S. 80IA :Industrial undertakings – Infrastructure development – Sewage system-Contract with local bodies for development of infrastructure facility -Entitle to deduction [ S.80IA(4) ]
S. 80IA :Industrial undertakings – Infrastructure development – Sewage system-Contract with local bodies for development of infrastructure facility -Entitle to deduction [ S.80IA(4) ]
S. 44BB : Mineral oils – Computation – Non-resident – Royalty and fees for technical services – Matter remanded to the file of Commissioner (Appeals)- Interpretation of taxing statutes — Strict interpretation.- when there are two provisions in an enactment which cannot be reconciled with each other, the doctrine of harmonious construction should be applied and attempt should be to interpret the provisions, if possible, giving effect to both- DTAA -India -Australia [ S.44DA , 115A, Art , 12 ]
S.44AB: Presumptive taxation — Construction Business — Appellate Tribunal remanding the matter-The Assessing officer not following the direction of the Appellate Tribunal – Directed the Assessing Officer to follow the direction- Availability of alternative remedy is not bar to entertaining the writ petition [ S.44AD ,144, 251(1),Art , 226 ]
S. 43A : Rate of exchange – Foreign currency – Business loss- Rate of Exchange of foreign currency – loss on settlement of forward contract – Held to be allowable .
S. 40A(2): Expenses or payments not deductible – Excessive or unreasonable – Discount and rate difference- Deletion is held to be justified .
S.37(1): Business expenditure — Capital or revenue-Expenditure on replacing machinery destroyed by fire — Expenditure on dies and tools — Allowable as revenue expenditure.
S.37(1): Business expenditure — Legal expenses —Defend its Directors and shareholders in individual capacities- Disallowance is held to be proper . [ S.260A ]
S.37(1): Business expenditure -Capital or revenue -Acquisition of non-transferable sub-licence – Allowable as revenue expenditure.
S.37(1): Business expenditure — Capital or revenue -Acquisition of technical know-how -Depreciation- Allowable as revenue expenditure . [ S.32(1) ]
S.32: Depreciation —Uninterrupted power supply system for Computers —Entitled to depreciation at 60 Per Cent.