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3 results for “depreciation”+ Section 40A(9)clear

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Key Topics

Section 36(1)(vii)4Section 36(1)(va)3Deduction3Section 37(1)2Section 322Depreciation2

COMMISSIONER OF INCOME TAX vs. MAHENDRA MILLS

The appeal is dismissed

C.A. No.-005394-005394 - 1994Supreme Court15 Mar 2000
For Respondent: MAHENDRA MILLS
Section 32Section 34Section 72Section 73

40A, such depreciation shall be excluded for the purposes of sub-rule (1)." This Rule 5AA prescribed the particulars for depreciation necessary to be furnished for allowance of depreciation. Prior to insertion of Rule 5AA return of income tax in the form prescribed itself required particulars to be furnished if the assessee claimed depreciation. Mr. Dastur said that the case

CHECKMATE SERVICES P LTD vs. COMMISSIONER OF INCOME TAX-I

C.A. No.-002833-002833 - 2016
Supreme Court
12 Oct 2022

Bench: HON'BLE THE CHIEF JUSTICE

Section 2Section 2(24)(x)Section 28Section 36Section 36(1)(va)Section 43B

40A(2) opens with a non-obstante clause and spells out what expenses and payments are not deductible in certain circumstances. Section 41 elaborates conditions which apply with respect to certain deductions which are otherwise allowed in respect of loss, expenditure or trading liability etc. If we consider this scheme, Sections 40- 43B, are concerned with and enact different conditions

M/S. SOUTHERN TECHNOLOGIES LTD. vs. JOINT COMMNR. OF INCOME TAX, COIMBATORE

C.A. No.-001337-001337 - 2003Supreme Court11 Jan 2010
Section 145Section 2(24)Section 36(1)(vii)Section 37Section 37(1)

9 In rejoinder, it has been submitted on behalf of the appellant(s) /assessee(s) that even if “Provision for NPA” is treated to be in the nature of a reserve still it will not convert a statutory debit in the P&L Account or a statutory charge in the said Account as “real income”. It is contended that under