2018 (11) TMI 1343

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....RAN THOMAS GEORGE, SRI. ISAAC THOMAS, SRI. P. G. CHANDAPILLAI ABRAHAM AND SRI. V. ABRAHAM MARKOS JUDGMENT Vinod Chandran, J. The above Appeals were rejected following the judgment of the Honourable Supreme Court in Lissy Medical Institution v. Commissioner of Income Tax [(2012) 348 ITR 344 (Ker)] - Civil Appeal No.5091/2013. The learned Senior Counsel appearing for the assessee, however, brin....

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....poses. A claim of depreciation thereafter would not sustain going by the cited decision. The decision challenged before the Hon'ble Supreme Court in Civil Appeal No. 1591/2013 was affirmed. 3. On the very next day, the very same Bench considered a similar issue arising from a judgment of the High Court of Bombay and many other High Courts. The Decision of the Bombay High Court as also the dec....

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....e Act vide Finance (No.2) Act of 2014 which became effective from the assessment year 2015- 2016. The Delhi High Court has taken the view and rightly so, that the said amendment is prospective in nature." 4. The aforesaid decision of the Hon'ble Supreme Court is dated 13.12,2017. It is to be noticed that in Lissy Medical Institution's case the learned Judges of the Hon'ble Supreme Co....