2018 (11) TMI 1556

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.... AND SRI. JOSE JOSEPH, STANDING COUNSEL FOR GOI (TAXES) For The Respondent : ADVS. SRI. JOSEPH MARKOSE (SR. ) SRI. ABRAHAM JOSEPH MARKOS SRI. HARAN THOMAS GEORGE SRI. ISAAC THOMAS AND SRI. V. ABRAHAM MARKOS ORDER Vinod Chandran, J: The reference arises from the order of the Tribunal for the assessment year 1989-90. The following are the questions of law raised in the reference: ....

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.... reserve account for adjusting the depreciation should be allowed as deduction while computing the book profits? 4. Whether on the facts and in the circumstances of the case and in law:- i) should not the dividend income amounting to Rs. 1,97,89,440/- be excluded in computing the profits of eligible business under sub-sec.(3) of sec.32AB of the I.T.Act? ii) the entire bu....

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....ion of this Court, in favour of the assessee, in C.I.T. v. Appollo Tyres Ltd. [(1999) 237 ITR 706 (Ker.)], as confirmed by the Hon'ble Supreme Court by the decision reported in Apollo Tyres Ltd. v. C.I.T. [(2002) 255 ITR 273 (SC)]. Question No.2 is covered in favour of the assessee by the decision of the Hon'ble Supreme Court in C.I.T. v. Bhari Information Tech. Sys.P.Ltd. [(2012) 340 ITR ....