of the Act? 14.3. In this connection

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

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

depreciation in investments. (3) Such provisions shall not be appropriated from the general provisions and loss reserves held, if any, by the NBFC. (4) Such provisions for each year shall be debited to the profit and loss account. The excess of provisions, if any, held under the heads general provisions and loss reserves may be written back without making adjustment

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

35, read with clause (4) of section 43 owned by the assessee which was or has been used for the purposes of business after it ceased to be used for the purpose of scientific research related to the business is sold, discarded, demolished or destroyed, the provisions of this sub-section shall apply as if for the words “actual cost

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

iv) says that such deduction shall be allowed only in relation to the profits derived from laying of such network of new lines for transmission or distribution. 15.5. Crucial to the present discourse is sub-section (8) of Section 80- IA. Sub-section (8) reads as under: 33 (8) Where any goods held for the purposes of the eligible business

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

Section 35(1)(iv) of the IT Act, 1961 by wrongly relying on the decision in ITA 1546/JP/95 dated 30.3.2001? 5. Whether in the facts and circumstances of the case, the Division Bench of the High Court was justified in law in affirming the findings the ITAT allowing the depreciation

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

Appeals are disposed of with the aforementioned directions

iv. In any event, the Assessee cannot be said to have been prejudiced in any manner whatsoever by the order of the High Court, as the appeal although was improperly filed may be held to be maintainable. 19. The principal question which arises for consideration is as to whether the order of assessment was passed at the instance

COMMR.OF INCOME TAX,RAJKOT vs. M/S GUJARAT SIDDHI CEMENT LTD

The appeal is disposed of accordingly

Bench: The Commissioner Of Income Tax (Appeals) (In Short ‘Cit(A)’). The Disallowance Made By The Assessing Officer Was Upheld By The Cit(A) On The Ground That No Arguments Were Advanced & No Factual Details Were Furnished Regarding The Alleged Fluctuation On Account Of Foreign Exchange Rate. The Matter Was Carried In Further Appeal By The Assessee Before The Income Tax Appellate Tribunal, Rajkot (In Short ‘Tribunal’) Which Allowed The Claim Placing Reliance On A 2

depreciation and other allowances because the allowance of development rebate can result in an assessee claiming allowances exceeding the original cost. It may be that the legislature thought that, though development rebate was intended to promote development of industries, this could not be allowed at the cost of the foreign exchange resources of the country which are also depleted 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 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

UDAIPUR SAHKARI UPBOKTA THOK BHANDER LD. vs. COMMR.OF INCOME TAX

iv) of the 1922 Act. On reading the above judgment it becomes clear that under Section 80P(2)(e) of the 1961 Act, an assessee is entitled to claim special deduction from its gross total income to arrive at total taxable income. It is a special deduction which is provided for in that Section. It is not a charging section

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

IV without giving effect to set off of brought forward losses under Chapter VI or unabsorbed 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

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

depreciation on the plant and machinery used for that business) as well as deduction under section 35(1)(iv) (capital

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

The appeals are allowed and the

iv) the amount of the loss or the amount of depreciation which would be required to be set off against the profit of the relevant previous year as if the provisions of clause (b) of the first proviso to sub-section (1) of Section 205 of the Companies Act, 1956 (1 of 1956), are applicable. (2) Nothing contained

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

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

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

IV without giving Civil Appeal No.________ of 2014 & connected matters Page 16 of 57 (arising out of S.L.P. (C) Nos. 540 of 2009) Page 17 JUDGMENT effect to set off of brought forward losses under Chapter VI or unabsorbed depreciation under sub- section (2) of section 32; (b) of a firm, returned income and total income assessed for each

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

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

IV Cochin (briefly “the CIT(A)” hereinafter). Assessee raised the ground that it had disclosed all material facts necessary for completing the assessments. The assessments having been completed under Section 143(3) of the Act, the assessments could not have been reopened after expiry of four years from the end of the relevant assessment year as per the proviso

SUNDARESH BHATT vs. CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS

Bench: HON'BLE THE CHIEF JUSTICE

1: Rational & Design (November 2015), available at , last accessed 06-07-2022. Page 28 of 59 Civil Appeal No.7722 of 2021 and Civil Appeal No.7731 of 2021 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