Supreme Court - Daily Orders
Peerless General Finance And ... vs Commissioner Of Income Tax Kalkata -I on 8 December, 2015
Bench: Ranjan Gogoi, N.V. Ramana
ITEM NO.6 COURT NO.7 SECTION IIIA
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
PETITION(S) FOR SPECIAL LEAVE TO APPEAL (C) NO(S). 34124/2014
(ARISING OUT OF IMPUGNED FINAL JUDGMENT AND ORDER DATED 21/07/2014
IN ITA NO. 14/2005 PASSED BY THE HIGH COURT OF CALCUTTA)
PEERLESS GENERAL FINANCE AND INVESTMENT CO. LTD. PETITIONER(S)
VERSUS
COMMISSIONER OF INCOME TAX KALKATA -I RESPONDENT(S)
(FOR FINAL DISPOSAL)
Date : 08/12/2015 This petition was called on for hearing today.
CORAM :
HON'BLE MR. JUSTICE RANJAN GOGOI
HON'BLE MR. JUSTICE N.V. RAMANA
For Petitioner(s) Mr. S. Ganesh, Sr. Adv.
Mr. S. Sukumaran, Adv.
Mr. Anand Sukumar, Adv.
Mr. Bhupesh Kumar Pathak, Adv.
Ms. Meera Mathur,Adv.
For Respondent(s) Mr. Arijit Prasad, Adv.
` Ms. Mukti Chowdhary, Adv.
Mrs. Anil Katiyar, Adv.
UPON hearing the counsel the Court made the following
O R D E R
Heard the learned counsels for the parties and perused the relevant material.
The Special Leave Petition is dismissed subject to the observation that the unabsorbed depreciation as on 1 st April, 1997 can be set off against the income from any Head Signature Not Verified for the immediate Assessment Year following 1st April, 1997 Digitally signed by Vinod Lakhina Date: 2015.12.08 and thereafter if there still is any unabsorbed 16:51:32 IST Reason:
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depreciation the same can be set off only against the Business Income for a period of eight (08) Assessment years.
The Special Leave Petition is disposed of in the above terms.
[VINOD LAKHINA] [ASHA SONI]
COURT MASTER COURT MASTER
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