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From the Courts »
 BSES Rajdhani Power Ltd. Vs. Principal Commissioner Of Income Tax, Delhi-2
 Paradigm Geophysical Pvt. Ltd. Vs. Commissioner Of Income Tax (International Taxation)-3, New Delhi
 M/s Televista Electronics Ltd. Vs. Dy. Commissioner Of Income Tax
 The Commissioner Of Income Tax-Ii Vs. Mitsubishi Corporation India Pvt. Ltd
  SRD Nutrients Private Limited vs. CCE (Supreme Court)
 Samvardhana Motherson International Ltd. (Formerly Known As(M/s Samvardhana Motherson Finance Ltd.)a Vs. Assitant Commissioner Of Income Tax, Circle 22(1) & Anr.
 Pr. Commissioner Of Income Tax (Central)-2 Vs. M/s Frontline Business Solutions Pvt. Ltd. & Ors.
 Ram Kumar Vs. Income Tax Officer, Ward-64(2) & Anr.
 Principal Commissioner Of Income Tax-8 Vs. St Microelectronics Private Ltd.
  The Chamber Of Tax Consultants vs. UOI (Delhi High Court)
 M/s Ess Distribution (Mauritius) S.N.C.Et Compagnie Vs. Assistant Commissioner Of Income Tax, Circle -1(2)(2) International Taxation, New Delhi

SC: CA firm cannot get tax deduction for depreciation of building
December, 03rd 2007
The Supreme Court has ruled that a firm of chartered accountants could not claim income tax deduction for depreciation of the buildings providing residential accommodation for its employees as they are 'professionals' and not doing business. Section 32 of the Income Tax deals with depreciation of buildings used for business.
 
In this case, GK Choksi & Co, a firm in Ahmedabad claimed deduction claiming that it was doing business. But the tax authorities stated that they were professionals.
 
The Gujarat High Court accepted the claim of the revenue authorities. The Supreme Court dismissed the appeal of the firm stating that Parliament had restricted the benefit only to assessees doing business.
 
 
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