S. 32 : Depreciation-Revised return-Withdrawing claim to depreciation-Assessing Officer granting depreciation under amended provisions-Held to be not permissible. [S. 32(1), Expln.5]
S. 32 : Depreciation-Revised return-Withdrawing claim to depreciation-Assessing Officer granting depreciation under amended provisions-Held to be not permissible. [S. 32(1), Expln.5]
S. 28(i) : Business loss-Shortage of coal-Deletion of addition is affirmed. [S. 260A]
S. 28(i) : Business loss-Unabsorbed depreciation-Carry forward and set off-Amalgamation of companies-Relates back to appointed date-Business loss and unabsorbed depreciation of transferor company allowable. [S. 32, 72]
S. 28(i) : Business income-Capital gains-Full value of consideration-Stamp valuation-Capital asset-Business income or short-term capital gains-Sale of Development Rights in property-Stock in trade-Sale consideration received by builder was held to be assessable as business income-Provisions of S. 50C was held to be not applicable-Recorded in the balance sheet-Matter remanded to Tribunal for consideration afresh on merits to consider whether transaction a sale of capital assets or of stock-in-trade. [S. 2(14), 45,50C, 145, Art. 136]
S. 11 : Property held for charitable purposes-Object of general public utility-Urban Development Authority-Entitled to exemption. [S. 2(15), 11(1)(a), 11(2), 12, 260A]
S. 11 : Property held for charitable purposes-Registration-Does not ipso facto entitle to exemption-Other conditions to be satisfied-Matter remanded to the Assessing Officer. [S. 12, 12A, 12AA, 13]
S. 11 : Property held for charitable purposes-Object of aiding development of industries-Statutory board set up by State-Entitled to exemption-SLP of revenue dismissed.[S. 2(15), Art. 136]
S. 11 : Property held for charitable purposes-Transfer of fund to infrastructure development fund-Order of High Court affirmed-SLP of Revenue is dismissed. [S. 2(15), Art. 136]
S. 11 : Property held for charitable purposes-Object of general public utility-Accumulation of income-Urban Development Authority-Entitled to exemption. [S. 2(15), 11(1)(a), 11(2), 12]
S. 10A : Free trade zone-Provisions written back-Gains on foreign exchange fluctuation-Entitle to exemption-Turnover-Communication charges-SLP of Revenue is dismissed. [Art. 136]