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BHARGAV D. KARIA, NIRAL R. MEHTA
Commissioner Of Income Tax – Appellant
Versus
Nirma Limited – Respondent
ORDER :
Bhargav D. Karia, J.
[1] Both these Tax Appeals are admitted on the following substantial questions of law. The writ petitions are pending with the prayer to accept and approve Form 1 and 2 of the petitioner and settle the dispute of pending Tax Appeals under the Direct Tax Vivad se Vishwas Act, 2020 (for short, “DTVSV Act”) and the Rules framed thereunder.
[2] With the consent of learned advocates of both the parties, Tax Appeals and writ petitions are taken up for hearing and depending upon the outcome of the Tax Appeals, prayers made in the writ petitions shall be considered.
TAX APPEAL NO.781 OF 2009 WITH R/SPECIAL CIVIL APPLICATION NO.19378 OF 2021:
[3] Tax Appeal No.781 of 2009 is admitted by order dated 30th August 2010 on the following proposed substantial questions of law for the Assessment Year 1996-97:
(b) Whether on the facts and in the circumstances of the case, the Income Tax A
The court established that deductions under the Income Tax Act should consider the net income derived from industrial undertakings, reinforcing the principle of allowing deductions for expenses direc....
Statutory deductions under income tax should be computed on total income before any specific deductions.
Depreciation claims cannot be imposed on an assessee if not claimed, and deductions under sections 80HHC and 80IA cannot exceed the profits of the eligible business.
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