Peerless General Finance and Investment Co. Ltd. v. Commissioner of Income-tax, Kolkata-I
[Citation -2015-LL-1208-5]

Citation 2015-LL-1208-5
Appellant Name Peerless General Finance and Investment Co. Ltd.
Respondent Name Commissioner of Income-tax, Kolkata-I
Relevant Act Income-tax
Date of Order 08/12/2015
Judgment View Judgment
Keyword Tags unabsorbed depreciation

ITEM NO.6 COURT NO.7 SECTION IIIA SUPREME COURT OF INDIA RECORD OF PROCEEDINGS PETITION(S) FOR SPECIAL LEAVE TO APPEAL (C) NO(S). 34124/2014 (ARISING OUT OF IMPUGNED FINAL JUDGMENT AND ORDER DATED 21/07/2014 IN ITA NO. 14/2005 PASSED BY HIGH COURT OF CALCUTTA) PEERLESS GENERAL FINANCE AND INVESTMENT CO. LTD. PETITIONER(S) VERSUS COMMISSIONER OF INCOME TAX KALKATA -I RESPONDENT(S) (FOR FINAL DISPOSAL) Date : 08/12/2015 This petition was called on for hearing today. CORAM : HON'BLE MR. JUSTICE RANJAN GOGOI HON'BLE MR. JUSTICE N.V. RAMANA For Petitioner(s) Mr. S. Ganesh, Sr. Adv. Mr. S. Sukumaran, Adv. Mr. Anand Sukumar, Adv. Mr. Bhupesh Kumar Pathak, Adv. Ms. Meera Mathur,Adv. For Respondent(s) Mr. Arijit Prasad, Adv. ` Ms. Mukti Chowdhary, Adv. Mrs. Anil Katiyar, Adv. UPON hearing counsel Court made following O R D E R Heard learned counsels for parties and perused relevant material. Special Leave Petition is dismissed subject to observation that unabsorbed depreciation as on 1 st April, 1997 can be set off against income from any Head Signature Not Verified for immediate Assessment Year following 1st April, 1997 Digitally signed by Vinod Lakhina Date: 2015.12.08 and thereafter if there still is any unabsorbed 16:51:32 IST Reason: Page No. 1 of 2 depreciation same can be set off only against Business Income for period of eight (08) Assessment years. Special Leave Petition is disposed of in above terms. [VINOD LAKHINA] [ASHA SONI] COURT MASTER COURT MASTER Page No. 2 of 2 Peerless General Finance and Investment Co. Ltd. v. Commissioner of Income-tax, Kolkata-I
Report Error