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The Commissioner of Income Tax Versus Marwar Hotels Ltd.

2016 (10) TMI 354 - GUJARAT HIGH COURT

Eligibility to depreciation claim - Electrical installation treated as “Plant and Machinery” - Held that:- The controversy raised in this case stands settled by a Division Bench judgment of this Court in the case of Commissioner of Income tax v. Expr .....

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mitted that the Division Bench took the aforesaid view by following the decision of the Apex Court in the cases of CIT v. Taj Mahal Hotel, [1971 (8) TMI 2 - SUPREME Court ] and CIT v. Anand Theatres [2000 (5) TMI 4 - SUPREME Court ] . - Decided in fa .....

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OPPONENT JUDGMENT ( PER : HONOURABLE MR.JUSTICE KS JHAVERI ) 1. This Tax Appeal is filed under Section 260A of the Incometax Act, 1961 challenging the order dated 20.10.2006 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench D in ITA No.88 .....

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/s.263 ? 2. Briefly stated, the facts are that the assessee filed its return of income for the A.Y. 20022003 on 31.10.2002 declaring loss of ₹ 13,56,62,312/. The assessment was finalized u/s.143(3) of the Act on accepting the returned income. O .....

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3. The assessment finalized by the Assessing Officer resulted into under assessment of income to the extent of ₹ 79,40,920/due to incorrect allowance of depreciation. The assessment was, therefore, held as erroneous vide order passed u/s.263 of .....

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sessee vide impugned order dated 20.10.2006. Hence, this Tax Appeal. 5. We have heard learned Senior Advocate Mr. M.R. Bhatt appearing for the Revenue and learned advocate Mr. B.S. Soparkar appearing for the assessee. 6. At the outset, Mr. Soparkar, .....

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