basis of the rule laid down by the Supreme Court in McDowell & Co. Ltd. v. CTO (1985) 154 ITR 148 (SC) the assessee should ... attracting the rule laid down by the Supreme Court in McDowell & Co. Ltd. v. CTO (1985) 154 TO 148 (SC) and consequently, were they
colorable device, the decision of Honble Supreme Court in the case of Mcdowell & Co. Ltd. was not applicable. The learned CIT(Appeals) held that ... scrutiny of the Full Bench of Supreme Court in the case of Mcdowell & Co. Ltd. v. CTO, 154 ITR 148 (SC), which was thereafter
decision of Hon'ble Supreme Court in the case of Mcdowell & Co. Ltd. was not applicable. The learned CIT(Appeals) held that ... scrutiny of the Full Bench of Supreme Court in the case of Mcdowell & Co. Ltd. v. CTO, 154 ITR 148 (SC), which was thereafter
applying the ratio of the Supreme Court decision in the case of McDowell ... owner of the boiler. Applying the ratio in the case of McDowell (supra), depreciation of Rs. 1,65,000 was disallowed.
5. CIT(A) confirmed
basis of the rule laid down by the Supreme Court in McDowell (164 ITR 148) (SC) the assessee should not be allowed depreciation ... attracting the rule laid down by the Supreme Court in McDowell's case (154 ITR 148) and consequently, were they right in disallowing
ratio of the judgment of the Supreme Court in the case of McDowell& Co. Ltd v. CTO (1984) 154 ITR 148 would apply ... opinions the assessees were cautioned that the judgment in the case of McDowell & Co. Ltd. v. CTO could apply and the transaction
Apex Court rendered in the case of McDowell & Co. Ltd. v. CTO (1985) 154 ITR 148 (SC). The assessing officer also invoked Explanation ... lakhs. Regarding invoking of the judgment in the case of McDowell & Co. Ltd. (supra), it was submitted that in the judgment
were not genuine and the ratio of the decision in case of McDowell & Co.
Ltd. (supra) is applicable. We find that the decision ... sale of lease back transaction were sham in the light of the McDowell & Co.
Ltd.';s case (supra). The CIT(A) upheld
Supreme Court in the now well known and famous case of McDowell and Co. Ltd. [1985] 154 ITR 148. He further held that SIAL ... Associated Rubber Industry Ltd. [1986] 157 ITR 77 (SC). Of course, McDowell's case [1985] 154 ITR 148 (SC), has been strongly relied upon
whether there has been a departure from the ratio decedendi in
McDowell & Co. Ltd. v. CTO [1985] 154 ITR 148 (SC) in the case ... address ourselves
to that issue. The judgment in McDowell & Co.'s case (supra) was of a Constitution
Bench. The majority judgment insofar
