2017 (9) TMI 1867 - HC - Income Tax

Depreciation to assets transferred upon amalgamation from the amalgamating company by the order of the BIFR - HELD THAT - Substantial question of law covered by our decision delivered in M/s. Ballarpur Industries Limited vrs. Commissioner of Income Tax 2017 (9) TMI 490 - BOMBAY HIGH COURT Disallowance of expenses in the nature of advisory fees - HELD THAT - Issue covered by the decision of Punjab State Industrial Development Corporation Ltd. Vs. CIT 1996 (12) TMI 6 - SUPREME COURT

Summary

The High Court of Bombay dismissed the appeal as the substantial questions of law were already covered by previous decisions. The appeal was related to disallowance of depreciation and share issue expenses for the Assessment Year 1992-93.