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Commissioner of Income Tax-I, Ludhiana Versus Rakesh Gupta

2015 (7) TMI 371 - PUNJAB & HARYANA HIGH COURT

Disallowance made under Section 36(1)(iii) - Disallowance of higher depreciation on installation of electrical line for power transmission and metering treated as not part of Wind Mill - Power evacuation infrastructure as part of wind mill - Deprecia .....

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for business. The Tribunal noted that the AO had in fact accepted that no such borrowed funds had been diverted/advanced by the assessee to his son. There was no nexus between the funds borrowed by the assessee and the funds diverted/advanced to his .....

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Income Tax-I, Ludhiana Vs M/s Eastman Impex [2015 (1) TMI 436 - PUNJAB & HARYANA HIGH COURT]. The questions are answered against the appellant/department. - Decided against the revenue. - ITA-37-2014 - Dated:- 2-7-2015 - S. J. Vazifdar, Acting Chief .....

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the facts and circumstances of the case, the Hon ble ITAT was right in law in upholding the order of the ld. CIT(A) wherein disallowance made under Section 36(1)(iii) was deleted ignoring the judgement of Hon ble Punjab & Haryana High Court in th .....

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owance of higher depreciation on account of expenditure on installation of electrical line for power transmission and metering treated as not part of Wind Mill by the A.O. was deleted by the CIT(A)? (iii) Whether on the facts and circumstances of the .....

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y device and hence not eligible for depreciation @ 80%? (iv) Whether on the facts and circumstances of the case, the Hon ble ITAT was right in law in allowing depreciation on contribution for power evacuation facility even though the assessee has no .....

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M/s Eastman Impex (ITA-350-2013). The questions are answered against the appellant/department. The appeal as far as these questions are concerned is, therefore, dismissed. 3. As regards question (i), the appellant s case is that an amount of ₹ .....

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difference. The Tribunal has rightly upheld the detailed and reasoned order of the CIT (Appeals). The CIT (Appeals) has analyzed the cash available with the respondent. For instance, the opening balance of capital as on 01.04.2007 was about ₹ .....

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