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1 - 10 of 16 (0.34 seconds)Habib Hussein vs Commissioner Of Income-Tax, Bombay ... on 8 August, 1962
had to consider the identical question whether
interest paid on borrowed capital which is used for the acquisition of the machinery can be included in "actual cost" to the assessee under Section 10(2)(vi) of the 1922 Act. The English decisions on the point, the Bombay decision in Habib Hussein's case and the Calcutta decision in Standard Vacuum Refining Co.'s case, were all noticed.
Commissioner Of Income-Tax (Central) vs Standard Vacuum Refining Co. Of India ... on 18 August, 1965
had to consider the identical question whether
interest paid on borrowed capital which is used for the acquisition of the machinery can be included in "actual cost" to the assessee under Section 10(2)(vi) of the 1922 Act. The English decisions on the point, the Bombay decision in Habib Hussein's case and the Calcutta decision in Standard Vacuum Refining Co.'s case, were all noticed.
Commissioner Of Income-Tax vs Challapalli Sugars Ltd. on 5 September, 1969
No reference is to be found made to the Andhra Pradesh High Court's decision in the Challapalli Sugar's case.
Commissioner Of Income-Tax vs Fort Gloster Industries Ltd. on 4 June, 1969
In Commissioner of Income-tax v. Fort Gloster Industries Ltd., [1971] 79 ITR 48 (Cal) the Calcutta High Court again considered the position, and followed its previous ruling in the Standard Vacuum Refining Co.'s case 1.
The Commissioner Of Income-Tax, Delhi vs Mithlesh Kumari on 5 February, 1973
The Delhi High Court in Commissioner of Income-tax v. Mithlesh Kumari, [1973] 92 ITR 9 (Delhi) has also taken the view that interest on borrowed capital is part of the actual cost to the assessee for the purpose of claiming development rebate. It is unfortunate that the Andhra Pradesh High. Court decision was not referred to either by the Calcutta High Court in its later judgment or by the Delhi High Court.
Commissioner Of Income-Tax vs L.G. Balakrishnan And Bros. (P.) Ltd. on 15 September, 1973
The Madras High Court in Commissioner of Income-tax v. L. G. Balakrishnan and Bros. (P.) Ltd., [1974] 95 ITR 284 (Mad) noticed the Calcutta and also the Andhra Pradesh decisions, and preferred to follow the Calcutta view.