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Awasthi Traders Versus Commissioner of Income-Tax-I, Agra And Another

2016 (11) TMI 894 - SUPREME COURT

Entitlement for depreciation under Section 44A(2) - Held that:- Admittedly, the proviso to Section 44AD of the Income Tax Act, 1961, is applicable to the appellant-assesse in view of the fact that its income for the assessment year in question, i.e. .....

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andatory. - The above facts have been over looked by the High Court in holding that Section 44AD is applicable to the case of the appellant-assessee. We, therefore, set aside the order of the High Court as well as the order of the assessment and .....

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or the Petitioner : Mr. Pawanshree Agrawal, Adv For the Respondent : Mr. K. Radhakrishnan, Sr. Adv. Mr. H. Raghavendra Rao, Adv. Mr. Arijit Prasad, Adv. Ms. Mukti Choudhary, Adv. Mrs. Anil Katiyar,Adv. Mr. B. V. Balaram Das,Adv. CIVIL APPEAL NO(S).87 .....

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C) No.15352/2014) CIVIL APPEAL NO(S).8742 OF 2016 (Arising out of SLP(C) No.15447/2014) CIVIL APPEAL NO(S).8743 OF 2016 (Arising out of SLP(C) No.2720/2016) CIVIL APPEAL NO(S).8744 OF 2016 (Arising out of SLP(C) No.22533/2014) ORDER C.A. No.....@ SLP .....

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n question, i.e. 2009-2010, is above ₹ 40,00,000/- (Rupees forty lakhs only). If that is so, the bar to the entitlement for depreciation under Section 44A(2) of the Act will not apply. Grant of depreciation under Section 32 of the Act would, th .....

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