2018 (7) TMI 1244 - SCH - Income Tax

Sums received upon encashment of bank guarantees - additions were unjustified because the income could not be approved as the dispute is pending litigation and final adjudication before the Court Depreciation of claim in respect of assets not registered in the name of the assessee - assessee had paid all amounts to the transferor and had obtained possession Exemption under Section 80IA - exemption claimed for the Inland Container Depot (ICD), Container Freight Station (CFS) and rolling stock - Amortized depreciation Depreciation of land - not considered the applicability of Section 32(1)(ii) Held that - SLP dismissed.

Summary

The Supreme Court of India dismissed the special leave petition after condoning the delay. The pending application was disposed of. No representation was made by the respondent. (2018 (7) TMI 1244 - SC)