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of <h1>Appeal Dismissed: Tax Depreciation & Share Expenses Disallowed for AY 1992-93</h1> <h3>M/s. Ballarpur Industries Ltd., Versus The Commissioner of Income Tax, Nagpur</h3> The High Court of Bombay dismissed the appeal related to disallowance of depreciation and share issue expenses for the Assessment Year 1992-93, as the ... 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] 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.
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