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The Commissioner of Income Tax, City-II, Mumbai Versus M/s. National Peroxide Ltd.

2015 (8) TMI 767 - BOMBAY HIGH COURT

Depreciation and investment allowance on the plant and machinery - Whether the Tribunal justified directing AO to allow allowances when the Assessee had not carried out any manufacturing activity during the previous year relevant to the Assessment Ye .....

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l is valued at ₹ 9.88 lacs therefore follows that the tax effect in the present appeal is less than ₹ 10 lacs. This Court in CIT Vs. Vijaya Kavekar [2013 (2) TMI 451 - Bombay High Court] while dealing with appeals filed by the revenue dis .....

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appeals. The questions which arise for our consideration in the present appeal would not give rise to any cascading effect - Decided against revenue - Income Tax Appeal No. 106 of 2002 - Dated:- 11-8-2015 - M. S. Sanklecha And N. M. Namdar, JJ. For .....

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tted on 23 April 2004 on the following substantial questions of law: (A) Whether on the facts and circumstances of the case and in law, the Tribunal was justified in directing the Assessing Officer to allow depreciation and investment allowance on th .....

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holding that the provisions of Sec. 37(3A) are not applicable to the expenses incurred on repairs and taxes of Motor Cars? 3. It is an undisputed position that the disputed claim in the appeal is valued at ₹ 9.88 lacs therefore follows that the .....

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ing reliance upon Central Board of Direct Taxes (the 'CBDT') Instruction NO.3/2011. This Court held that the circular/instruction issued by CBDT would apply to pending appeals. 5. The CBDT has now issued Instruction No.5/2014 wherein it has a .....

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present appeal would fall within the exclusion clause under Instruction No.5/2014. Therefore we are inclined to dismiss this appeal. 6. However, Mr. Suresh Kumar, the learned Counsel for the revenue urges that the aforesaid two questions would have .....

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l would not give rise to any cascading effect. So far as Question (A) is concerned, it seeks to disallow depreciation and investment allowance on the ground that plant and machinery was not put to use during the relevant assessment year. This would n .....

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