ASCENTECH ENGINEERING SOLUTIONS PRIVATE LIMITED,HYDERABAD vs. DCIT, CIRCLE 1(1), HYDERABAD

In the result, appeal of the Assessee is allowed

depreciation;\n(iv) any amount representing provision for taxation, other than amount\nof tax paid as deduction or collection at source or as advance tax\npayment as reduced by the amount of tax claimed as refund under\nthe Income-tax Act, to the extent of the excess over the tax payable\nwith reference to the book profits in accordance with

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

50B(3) of the Act\nalong with Explanation (2). He submitted that in the\nnet worth computed by the assessee and in the AO,\nthere is only one difference. It was submitted that the\nassessee following the Explanation-2 below section\n50B(3) of the Act has adopted written down value of\nthe block asset in case of the depreciable

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

50B(3) of the Act\nalong with Explanation (2). He submitted that in the\nnet worth computed by the assessee and in the AO,\nthere is only one difference. It was submitted that the\nassessee following the Explanation-2 below section\n50B(3) of the Act has adopted written down value of\nthe block asset in case of the depreciable

DIABETOMICS MEDICAL PRIVATE LIMITED,HYDERABAD vs. ACIT, CIRCLE-8(1), HYDERABAD

In the result, all the three appeals of the Assessee\nare partly allowed

50B(3) of the Act\nalong with Explanation (2). He submitted that in the\nnet worth computed by the assessee and in the AO,\nthere is only one difference. It was submitted that the\nassessee following the Explanation-2 below section\n50B(3) of the Act has adopted written down value of\nthe block asset in case of the depreciable