Gujarat High Court
Gujarat Narmada Vally Fertilisers Ltd. ... vs Deputy Commissioner Of Income Tax ... on 27 February, 2007
TAXAP/1113/2006 1/2 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
TAX APPEAL No. 1113 of 2006
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GUJARAT NARMADA VALLY FERTILISERS LTD. Appellant(s)
Versus
DEPUTY COMMISSIONER OF INCOME TAX Opponent(s)
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Appearance :
MR SN SOPARKAR SR.ADVOCATE WITH MRS SWATI SOPARKAR for
Appellant(s) : 1,
None for Opponent(s) : 1,
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CORAM : HONOURABLE THE CHIEF JUSTICE Y.R.MEENA
and
HONOURABLE MR.JUSTICE A.S.DAVE
Date : 27/02/2007
ORAL ORDER
Heard Shri S.N.Soparkar, learned Senior Advocate for the appellant.
The appeal is admitted in terms of the following substantial questions of law.
"(1) Whether in the facts and circumstances of the case the Income Tax Appellant Tribunal was right in law in holding that investment allowance granted in A.Y. 198384 and adjusted in A.Y. 199091 can be withdrawn in the year under consideration merely on cessation of some liabilities which is said to be taxable u/S 41(1) of the Act ?
(2) Whether, in the facts and circumstances of the case the Income Tax Appellant Tribunal was right in law in holding that depreciation granted earlier can be withdrawn and taxed as income u/s 41(1) of the Act ?
TAXAP/1113/2006 2/2 ORDER (3) Whether, in the facts and circumstances of the case the Income Tax Appellant Tribunal was right in law in enhancing the income of the appellant ?"
Issue notice to the respondent. Paper book be filed within three months. List the appeal for final hearing after three months.
( Y.R.MEENA, C.J. ) ( A. S. DAVE, J. ) kailash