180 results for “depreciation”+ Section 10(15)clear
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In the result, the appeal of the assessee is partly allowed
Bench: Shri Chandra Mohan Garg & Shri O.P.Meena
depreciation are available on record. Further the assessee has earned dividend income of Rs. 1.24 crore which is claimed exempt income under section 10(34) but no disallowance under section 14A of the Act, were made even though the assessee has debited interest expenditure of Rs. 3.61 crores. Thus, there was prima-facie reason for reopening of assessment. Therefore