| COURT: | |
| CORAM: | |
| SECTION(S): | |
| GENRE: | |
| CATCH WORDS: | |
| COUNSEL: | |
| DATE: | (Date of pronouncement) |
| DATE: | June 10, 2008 (Date of publication) |
| AY: | |
| FILE: | |
| CITATION: | |
It is not mandatory for an asseessee to claim depreciation prior to the insertion of Explanation 5 to s. 32. Vahid Paper Converter vs. ITO 100 TTJ 532 (Ahd) (SB) distinguished.
Related Posts:
- Technimont Pvt Ltd vs. ACIT (ITAT Mumbai) The effect of Hon’ble Supreme Court’s judgment in PVAL Kulandagan Chettiar 267 ITR 654 (SC) thus was clearly overruled by the legislative developments. It was specifically legislated that the mere fact of taxability in the treaty partner jurisdiction will not take it out of the ambit of taxable income of…
- Kaushik N. Tanna vs. ACIT (ITAT Mumbai) Since, in the present case, the order has been pronounced one day beyond 90 days prescribed under the Rules, we respectfully following the order of the Hon’ble High Court discussed above, recall the order dated 09.11.2017 without going into the merits of the other grounds raised in the application, for…
- Hemant M Mehta HUF vs. ACIT (ITAT Mumbai) It is clear from the above decisions that in case of bogus purchases where sales are accepted, the addition is required to be made only to the extent of difference between the GP declared by the assessee on normal purchases vis a vis bogus purchases
- Kamal Galani vs. ACIT (ITAT Mumbai) It is the case of the Ld. AO that account with HSBC bank , Geneva is opened by resident Indian and black money earned by such resident Indian has been stashed abroad without paying taxes/disclosing income in India. But, fact remains that in the instant case, the account was opened…
- M/s. Deekay Gears vs. ACIT (ITAT Mumbai) This is amply clear from the Section 251(1)(a) and (b) and Explanation to Section 251(2) of the Act which requires the CIT(A) to apply his mind to all the issues which arise from the impugned order before him whether or not the same has been raised by the appellant before…
- Bank Of India vs. ACIT (ITAT Mumbai) In the present case, our entire focus was on whether these foreign tax credits could be allowed even when such tax credits lead to a situation in which taxes paid abroad could be refunded in India, but that must not be construed to mean that, as a corollary to our…
Related Judgements
- ITO vs. Ellora Silk Mills (ITAT Mumbai)
(i) Where the AO had accepted in the past that the warehousing charges received by the assessee was business income, he was not justified in reopening the assessment to assess the charges as property income in the absense of any … ITO vs. Ellora Silk Mills (ITAT Mumbai)…
- Amway India vs. DCIT (ITAT Delhi Special Bench)
(i) The question whether expenditure is on capital or revenue account should be decided from the practical and business view point and in accordance with sound accountancy principles. The three tests applied to decide the nature of expenditure are the … Amway India vs. DCIT (ITAT Delhi Special…
- Narang Overseas vs. ACIT (ITAT Mumbai 5 Member Special Bench)
(i) The judgement of the SC in Mariappa Gounder vs. CIT 232 ITR 2 does not decide whether mesne profits received against wrongful possession of property is in the nature of revenue receipt or capital receipt. It merely decides the … Narang Overseas vs. ACIT (ITAT Mumbai 5…
- Development Consultants vs. DCIT (ITAT Kolkata)
Where the assessee entered into “international transactions” with “associated enterprises” and the AO made adjustments to the arms length price, held, deleting the adjustments that:
(i) In order to determine the most appropriate method for determining the arm’s length price, it is first necessary to select the ‘tested party’ and…
- Glenmark Laboratory vs. DCIT (ITAT Mumbai)
For purposes of s. 80HHC, the direct cost attributable to the earning of the DEPB license (equal to the value of the license on the date of receipt) has to be reduced from the direct cost of trading goods on … Glenmark Laboratory vs. DCIT (ITAT Mumbai) Read…
Recent Comments