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Income Tax : Amount recoverable given in advance cannot treat as income and depreciation can claim on all asset used for business

The revenue has questioned the first appellate order on the following grounds: “1. On the facts a

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Income Tax : Once the asset merges in block of assets is entitled to get depreciation till the block of asset equals to zero or company is closed

Fact of the case is depreciation on block of asset.

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Income Tax : Depreciation of asset of the institution under section 12A to be deducted to arrive at income available for charitable purposes

On the facts and in the circumstances of the case, the Ld. CIT(A) erred in allowing depreciation on

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Income Tax : Exemption available to the depreciable asset under section 54E cannot be denied by referring to the fiction created under section 50

Briefly stated the facts of the case are that the assessee is a Private Limited Company engaged in m

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Income Tax : Exemption under sec 54G subject to the utilization of amount for the acquisition of asset for the purpose of the business witnin the prescribed time limit

Briefly stated, assessee filed return of income declaring total income at `1,57,02,407/- mainly cons

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Income Tax : If Asset owned by the assessee used for business purpose depreciation cannot be disallowed and provision of income tax written back cannot be consider deemed income

Following effective grounds of appeal:- 1. That the ld.CIT(A) had erred in deleting disallowance

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Income Tax : Chargeability of waiver of loan depends upon the purpose of the loan taken if for trading purpose than chargeable and if for acquiring capital asset than not chargeable

Briefly stated facts of the case are that the assessee company is engaged in the business of manufac

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Income Tax : Incomplete flat in a multi storied building cannot fulfilled the definition of asset under sec 2(ea) of the Act

Brief facts are that during the relevant financial year 2000-01, assessee purchased incomplete flat

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Income Tax : As per sec 32(1)(ii) depreciation is allowed on intangible asset acquired on or after 1st April 1998 and expenditure on acquiring database cannot claim as revenue expenditure

the question about admissibility of depreciation of Acquired Business Database is concerned, this is

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Income Tax : In case of inheritance if asset were acquired by the previous owner before 1st April 1981 than indexation should be based on the financial year 1981 to 1982

This is an appeal filed by the revenue. It is directed against the order passed by the CIT (A) dated

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Income Tax : Expenditure incurred in acquisition of intangible asset is to be treated as revenue expenditure

On the facts and circumstances of the case, the learned CIT(A) ought not have deleted the addition o

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Income Tax : TRANSFER OF ASSETS ;;

Held by the Hon`ble Court that as the transfer of asset is not one in the nature of transfer of asse

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Income Tax : Interest on Non-perfoming assets ::

Held by the Hon`ble Court that, the principle of accrual comes in to play only when income is recogn

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Others : Section 13 of the Securitisation and Reconstruction of financial assets and enforcement of Security Interest Act, 2002

Section 13 of the Securitisation and Reconstruction of financial assets and enforcement of Security

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Income Tax : Depreciation allowance - Assets leased by assessee

Depreciation allowance - Assets leased by assessee The assessee had purchased certain steel roller

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