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

3) of the Act the claim of 17 depreciation on non-compete fee was disallowed by following the earlier order of assessment in the case of the assessee itself for the assessment year 1999-2000 holding that the expenditure was in no way connected with the acquisition of various assets. The disallowance in this regard was worked

RENUKA DATLA vs. COMNR. OF INCOME TAX KARNATAKA

3) of the Income Tax Act, 1961 by the Assistant Commissioner. The total tax with interest determined was Rs.44,50,568/-. After adjustment of pre- paid taxes Rs.40,74,820/- remained payable. The appellant preferred an appeal before the Commissioner(Appeal) (referred to as ’CIT(A)’) objecting to the following additions in the assessment order: i) Share of profit from

DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

234B and 234C. Initiate penalty proceedings u/s 271(1)(c) of the Act. Issue demand notice and challan." 10. Thus, in the said order, valuation of the land as made by the District Valuation Officer was adopted and on the basis thereof long term capital gain was determined to be Rs.3,09,78,478 by taking the valuation