S. 36(1)(va) : Any sum received from employees-Employee’s contribution held in trust -Failure to pay within due date under respective Acts-Not allowable as deduction. [S. 2(24)(x),43B,139(1)]
S. 36(1)(va) : Any sum received from employees-Employee’s contribution held in trust -Failure to pay within due date under respective Acts-Not allowable as deduction. [S. 2(24)(x),43B,139(1)]
S. 36(1)(iii) : Interest on borrowed capital-Business expenditure-Interest payment to legal heirs of dead partner-Deducted tax at source-Cannot be disallowed on the ground of passing of entry-Matter remanded. [S. 37(1), 40 (b) (iv), 194A]
S. 35: Scientific research expenditure-Weighted deduction-Recognition of facility different from approval-No Approval-Not entitled to exemption. [S. 35(2AB)]
S. 35 : Expenditure on scientific research-Weighted Deduction-Application for approval of In-House Research and development facility was filed before end of financial year-Held period mentioned in Form 3CM is not relevant-Approval would relate back to beginning of financial year in which the application is filed.[S. 35(2AB)]
S. 32 : Depreciation-Additional depreciation permissible on new plant or machinery or plant acquired or installed: [S. 32(1)(iia)]
S. 32 : Depreciation-Generation of power-Depreciation on windmill allowable-Own funds-No disallowance can be made.[S. 14A,R.8D].
S. 32 : Depreciation on property held for charitable purposes-Depreciation is to be allowed at the rate prescribed for ‘plant and machinery’. [S. 11]
S. 32 : Depreciation-Initial assessment year-If depreciation is allowed in the initial year, the claim cannot be disturbed in the subsequent years.
S. 32 : Depreciation-Income wrongly shown under the head income from other sources instead of business income-Matter remanded to the Assessing Officer. [S. 10(23C) (iii)(ad), 28(i), 56]
S. 32: Depreciation —Oil drilling rigs-Entitled to a higher rate of depreciation. [R. 5]