S. 32 :Depreciation-Commission-Liquidated damages-Deduction from sale consideration-Matter remanded. [S. 37(1)
TE Connectivity India P. Ltd. v. Dy. CIT, LTU (2022) 99 ITR 379 (Bang) (Trib)
Digest of case laws
Online digest of latest case laws
This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws S. 32 : Depreciation-Unabsorbed depreciation–Carry forward and set off-Could be set off during any number of years in view of the provisions of S. 32(2) as amended by Finance Act, 2001.[S. 32(2)]
ACIT v. J. K. Fenner (India) Ltd. (2022) 220 TTJ 595 (Chennai)(Trib)S.32: Depreciation-Ownership of property-Possession of property-Full payment was made-Registration was completed within six date of agreement-Ownership relates back to date of agreement.[Indian Registration Act, 1908, 23, 47]
Jet Freight Logistics Ltd. v. CIT (Appeals) (NFAC) (2022)99 ITR 37 (SN)(Mum) (Trib)S. 32 : Depreciation-Suspension of business activities-generation and sale of electricity-Kept the asset for ready to use-Eligible for depreciation-Interest disallowance-Matter remanded for verification. [S. 32(1)(ii), 36(1)(iii)]
Sambhav Energy Ltd. v. ACIT (2022) 220 DTR 305/ 220 TTJ 1147/(2023) 199 ITD 750 (Jodhpur) (Trib)S. 32: Depreciation-Additional depreciation-Put to use less than 180 days-Balance additional depreciation of 10 Per Cent. can be claimed in succeeding assessment year. [S. 32(1)(ii)), 32(1)(iia)]
Dy. CIT v. Haldiram Snacks Pvt. Ltd. (2022) 98 ITR 75 (SN)(Delhi) (Trib)S. 32: Depreciation-Matter remanded for verification.
VMware Software India P. Ltd. v. Dy.CIT (2022)98 ITR 219 (Bang) (Trib)Advocates Act , 1961 .
S. 16: Senior and other advocates – Regulation of process for designation as Senior Advocates –Fine tuning of process – The designation of Senior Advocates in India is a privilege awarded as a mark of excellence to advocates who have distinguished themselves and have made a significant contribution to the development of the legal profession – Objective is to provide better assistance to litigants and the Courts . [ S.16(2), Art, 32 ]
Indira Jaising v. Supreme Court of India , Through Secretary General AIR 2023 Supreme Court SC 3009S. 32 : Depreciation-Capital or revenue-Setting up of plant-Facts identical to assessee’s earlier own case-Details of expenditure to be furnished for verification. [S. 37(1)]
Toyota Boshoku Automotive India Pvt. Ltd. v. ACIT (2022) 98 ITR 363 (Bang) (Trib)S. 32: Depreciation-Molasses Tanks-Matter remanded for verification.
Sasamusa Sugar Works Pvt. Ltd. v. Dy. CIT (2022) 98 ITR 235 (Kol) (Trib)S. 32: Depreciation-Additional depreciation-Claim not made in return-Subsequent letter the Assessing Officer-Justified in allowing the claim.
Oswal Woollen Mills Ltd. v. Add. CIT (2022)98 ITR 521 (Chd) (Trib)