INCOME TAX BANGALORE vs. SHALINI BHUPAL

Appeal is dismissed

depreciation in respect of such machi-nery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of the installation of the machinery or plant by the assessee. Explanation 2.—Where in the case of an industrial undertaking, any machinery

The Commissioner of Income Tax-IV vs. M/s Pokarna Limited

The appeals are dismissed

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Section 14, which are mutually exclusive and determine the heads under which the income is to be assessed. The objects in the memorandum of the company cannot determine the heads of income under which the income is to be taxed. The lease rental income from any property of which an assessee is a beneficial owner shall be liable

The Commissioner of Income Tax-IV vs. Nekkanti Sea Foods Limited

The appeal is dismissed without any order as to costs

Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA

Section 115JB of the Act. The Assessing Officer in the assessment order has recorded that the assessee had debited a sum of Rs.31,54,844/- in the computation of income as deferred revenue expense and 10% of the said amount was debited to the profit and loss account as deferred revenue expenditure. The assessee was accordingly asked to justify