Principal Commissioner Of Income Tax vs Sesa Resources Ltd.

Authority: High Court Date: 2017-08-16 Section: 143(2), 32(iia), 28, 37 Acts: Income Tax Act 1961, Section 143(2), Section 32(iia), Section 28, Section 37 Result: Assessee Citation: (2017) 99 CCH 0203 MumHC (2018) 404 ITR 0707 (Bom) : (2017) 250 TAXMAN 0182 (Bombay) Justices: G.S. PATEL & NUTAN D. SARDESSAI, JJ. Appeal No: TAX APPEAL NO. 57 OF 2016
Whether UPS qualifies for 60% depreciation rate as computers --- Held Yes; Whether interest on loans advanced to sister concerns without interest is allowable business expenditure --- Held Yes; Whether repairs to old vessels constitute 'current repairs' --- Held Yes; Whether mining qualifies for additional depreciation under Section 32(iia) --- Held Yes

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