9 results for “depreciation”+ Disallowanceclear
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Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH
disallowed depreciation nvestment made in the garmen machinery so set up was not used he Assessing Officer, disallow was upheld
disallowance u/s 80IC was allowed. was right in law in accepting ning part of expenditure relating 1,93,15,643/-, Depreciation
The appeals stand disposed of
Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE HARNARESH SINGH GILL
disallowance of Rs.1,00,19,424/- made by the Assessing Officer in computing the book-profit u/s 115JB in respect of depreciation
Appeal is allowed
depreciation. This is c jurisdictional High Cour Court in the case of CIT Ltd., 252 ITR 412, where CBDT's Circular No.29- held that even if income is rate, the AO is duty boun same is claimed by the ass full particulars thereof. Th of the AO in estimating th rate of 7%, we direct the A the provisions
Bench: MR. JUSTICE AMARINDER SINGH GREWAL,MR. JUSTICE JAGMOHAN BANSAL
disallowed by Tribunal relying upon Section 37(4) of 1961 Act. Section 37(4) reads as:- “(4) Notwithstanding anything contained in sub-section (1) or sub-section (3), (i) no allowance shall be made in respect of any expenditure incurred by the assessee after the 28th day of February, 1970, on the maintenance of any residential accommodation in the nature
depreciation @ 100% thereon? (iii) Whether on the facts and in circumstances of the case and in law, the Hon'ble ITAT is right in allowing the assessee's claim of deduction u/s 80-I of the I.T. Act as no new industrial Unit has come into existence in the year under consideration? (iv) Whether on the facts and in circumstances
Bench: Cit(A). The Same Was Partly Allowed. The Addition Made By Applying Net Profit Dinesh Kumar 2022.10.16 16:54 I Attest To The Accuracy & Integrity Of This Document
depreciation is to be allowed from the income determined by applying the net profit rate of 6.5%.” DINESH KUMAR 2022.10.16 16:54 I attest to the accuracy and integrity of this document ITA-61-2021 (O&M) 3 6. While dealing with the issue of addition of unexplained expenditure, ITAT held that the issue is no more res integra
Appeal is dismissed
Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA
disallowed and added back to the income of the assessee. In appeal, the CIT (A) upheld the reopening of the assessment and opined that the claim of capital expenditure as Revenue expenditure, which had been allowed by the Assessing Officer, was the valid reason to reopen the assessment to bring to tax the capital expenditure allowed as Revenue expenditure
Bench: MR. JUSTICE AJAY TEWARI,MR. JUSTICE AVNEESH JHINGAN
disallowed. Thereafter notice under Section 148 of the Act was issued to the assessee claiming that the benefit of Section 80-I of the Act had wrongly been extended. Ultimately the Tribunal set aside this order holding that the primary condition of Section 147 of the Act viz 'reason to believe' (as defined by a plethora of judgments
