DCIT, UDUPI vs. M/S MANIPAL ACADEMY OF HIGHER EDUCATION, MANIPAL

In the result, the appeal of the revenue is dismissed

Bench: Shri Vijay Pal Rao & Shri Jason P Boaz

68, the Calcutta High Court, while construing the expression "expenditure incurred" in s. 44A of the Act, observed : "depreciation claimed shall include the expenditure incurred." 16. There are only two recognised methods of accounting : (i) cash basis, and (ii) merecantile basis. Under the cash basis only cash transactions are recorded. It is only cash receipts and cash payments which find

DEPUTY DIRECTOR OF INCOME TAX (EXEMPTION), BANGALORE vs. OHIO UNIVERSITY CHRIST COLLEGE ACADEMY FOR MANAGEMENT EDUCATION, BANGALORE

In the result, Revenue’s appeals for both Assessment Years 2008-09 and 2009-10 are dismissed

68 (Cal), the Calcutta High Court, while construing the expression "expenditure" incurred in s. 44A of the Act, observed: "Depreciation claimed shall include the expenditure incurred." 10. There are only two recognised methods of accounting : (i) cash basis, (ii) mercantile basis. Under the cash basis only cash transactions are recorded. It is only cash receipts and cash payments which find