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2 results for “depreciation”+ Rectification u/s 154clear

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Section 1547 Section 80I5 Section 143(3)3 Section 37(1)2 Section 139(1)2 Deduction2 Depreciation2 Rectification u/s 1542

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- SHILLONG, SHILLONG vs. JOWAI CO-OP. URBAN BANK LIMITED, JOWAI

In the result, appeal of the revenue is partly allowed in terms of our above observation

ITA 30/GTY/2022[2015-16]Status: DisposedITAT Guwahati13 Jun 2023AY 2015-16

Bench: Shri Sanjay Garg & Shri Girish Agrawalassessment Year: 2015-16

For Appellant: Shri Sumit Das, FCAFor Respondent: Shri P. S. Thuingaleng, ACIT

Section 143(3)Section 154Section 36(1)(viia)Section 37(1)Section 40

depreciation on investments. In this respect, Ld AO noted that the provision was for unascertained liability and an investment is not business asset and therefore, disallowed the same u/s. 37(1) of the Act. 4.1. Subsequent to this rectification, another order was passed u/s. 154

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- SHILLONG, SHILLONG vs. JOWAI CO-OP. URBAN BANK LIMITED, JOWAI

DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE- SHILLONG, SHILLONG vs. JOWAI CO-OP. URBAN BANK LIMITED, JOWAI

SHIVAM PIPE INDUSTRIES,GUWAHATI vs. ITO WARD 2(2), GUWAHATI