The Commissioner of Income Tax - IV vs. M/s. Mekins Agro Product (P) Ltd.

46, it has been noted as follows : "Depreciation is the exhaustion of the effective life of a fixed asset owing to ' use ' or obsolescence. It may be computed as that part ofthe cost ofthe asset which will notbe recovered when the asset is finally put out of ^ use. The object of providing for depreciation is to spread the expenditure, incurred

M/s.V.R.Farms Pvt Ltd vs. Deputy Commissioner of Income Tax

The appeals are dismissed

Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO

depreciation. The rate of minimum tax was kept at a modest figure deeming 30 per cent of book profits as total income. This modest amount is likely to go down further with the downward revision of corporate tax rate to 35 per cent and abolition of surcharge. xxxx xxxx xxxx xxxx 45.4 The Act also inserts a new section 115JAA

Commissioenr of Income Tax vs. Dr. T. Ravi Kumar

depreciation loss of Rs. 114,47,28,440/-. The same was subsequently revised under section 154 at a loss of Rs. 114,46

The Commissioner of Income Tax- I vs. M/s. Avon Organics Limited

Bench: GODA RAGHURAM,M.S.RAMACHANDRA RAO

46 ITR 820.This is a case under the Wealth-tax Act and the expression " set up " came to be interpreted in the context of section 5(1)(xxi) as exemption was claimed as a new and separate unit set up after the commencement of the Act. The Madras High ITA 257/2012 Page 9 of 18 Court at page 824 observes

Commissioner of Income Tax (TDS), vs. M/s Country Club Inda Limited

depreciation or any other indirect costs in its accounts. Further, the Assessee had also not showed any source of funds. The AO noted that the equipment stated to have been supplied by the Assessee to Reliance was purchased from other group companies, namely, Nortel Canada and Nortel Ireland and were supplied to Reliance at almost half the price

THE COMMISSIONER OF INCOME TAX III, vs. M/S. SAVIJANA SEA FOODS PVT. LTD.,

Appeals of the Revenue are dismissed

Bench: J SREENIVAS RAO,ALOK ARADHE

depreciation, reserves, etc., a part of it should in all fairness go to the employees.” 30. In the said case the Supreme Court was considering whether payment for ITA 210/2003 & connected matters Page 17 of 36 the extra services rendered by an employee could be allowed as business expenditure. It was held that for the purposes of allowing commercial

Commissioner of Income Tax, vs. M/s. Kokivenkateswara Reddy AND others,

Appeals of the Revenue are dismissed

Bench: V.V.S.RAO,RAMESH RANGANATHAN

depreciation, reserves, etc., a part of it should in all fairness go to the employees.” 30. In the said case the Supreme Court was considering whether payment for ITA 210/2003 & connected matters Page 17 of 36 the extra services rendered by an employee could be allowed as business expenditure. It was held that for the purposes of allowing commercial

Principal Commissioner of Income Tax-2 vs. M/s Indur Green Power Private Limited

In the result, all the appeals fail and are hereby

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Depreciation 1,05,72,696 1,10,86,334 1,26,18,427 1,39,66,450 Total Expenditure 4,81,29,896 4,75,41,722 5,01,63,902 3,88,21,912 Profit for the year 2,53,21,438 2,09,87,242 62,58,319 836236 Add Balance brought forward

The Commissioner of Income Tax-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

depreciation in respect of such machinery or plant has been allowed or is allowable under the provision of this Act in computing the total income of any person for any period prior to the date of the installation of machinery or plant by the assessee. Explanation 2.-Where in the case of an [undertaking], any machinery or plant

Commissioner of Income-Tax, vs. Rangaraya Medical College Old Students Association

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

46,$3 units (gross tl OO41 units) of power allocated by the 3rd respondent pending disposal of the Writ Appeal' 2l Counsel for the Appellant: SRI PRASHANTH VRN FOR M/s. INDUS LAW FIRM Counsel for the Respondent No.l & 2: SRI R. VINOD REDDY (SC FOR TS TRANSCO) Counsel for the Respondent No.3: SRI M. KARTHIK PAVAN KUMAR

The Commissioner of Income Tax-II, vs. M/s Padmapriya Real Estates AND Financiers

In the result, the appeal is allowed and the impugned judgment passed by

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

Section 313 of Cr.P.C. has also been recorded in which he denied the circumstances appears against him, plead innocence and have submitted that he was posted as Junior Engineer from April 1978 to 1979 at PNT Department, Nasik. He was working since February 1980 in Irrigation Department. But the income of the said period was not counted. His wife

Shri Maneklal Agarwal vs. The Deputy Commissioner of Income Tax

The appeals are allowed and

Bench: A RAMALINGESWARA RAO,DILIP B. BHOSALE

46 years, wife of Sh. Vinod Kumar All residents of 116-A, Bakshi Nagar, Jammu Appellants Nos. 1 and 3 to 7 th. their power of attorney, Shri Pran Nath, appellant No. 2 Through: Mr. Z. A. Shah, Sr. Adv. with Mr. Jagpaul Singh, Adv. Q vs Shri Raghubir Khajuria, Son of Shri Hari Chand Khajuria

Principal Commissioner of Income Tax - 5 vs. M/s Vijay Textiles Limited

The appeal is dismissed

Bench: RAMESH RANGANATHAN,M.SATYANARAYANA MURTHY

depreciation relating to fixed assets acquired for the development and related expenses and the sale price of the undivided share in the land at the rate of Rs.150/- per square foot payable by the intending purchasers as per Article 6 hereof. 8.3 The amount payable to the First Party under Article 8.1 be paid together with the sale price