Itta/95/2003 Of Commissioner Of Income Tax-2 Hyderabad v. M/S Lata Engg. Co. [P] Ltd. Hyderabad
High Court
09 Sep 2014 In favour of: Unclear
Forum / Bench
High Court · taphc
Parties
Itta/95/2003 Of Commissioner Of Income Tax-2 Hyderabad v. M/S Lata Engg. Co. [P] Ltd. Hyderabad
Date of order
09 Sep 2014
Assessment year(s)
—
Outcome
Other
Case summary
In Itta/95/2003 Of Commissioner Of Income Tax-2 Hyderabad v. M/S Lata Engg. Co. [P] Ltd. Hyderabad, the High Court (2014) decided the matter.
Decision: Following the same, we dismiss the appeal.
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
The order — as passed by the High Court
THE HON’BLE SRI JUSTICE L.NARASIMHA REDDY
AND
THE HON’BLE SRI JUSTICE CHALLA KODANDA RAM
I.T.T.A.No.95 of 2003
JUDGMENT:(Per the Hon’ble Sri Justice L.Narasimha Reddy)
The question that arises for consideration in this appeal is asto whether the view taken by the Hyderabad Bench ‘B’ of the IncomeTax Appellate Tribunal that the Gas Cylinders, whose value is lessthan Rs.5,000/-, qualify for 100% depreciation, is correct.
This very question was dealt with by us in I.T.T.A.Nos.8 and44 of 2002. Through our order, dated 23.07.2014, we held that theGas Cylinders of the value of Rs.5,000/-, at the relevant point of time,qualify for 100% depreciation.
Following the same, we dismiss the appeal. There shall be noorder as to costs.
The miscellaneous petition filed in this appeal shall alsostand disposed of.
____________________
L.NARASIMHA REDDY, J.
_____________________
CHALLA KODANDA RAM, J.
Date:09.09.2014
GJ
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