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Bench: HONOURABLE THE CHIEF JUSTICE,HONOURABLE MR. JUSTICE SOUMITRA SAIKIA
exempted from the application of income tax not being revenue receipts. The AO ruled otherwise and held that the income under these heads was in the nature of revenue receipts and was liable to tax. The assessee challenged the assessment orders to the CIT which ruled in favour of the assessee and the Revenue’s appeals to the ITAT failed