During the assessment year 1997-98, the assessee claimed depreciation at 100% on 70 MTPH boiler, amounting to Rs. 3,85,38,500/-, stating that the boiler was given on lease to M/s. Thiru Arooran Sugars Limited (TASL) as per the lease agreement dated 29.03.1997. The boiler is located at Kollumangudi Village, Nannilam Taluk in the premises of TASL. [...]
Depreciation: Date of Use is the Day Lessee Receives Machinery
September 21, 2012 by Leave a Comment
Relief u/s Section 50(2) Avaialble to 100 % Export Oriented Units .
September 19, 2012 by Leave a Comment
The assessee is an individual engaged in the business of rig operation, transportation of LPG gas, marbles etc. The assessee had an export oriented unit run under the name and style of ‘GTP Granites’. On the expiry of the term of the benefit available to 100% export oriented unit under Section 10B of the Income [...]
The Commissioner Of Income-Tax, … vs Shri Bharat R. Ruia (Huf on 18 April, 2011
April 17, 2011 by
Whether the transactions in exchange traded financial derivatives are "speculative transactions" as defined in Section 43(5) of the Income Tax Act,1961 ? b) If so whether clause (d) inserted to the proviso to Section 43(5) of the Act w.e.f. 1-4-2006 wo...
Mumbai High Court Quashes Writ on Valuation of Goods
March 2, 2011 by
<p> 1 wp10002-10-jud++</p> <p> IN THE HIGH COURT OF JUDICATURE AT BOMBAY</p> <p> CIVIL APPELLATE JURISDICTION</p> <p> WRIT PETITION NO.10002 OF 2010</p> <p>M/s. Apcotex Industries Ltd. ] (formerly k...
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