OCEAN SPARKLE LTD., HYD,HYDERABAD vs. DCIT, CIRCLE-16(3), HYDERABAD, HYDERABAD
In the result, both the appeals for AY 2011-12 and 2012-
ITA 440/HYD/2016[2012-13]Status: DisposedITAT Hyderabad08 Jun 2018AY 2012-13
Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahman
For Appellant: Shri T.S. AjaiFor Respondent: Smt. U. Minichandran
Section 115Section 115JSection 115VSection 143(2)Section 143(3)Section 147Section 148Section 2Section 45Section 50
section 115V namely tonnage division and non tonnage division.
The books are maintained separately for both the divisions. During this year, the assessee disposed of ships which falls in the tonnage division.
Assessee by following company law provisions and depreciation
