- Thursday, November 12, 2009, 3:06
- Income Tax Case Laws
- 76 views
Everything revolves around clause (iii) of section 32(1). The said clause provides that in case any of the assets specified therein on which depreciation is claimed and allowed under clause (i), is sold, discarded, demolished, and if the monies payable fall short of the w.d.v, such shortfall will be allowed
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- Thursday, July 30, 2009, 2:51
- Income Tax
- 9 views
Stock broking firms on Monday argued before the Bombay High Court that they are entitled to claim depreciation costs on the value of their Bombay Stock Exchange (BSE) membership cards while calculating their tax liabilities. The Income Tax department has moved the court against more than 100 brokers saying that depreciation cannot be charged on [...]
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- Thursday, March 5, 2009, 2:16
- Income Tax
- 110 views
The Income-Tax Department has challenged the income Tax Appellate Tribunal (ITAT) decision in the Bombay High Court that allowed over 100 stock broking firms entitlement to depreciation claims on the cost of their Bombay Stock Exchange membership cards. The appeals against various stock brokers have been pending over the past three years and are likely [...]
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