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 under Section 32 cannot be allowed. Section 29 is thus to be read with reference to other provisions of the Act. It is not in itself a complete code.” 7) He also referred to sub-sections (9

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. 57. This Court is called upon to decide the ambit of the word ‘owner’ in section 69A in the facts before us. This Court agrees with the High Court that the concept of ‘owner’ cannot be divorced from the context in which the expression is employed. In the case of Jodha Mal (supra), the property undoubtedly

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 on non- compete fee, it being an intangible asset, under Section 32(1)(ii) of the Act. Civil Appeal No. of 2025 (Arising out of SLP(C) No. 24756 of 2014) 9

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

9. Shri Sameer Parekh, learned counsel appearing for the appellant submitted that Part D of the Act reads as "Profit and Gains of Business or Profession". That, Section 32 relates both to "business" as also "profession" and since Section 32(1) of which (iv) is a sub clause, the assessee carrying on profession would be entitled to the depreciation

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

9. Further conditions for the use of ITC are prescribed by sub-section (2) of Section 16. Civil Appeal No.2948 of 2023 etc. Page 42 of 91 28. Sub-section (3) of Section 16 is of some relevance as it provides that if a registered person has claimed depreciation

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

Bench: HON'BLE THE CHIEF JUSTICE

section further provided such depreciation allowance can be carried forward if the business or profession for which the depreciation allowance was originally computed, continued in the previous year relevant to the assessment year in question. It may be apposite to note that the said proviso has since been omitted by the Finance Act, 2001 w.e.f. 1st April, 2002. Page 9

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

9 assets” as defined under Section 2(11) of the 1961 Act. As stated, this judgment is confined to depreciable

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

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

depreciation was 6 computed, actually allowed or carried forward, for no fault of the assessee, the "written-down value" may, under clause (b) of Section 43(6), also, be the actual cost of the assets to the assessee.” 9

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

9 Rs.48,11,72,000.00 as against Rs.80,10,38,505.00 claimed by the assessee. 9.1. In its order dated 07.06.2007, Tribunal noted that the dispute between the parties related to the manner of computing profits of the undertaking of the assessee engaged in the business of generation of power for the purpose of relief under Section

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

9. In the case of Commissioner of Income-tax v. Associated Fibre and Rubber Industries (P) Ltd. \026 (1999) 236 ITR 471, the Division Bench of this Court held as follows: "Even though the machinery has not been actually used in the business at the time when the assessment was made, the same has to be treated as a business

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

depreciation of— (i) .. (ii)know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, owned, wholly or partly, by the assessee and used for the purposes of the business 9 or profession, the following deductions shall be allowed— Explanation

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

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

depreciation under Section 32(1)(ii-a) of the IT Act. 4.7 It is submitted that exactly the same principle applies to the interpretation of Section 10B (8) of the IT Act. Section 10B (8) enables an assessee to exclude the applicability of the deduction under Section 10B by filing a declaration to that effect before the last date

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

The appeals are allowed and the

section 205(2) of the Act shall be disclosed by way of a note.\024 This makes it clear that Schedule VI to the 1956 Act does not create any obligation on a company to provide for any depreciation much less provides for depreciation as per Schedule XIV to the Act. It was also submitted by the appellant that

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

The appeal is partly allowed

Section 32 provides depreciation of capital assets in respect of buildings, machinery, plant or furniture. [1027 E] C.I.T. v. Taj Mahal Hotel, [1971] 82 ITR 44; Municipal Corporation of Greater Bombay & Ors. v. Indian Oil Corporation Ltd., JT (1990) 4 SC 533 and C.I.T. v. Ram Gopal Mills Ltd., 4 ITR 280, referred to. 8. Depreciation allowance is in respect

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

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

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

9 which was carried on by the assessee at any time during the previous year.” Income from profits and gains of business or profession, how computed: Section 29: “The income referred to in section 28 shall be computed in accordance with the provisions contained in sections 30 to 43D.” General: Section 37 : “(1) Any expenditure (not being expenditure