2019 (8) TMI 1620 - HC - Income Tax

Depreciation on Plant and machinery transferred from the holding company to subsidiary company - Interpretation of provisions of explanation 6 to sub section (1) of section 43 of the Act while granting relief to the assessee for the relevant assessment year - HELD THAT - It is an agreed position between the parties that the issue raised by the Revenue would stand covered against it by the decision of this Court in CIT v/s. M/s. Essar Oil Ltd. 2011 (7) TMI 1371 - BOMBAY HIGH COURT . No substantial question of law.

Summary

The High Court of Bombay dismissed an appeal challenging the order of the Income Tax Appellate Tribunal for Assessment Year 2008-09. The court found that the issue raised by the Revenue had already been decided in a previous case, leading to the dismissal of the appeal.