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2 results for “depreciation”+ Section 195clear

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Key Topics

Section 2602Section 260A2Addition to Income2

The Commissioner of Income Tax IV vs. M/s. Nav Bharat Enterprises Limited

ITTA/169/2013HC Telangana02 Jul 2013
Section 10ASection 10A(3)Section 195Section 260Section 260ASection 40

depreciation of Rs.17.06,58,039/- on software imported even though the assessing authority had rightly disallowed the expenditure under section 40(a)(i) of IT Act as the assessee had failed to comply with the provisions of section 195

THE STATE BANK OF HYD. vs. THE JT.COMMI.SPL.RANGE IV HYD.

ITTA/103/2001HC Telangana07 Sept 2022

C.V. BHASKAR REDDY,UJJAL BHUYAN

Bench:
Section 21Section 251Section 254(2)Section 260Section 260ASection 27Section 43I

depreciation allowancc to the l8 assessees. Based upon the said Supreme Court decision, rectification orders were passed by the successor assessing authority. Whether a subsequent decision can be the basis for "rectifying" a.:n ea.rlier order in exercise of the powers under section 154 of the lncome-ta-x Act? Although the opening words of section 154(l) - "with