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Documents citing Industrial Finance Corpn. Of India Ltd. vs Joint/Additional Commissioner Of ... on 24 February, 2006

Amreli Jilla Madhyasth Sahakari Bank ... vs The Dcit-Acit-2(1), Rajkot, Rajkot on 1 July, 2025

iii. Power Finance Corpn. Ltd. v. Joint Commissioner of Income Tax, Special Range-22 [2006] 10 SOT 190 (Delhi) "1. Section 36(1) (viii) of the Income-tax Act, 1961 Financial corporation, reserve created by -Assessment year 1997-98 - Whether amendment to section 36(1)(viii) by Finance Act, 1997. from 1-4-1998 for availing benefit under section 36(1)(viii), is not retrospective in operation and it shall - Held, yess Whether under pre-amended provision requirement for claiming deduction was creation of special reserve and 9 ITA No.548 /RJT/2024 (AY : 2014-15) Jasumatiben Lalitchandra Shah restriction against withdrawal of special reserve cannot be read into main clause
Income Tax Appellate Tribunal - Rajkot Cites 15 - Cited by 0 - Full Document

Microcare Computers (P) Ltd., ... vs Assessee on 21 May, 2014

"Since, in the instant case, it is only a financial lease, as discussed in para 4.10 & 4.11 above, relying on the ratio of the above decisions of the Hon'ble Supreme Court in Asea Brown Boveri Ltd. Vs. Industrial Finance Corporation of India (supra) and of Hon'ble ITAT Delhi Bench, in Industrial Finance Corporation of India Ltd. (supra) and of Hon'ble ITAT, Mumbai Bench, in J.M. Shares & Stock Brokers (supra), I hold that the assessee not being owner of those computer systems, supplied to BHEL under such lease, is not entitled to depreciation u/s 32 of the Act on such assets. Accordingly, the disallowance of the claim of depreciation for an amount of Rs. 2,45,99,386/- made by the AO in the assessment is justified. Thus, such disallowance made in the assessment, is upheld. Hence, this ground of appeal is rejected."
Income Tax Appellate Tribunal - Hyderabad Cites 12 - Cited by 1 - Full Document
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