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Case Law Details

Case Name : CIT vs. V.S. Dempo Company Ltd. (Supreme Court)
Related Assessment Year : 1989-90
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Advocate Akhilesh Kumar Sah

Section 54E of Income Tax Act,1961 does Not Make Any Distinction Between Depreciable Asset And Non-Depreciable Asset And, Therefore, The Exemption Available to the Depreciable Asset Under Section 54E Cannot Be Denied By Referring to the Fiction Created Under Section 50

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One Comment

  1. Deepak Soni says:

    The judgement which is applicable to the Sec 50 as it stood at the relevant time is totally outdated and should not have found any place here.The author with due respect to him ought to have stated by way of caveat that the decision shall not govern the present position of law.Reading the article which is misguiding in nature should not have been published because it is wastage of time and energy.

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