Supreme Court of India
Commissioner of Income Tax, Rajkot v. M/s Gujarat Siddhi Cement Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the reasons discussed above, we are of the opinion _;.- that the language of the provision is perfectly clear.
Judgment, page 8
From the headnote
Income Tax Act, 1961; Ss. 32, 33, 41(1)(a) and Explana- c tion 2, S.32A as substituted by Finance Act, 2002 and S.43( ) as substituted by Finance Act, 1967 and amended by Direct_ - Tax Law Amendment Act, 1987: Deduction - Increase in cost of plant and machinery due to fluctuation- in foreign exchange rate - Claim of deduction for the assessment year 1993-94 -Held: In case, assessee desire to claim extra benefit for the extra amount paid in lieu of increase of cost of the plant and machinery, the same has ~ to be taxed in the year in which liability was reduced - How- ever, in the instant
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