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THE COMMISSIONER OF INCOME TAX Versus M/s. KERALA KAUMUDI (P) LIMITED, THIRUVANANTHAPURAM

2015 (8) TMI 423 - KERLA HIGH COURT

Reopening of assessment - installation of the Rotary Printing Press was not completed in the assessment year 1982-1983 and that therefore, the investment allowance and depreciation granted in the assessment order was irregular - Held that:- Facts are .....

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ore the Assessing Officer a bill issued it for undertaking printing work. However, the Assessing Officer declined to act upon that bill stating that it lacked any evidentiary value. The reason for such conclusion was that it was issued to a related c .....

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this finding. This therefore, shows that the fundamental basis on which the assessment was re- opened itself was untenable. If that be so, the Tribunal was justified in upholding the order of the Commissioner setting aside Annexure - A, the re-opened .....

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Y, JJ. FOR THE APPELLANT : SRI.JOSE JOSEPH, SC, FOR INCOME TAX FOR THE RESPONDENT : SRI.SAJI VARGHESE JUDGMENT Antony Dominic,J. This appeal is filed by the Revenue challenging the order passed by the Income Tax Appellate Tribunal, Cochin Bench in IT .....

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was allowed and Annexure-A assessment order was set aside. 2. Briefly stated the facts of the case are that the assessee company is engaged in printing and publishing of a newspaper by name 'Kerala Kaumudi'. In the assessment year 1982-1983, .....

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sessing Officer. 3. In the subsequent assessment year 1983-1984, the assessee claimed deduction of ₹ 68,371/- as revenue expenditure towards installation of the printing press in question. That was disallowed by the Assessing Officer. In the ap .....

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e assessment for the year 1982-1983 was re-opened and in Annexure-A order, the Assessing Officer withdrew the investment allowance and depreciation originally granted. This order was set aside by the Commissioner of Income Tax (Appeals), whose order .....

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ened was that the installation of the Rotary Printing Press was not completed in the assessment year 1982-1983 and that therefore, the investment allowance and depreciation granted in the assessment order was irregular. 7. Facts are evident from the .....

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