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
Apex Court of India in the case of McDowell and Co. Limited Vs.
day. Thus the assessee through intraday off market deals has only ... would
be impermissible. Justice Chinnappa Reddy in his concurring
opinion in Mcdowell (supra) had held that "in our view the
proper way to construe
further submitted that the principle laid down in the case of McDowell & Co. v. CTO is not applicable to the case of this company ... relying on the decision of the apex Court in the case of McDowell & Co. v. CTO (supra), made the abovementioned disallowance
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
opinion the decision of the Supreme Court in the case of McDowell & Co. Ltd. vs. CTO (1985) 154 ITR 148 (SC), squarely applies ... plain and bona fide commercial transaction and hence the decision in the McDowell's case (supra) does not apply-no tax evasion is proved
Mcdowell & Co. Ltd. vs Assistant Commissioner Of Income-Tax on 18 February, 1997
Equivalent citations: [1997]62ITD276(BANG)
ORDER
Ammini, JM
1. The appeal
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
McDowell & Co. Ltd. v. CTO (1985) 154 ITR 148 (SC)
so as to contend that :
"New Holland Tractors India (P) Ltd. has made ... such, he was of the view that the principles enunciated in McDowell & Co. Ltd. v. CTO (supra) which were affirmed in Union of India
