Case Law Details
Case Name : Commissioner Of Income-Tax Vs Arun Textile (Gujarat High Court)
Appeal Number : 1991 192 ITR 700 Guj
Date of Judgement/Order : 25/06/1991
Related Assessment Year :
Courts :
All High Courts Gujarat High Court
Sponsored
Issue- Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that two courses were open to the assessee, one being to claim depreciation and the other being forgo the depreciation and any course which is beneficial to the assessee could be adopted and the incidence of tax can be legitimately reduced ?
Held – In CIT v. Shri Someshwar Sahakari Sakhar Karkhana Ltd., [1989] 177 ITR 443, the Division Bench of the Bombay High Court, while considering the questions which arose in that matter, held that there were two proconditions to the allowance of a deduction for depreciation, namely, that the assessee should have asked for deprecation and that prescribed particulars should have been furnished. We find ourselves in agreement with the reasoning of and the conclusion arrived at in the said decision.
Gujarat High Court
Commissioner Of Income-Tax
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Sponsored
Kindly Refer to
Privacy Policy &
Complete Terms of Use and Disclaimer.