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2021 (11) TMI 1131 - HC - Income TaxDepreciation on assets leased to others - HELD THAT:- Substantial question of law No.1 raised by the revenue, the issue is no more res integra in view of the ruling of this Court in the assessee’s own case [2020 (11) TMI 344 - KARNATAKA HIGH COURT] wherein the order of disallowing depreciation of asset had been answered in favour of the assessee. MAT applicability u/s 115JB on banking companies - HELD THAT:- Substantial question of law which has been admitted by this Court as aforesaid, the Co-ordinate Bench of this Court in M/s.ING Vysaya Bank Limited[2020 (1) TMI 1116 - KARNATAKA HIGH COURT] has categorically held that the provisions of Section 115JB(2) of the Income Tax Act, 1961 do not apply to the Banking Companies. We have no reason to differ from the same. Accordingly, we answer the said substantial question of law in favour of the assessee and against the revenue
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