- Thursday, October 8, 2009, 2:33
- Income Tax Case Laws
Explanation – 5 to section 32 is clarificatory in nature and hence it will have retrospective operation. Accordingly, the depreciation cannot be taken as `notionally allowed', but only as `actually allowed'.
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- Sunday, April 5, 2009, 3:18
- Income Tax Case Laws
CASE LAW DETAILS Decided by:. ITAT, MUMBAI BENCH `C’ MUMBAI In The case of: ITO v. Pushya Properties (P.) Ltd. Appeal No. : ITA No. 2906/m/08 Decided on: March 6, 2009 SUMMARY OF CASE LAW Section 23(1)(b) gives limited power to the Assessing Officer to examine whether rent received is more than the reasonable rent [...]
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- Tuesday, December 18, 2007, 10:00
- Income Tax
THE main point raised in this appeal is against the reduction in the claim of deduction u/s. 80HHC. The facts are that the return of income was filed claiming deduction u/s. 80HHC at Rs. 7,38,416/-. During the course of assessment proceedings the Assessing Officer noted that there was a net profit of Rs. 14,54,272/- on total export turnover of Rs. 2,48,26,964/ -. The net profit included Duty draw back turnover of Rs. 21,10,298/- and DEPB of Rs. 6,63,942/-. The Assessing ..
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