The Cit-9 v. M/S.phoenix Industries P.ltd
High Court
03 Mar 2008 In favour of: Revenue
Forum / Bench
High Court · newos
Parties
The Cit-9 v. M/S.phoenix Industries P.ltd
Date of order
03 Mar 2008
Assessment year(s)
—
Outcome
Allowed
The order — as passed by the High Court
Case summary
In The Cit-9 v. M/S.phoenix Industries P.ltd, the High Court (2008) allowed the appeal. The decision went in favour of the Revenue.
Issue: Though in the memo of appeal the tax incidence is shown as Rs.4,28,446/-, learned Counsel for the assessee/respondent points out that only issue was whether depreciation should be allowed at Rs.40,52,853/- instead of Rs.32,20,166/- and considering the tax payable for the relevant assessment years 20...
Summary auto-generated from the order below — read the full judgment for the complete reasoning.
KJ IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
INCOME TAX APPEAL (L) NO.2976 OF 2007
The CIT-9 ..Appellant
Versus
M/s.Phoenix Industries P.Ltd., ..Respondent
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Mr.P.S.Sahadevan for the appellant.
Mr.B.V.Jhaveri for the respondent.
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Coram : F.I.Rebello & R.S.Mohite,JJ
Coram : F.I.Rebello & R.S.Mohite,JJ
Coram : F.I.Rebello & R.S.Mohite,JJ
Date : 3rd March 2008.
PC
1. Though in the memo of appeal the tax incidence
is shown as Rs.4,28,446/-, learned Counsel for the
assessee/respondent points out that only issue was
whether depreciation should be allowed at
Rs.40,52,853/- instead of Rs.32,20,166/- and
considering the tax payable for the relevant
assessment years 2001-2002, considering both the tax
and surcharge, it works to less than Rs.4.00 lakhs.
2. Considering the above, learned Counsel seeks
leave to withdraw the appeal. Appeal dismissed as
withdrawn. Refund of court fees as per rules.
Certified copy expedited.
3. The questions of law, if any, is kept open for
consideration in appropriate case.
(R.S.Mohite,J) (F.I.Rebello,J)
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