| |
| The Tax Publishers2020 TaxPub(DT) 2281 (SC) INCOME TAX CT, 1961
Section 261 Section 32
Where the department preferred SLP to appeal agianst the judgment and order of Delhi High Court in CIT v. Software Technologies Parks of India Ltd. dated 30-7-2019 in ITA No. 1345 of 2018, whereby it was held that the issue as to whether Tribunal was right in allowing depreciation in assets, the full cost of which was already allowed as application of income in earlier years, even though allowing the same could lead to a situation where amount of depreciation would exceed the purchase value of the assets, was no longer res integra in view of the decision of Supreme Court in CIT v. Rajasthan & Gujarati Charitable Foundation Poona ((2018) 89 Taxman.com 127 (SC) : 2017 TaxPub(DT) 5384 (SC)) and the issue in this appeal was decided against the Revenue, the Supreme Court dismissed the SLP.
|
Appeal (Supreme Court) - Special leave petition - Depreciation - Depreciation on assets -- Full cost was already allowed as application of income in earlier years
Department preferred SLP to appeal against the judgment and order of Delhi High Court in CIT v. Software Technologies Parks of India Ltd. dated 30-7-2019 in ITA No. 1345 of 2018, whereby it was held that the issue as to whether Tribunal was right in allowing depreciation in assets, the full cost of which was already allowed as application of income in earlier years, even though allowing the same could lead to a situation where amount of depreciation would exceed the purchase value of the assets, was no longer res integra in view of the decision of Supreme Court in CIT v. Rajasthan & Gujarati Charitable Foundation Poona ((2018) 89 Taxman.com 127 (SC) : 2017 TaxPub(DT) 5384 (SC)) and the issue in this appeal was decided against the Revenue, the Supreme Court dismissed the SLP. Held: The Supreme Court dismissed the SLP.
REFERRED :
FAVOUR : SLP dismissed.
 SUBSCRIBE FOR FULL CONTENT
|