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The assessee had two divisions, one at Dombivili and the other at Surat. The division at Surat was closed since two/three years. The assessee claimed depreciation on the assets of the said Surat division which was rejected by the AO and the CIT (A) on the ground that the assets were not “used” and depreciation could not be allowed. On appeal by the assessee, HELD allowing the appeal: Full Article

The assessee purchased machinery which was not put to use during the year though it formed a part of the “block of assets”. On the question whether depreciation on the said machinery was allowable, the Tribunal held that once a particular asset falls within the block, it is added to the WDV and depreciation is to be allowed on the block. Full Article

It is the burden of the assessee to show and demonstrate what kind of relationship or what kind of love and affection the donor has with the assessee, and to explain circumstances in which gifts are made. Full Article

Justice KK Sasidharan, directing the reinstatement of three industrial workers dismissed from service 17 years ago, said: “Admission (of guilt), to be used against the maker, should be clear, unambiguous, unequivocal and without any scope for two interpretations. It should lead to a clear conclusion of admission.” Full Article

Once an appeal against the order passed by an authority is preferred and is decided by the appellate authority, the order of the said authority merges into the order of the appellate authority; with this merger, order of the original authority ceases to exist and the order of the appellate authority prevails; the limitation for the purpose of section 154(7) is to be counted from the date of this order of CIT (A) and not the date of original order of assessment. Full Article

The expression marketing as occurring in section 80P(2)(a)(iii) , is a comprehensive term; it does not mean merely buying and selling; it includes processing which may be necessary for making the agricultural produce marketable; hence, for the co-operative society with members being growers, the deduction under section 80P(2)(a)(iii) is available even if the agricultural produce is marketed without further processing or even if it is processed with the use of power. Full Article

Himachal Pradesh Environment vs. CIT (ITAT Chandigarh) The assessee, a statutory Board, was set up for prevention of pollution of streams and wells in the State and other allied activities. It derived income from various testing charges etc. The CIT granted registration u/s 12AA of the Act on the basis that the activities of the [...] Full Article

Gilbs Computer vs. ITAT (Bombay High Court) The assessee, having been assessed to a loss of Rs. 9 crores, filed an appeal before the Tribunal. S. 253 (6) provides that if the assessed ‘total income’ is “less” than Rs. 1 lakh, a fee of Rs. 500 for filing the appeal is payable while if the [...] Full Article