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

The appeals are allowed; the impugned orders are

Section 43A of the Act for the purposes of depreciation. The foreign exchange loss incurred by the Assessee in the revenue

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

Section 43A(1). All allowances including development rebate or depreciation allowance or the other types of deductions referred to in the sub-section

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

The appeal is allowed with no order as to costs

depreciation as under section 43A actual payment was a condition precedent for availing the benefit under that section. According to the Tribunal

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

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

The appeals are allowed to the aforesaid extent

43A(1) of the Act read as under: Section 32A- INVESTMENT ALLOWANCE. (1) In respect of a ship or an aircraft or machinery or plant specified in sub-section (2), which is owned by the assessee and is wholly used for the purposes of the business carried on by him, there shall, in accordance with and subject to the provisions

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

The appeal is allowed in terms of the signed

Section 43A of the 1961 Act.  Accordingly, the exposition in this decision will be of no avail to the fact situation of the present case.   For, we have already noticed that   the   appellant   had   not   acquired   any   asset   from   any   country outside India for the purpose of his business. 13. In   view   of   the   above,   this   appeal   ought   to   succeed