Search Results for "depreciation actually allowed"

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Bombay High Court Allows Appeals by Acquiring Body in Land Acquisition Compensat...
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Search Results for "depreciation actually allowed"

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Supreme Court

Supreme Court Allows Appeal in Insurance Claim Dispute — Constructive Total Loss of Hydraulic Excavator Entitles Insured to Full Sum Insured Without Deduction for Underinsurance or Depreciation Applied at Renewal. The Court held that the insurer cannot apply underinsurance or double depreciation when the sum insured was fixed by the insurer at renewal without a fresh proposal form.

1 Feb 2019

The appellant, Sumit Kumar Saha, purchased a Volvo Hydraulic Excavator on 27.03.2007 for Rs.51,74,000/- and insured it with the respondent, Reliance G...

High Court

Bombay High Court Upholds Revenue in Block of Assets Case — Industrial Gala Sale Taxed as Short Term Capital Gain Under Section 50. Non-Use of Asset Does Not Remove It from Block of Assets; Depreciation History Determines Tax Treatment.

29 Sep 2017

The case involves an income tax reference by the Income Tax Appellate Tribunal, Mumbai Bench, at the instance of the assessee, Smt. Meena v. Pamnani, ...

High Court

High Court Allows Amalgamated Company's Claim for Unabsorbed Depreciation of Sick Company Under Section 32(2) of Income Tax Act, 1961. The court held that unabsorbed depreciation of amalgamating company is deemed to be depreciation of amalgamated company under Section 32(6) and can be carried forward irrespective of whether amalgamating company filed returns.

7 Sep 2017

The case involves two income tax appeals filed by M/s. Ballarpur Industries Ltd. (BILT) against the Commissioner of Income Tax, Vidarbha, Nagpur, conc...

High Court

High Court of Karnataka Dismisses Revenue Appeals in Income Tax Exemption Cases for Charitable Trusts and Religious Institutions. Held that registration under Section 12AA and exemption under Section 11 of the Income Tax Act, 1961 cannot be denied solely on the ground of commercial activities if they are incidental to the charitable object.

22 Feb 2016

The High Court of Karnataka heard a batch of appeals filed by the Revenue under Section 260-A of the Income Tax Act, 1961, challenging the orders of t...

High Court

Bombay High Court Dismisses Revenue's Appeal in Depreciation Claim Case. Depreciation Being Optional Cannot Be Thrust Upon Assessee When There Is Total Loss Under Section 80IB of Income Tax Act, 1961.

24 Dec 2014

The Revenue appealed against the Income Tax Appellate Tribunal's order allowing the assessee's appeal. The assessee, a company engaged in hotel busine...

High Court

Bombay High Court Allows Depreciation on Original Cost in Amalgamation Case Under Rule 10 of Income Tax Rules. Notional Depreciation to Non-Resident Parent Does Not Reduce Written Down Value for Successor Company.

13 Aug 2014

The case involves an Income Tax Reference under section 256(1) of the Income Tax Act, 1961, arising from the assessment years 1976-77, 1977-78, and 19...

High Court

High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Penalty Case — Tribunal's Order Upheld for Lack of Substantial Question of Law. Penalty under Section 271(1)(c) of the Income Tax Act, 1961 for alleged concealment of income was deleted by the Tribunal on finding no deliberate concealment.

11 Sep 2013

The case pertains to an appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribu...

High Court

Bombay High Court Dismisses Petition Challenging Arbitral Award in Lease Finance Dispute — Depreciation Disallowance and Penalty Recoverable Under Contract. Arbitrator's interpretation of lease clauses upheld as plausible; no interference under Section 34 of Arbitration & Conciliation Act, 1996.

18 Mar 2013

The petitioner, Aditya Birla Chemicals (I) Limited, filed a petition under Section 34 of the Arbitration & Conciliation Act, 1996, challenging an arbi...

Supreme Court

Supreme Court Considers Challenge to Validity of Central Government Order Prescribing Notional Depreciation for Tax-Exempt Assessees in Merged States. The Order Required Depreciation to be Notionally Computed for Exemption Periods Under Section 6 of the Taxation Laws (Extension to Merged States and Amendment) Act, 1949.

20 Oct 1967

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Supreme Court

Supreme Court Upholds Workmen's Bonus Award by Limiting Depreciation Deduction in Surplus Calculation. Depreciation Admissible Under Income-tax Act Cannot Be Fully Claimed as Prior Charge; Abnormal Additions Like Initial and Additional Depreciation Not Fair to Workmen.

5 Nov 1957

The case arose from an industrial dispute between Sree Meenakshi Mills Ltd. and their workmen concerning payment of bonus for the year 1950–51. The ...

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