Back
RAJIV SHAKDHER, GIRISH KATHPALIA
Principal Commissioner of Income Tax-6, New Delhi – Appellant
Versus
Minda Stoneridge Instruments Ltd. – Respondent
JUDGMENT
[Physical Hearing/Hybrid Hearing (as per request)]
Rajiv Shakdher, J. (Oral)
1. This appeal concerns Assessment Year (AY) 2010-11.
2. Via this appeal, the appellant/revenue seeks to assail the order dated 05.09.2016 passed by the Income Tax Appellate Tribunal [in short, "Tribunal"].
3. Mr Sunil Agarwal, learned senior standing counsel, who appears on behalf of the appellant/revenue, says that the only issue which arises for consideration is: whether the respondent/assessee had claimed, in point of fact, deduction for capital expenditure incurred on the scientific equipment, during the relevant period?
3.1. This aspect is set out, in the form of proposed questions, in paragraphs 2.1 to 2.3 of the appeal. For the sake of convenience, the same are extracted hereafter:
"2.1, Whether Ld. ITAT erred in law in failing to appreciate that once the Assessee had omitted to claim deduction of Rs.3,46,32,282/- under Section 35 of the Act, in the return of income, the deduction could only be claimed by filing revised return before the Ld. AO?
2.2, Whether the Ld. ITAT erred in law, qua disallowance of Rs. 3,46,32,282/- under Section 35 of the Act, by holding that the Assessee even after
The weight of the evidence and the interpretation of Section 35 of the Income Tax Act influenced the court's decision in upholding the deduction claimed by the respondent.
Survey discrepancies in machinery valuation do not justify disallowance of section 80IC deduction or depreciation without rejecting books of account; late return does not bar deduction if Form 10CCB ....
The court's decision was based on the interpretation and application of the Income Tax Act provisions related to disallowance under Section 14A, deletion of expenses under Section 37(1), and the trea....
The main legal point established in the judgment is that the rate of depreciation should be determined based on the integral nature of the equipment and that subsidies received as capital receipts sh....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
