Kuchipudi Krishna Kishore vs. The DCIT

Accordingly the appeals deserves to be allowed by setting aside the impugned

Bench: P.SAM KOSHY,N.TUKARAMJI

disallowance of the assessee claimed for deduction. Further the aspect raised by the appellant I 6 l'il.l\\IIil tIl \. :rl.:'):Ntrt ji'- was discussed and determined threadbare by the forums below Hence no tenable ground is made out for interference in appeal. 10. The submissions of the learned counsel are duly considered and the materials on record are perused

The Commissioner of the Income Tax IV vs. Satya Prasad Anagani,

In the result, we do not find any merit in the

dividend income, which was exempt from tax. The Assessing Officer without examining the quantum of expenditure incurred by the assessee for earning the exempt income, proceeded to complete the assessment. It was further noticed that expenditure incurred for earning exempt income has to be disallowed under Section14A of the Act. 4 3. Thereupon, the Commissioner of Income Tax issued

COMMISSIONER OF INCOME TAX vs. M/S K.VENKATESWARA RAO

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

disallowances made by the Assessing Officer, the apepllant preferred first appeal before the learned CIT(Appeals) who granted partial relief to the appellant. 2.1 Being aggrieved by the order passed by the learned Page 2 of 14 O/TAXAP/186/2003 JUDGMENT CIT(A) the appellant as well as respondent preferred appeals before the Tribunal, Ahmedabad Bench. The Tribunal vide impugned orders dismissed

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

disallowed the exemption while finalizing the assessment under section 143(3) of the Act. Thus, it appears that the belief that income chargeable to tax escaped assessment is that of the Revenue Audit Party and not of the Assessing Officer. In the circumstances, the condition precedent for exercise of powers under section 147 of the Act, namely, that the Assessing

Commissioner of Income Tax vs. J Charan Kumar [HUF]

The appeals are dismissed

Bench: J. UMA DEVI,V RAMASUBRAMANIAN

deemed to be capital when it is made for the initiation of a business, for extension of a business, or for a substantial replacement of equipment : vide Lord Sands in IRC v. Granite City Steamship Co. Ltd. [IRC v. Granite City Steamship Co., 1927 SC 705 : 13 TC 1 at p. 14] at TC p. 14. In City of London

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

disallowance. We feel the assessee should be allowed to write back the depreciation for this year and even for previous and then allow the same to be carried forward for application for subsequent years. It is for the assessee to write back depreciation and if Hi >- V II done the Assessing Officer will modify the assessment determining higher income