S. 32 : Depreciation-Firm succeeded by company-Intangible assets-Successor assessee-company was entitled to claim depreciation on actual cost incurred by it with reference to such intangible assets. [S. 35(2(AB), 47(xiii)]
S. 32 : Depreciation-Firm succeeded by company-Intangible assets-Successor assessee-company was entitled to claim depreciation on actual cost incurred by it with reference to such intangible assets. [S. 35(2(AB), 47(xiii)]
S. 32 : Depreciation-Increased cost of plant and machinery-Foreign Exchange rate fluctuations-Allowable.
S. 12AA : Procedure for registration-Trust or institution-Cancellation of registration retrospectively-Making donation outside India-Cancellation of registration was held to be not valid-Order of Tribunal is affirmed. [S. 11, 12A]
S. 11 : Property held for charitable purposes-Expenses incurred earlier years-Adjusted to income of subsequent year-Income to be determined on the basis of commercial principle-To be considered as application of income. [S. 10(34), 11(1)(a), 11(1)(d)]
S. 11 : Property held for charitable purposes-Charitable objects-Membership and connectivity charges incidental to main object-Entitle to exemption. [S. 2(15), 12A]
S. 4 : Charge of income-tax-Interest from short term deposits (STDs)-Open letter of Credit for procuring Plant and Machineries-Capital receipts-Reduced from cost of capital assets. [S. 28(1), 56]
S. 147 : Reassessment –With in four years-Change of opinion – Payment to related parties – Incentives to senior employees – Difference in VAT return and Turnover as per profit and loss account -Reconciliation – Questions asked in the course of original assessment proceedings – No discussion in the assessment order – Reassessment notice was quashed. [ S. 40A(2)(b) , 148 , Art , 226 ]
S. 88 : Tax arrear-Amount payable-Adjustment of refund was made as per request of the assessee-Not disclosed the truth and suppressed the communication-Writ petition was dismissed. [S. 245, Art. 226]
S. 184 : Charge of tax and surcharge-Payment of tax-Credit for advance tax-Credit for advance tax must be given-Directed the respondents to issue certificate as required by Rule 4(5). [S. 183, 185 IT ACT, S. 139, 199, 210, 219, Art. 226]
S. 9(c) : Act not to apply in certain cases-Disqualification of persons under prosecution-Named in charge sheet and first information report-Denial of benefit is held too be valid. [Indian Penal Code, 1860, S 120B, 420, Prevention of Corruption Act, 1988, S. 131(1)(d), 132(2), Art. 226]