Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2013 Year 2013 This

Expenses for Replacement of Machinery - Expenditure incurred for ...


Claim for Machinery Replacement Deductions Aimed at Reducing Tax Liability Under Scrutiny.

November 26, 2013

Case Laws     Income Tax     AT

Expenses for Replacement of Machinery - Expenditure incurred for replacement of Ring Frames – the claim for deduction was made merely to diminish the tax burden. - AT

View Source

 


 

You may also like:

  1. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  2. RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

  3. Expenditure incurred for modernisation / replacement of machinery is not "current repairs" u/s 31(i) - SC

  4. The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

  5. Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

  6. Waiver of interest under Section 234B and 234C - Non deduction of TDS by the payer - prior to the financial year 2012-13, the amount of income-tax which is deductible or...

  7. ITAT ruled in favor of assessee regarding GST disallowance u/s 43B. The tribunal found that GST amount was not routed through Profit & Loss account but shown under...

  8. The High Court upheld the Income Tax Appellate Tribunal's decision to delete the addition made by the Assessing Officer u/s 41(1) of the Income Tax Act. The provisions...

  9. Scrutiny assessment - conversion of the case from limited scrutiny to complete scrutiny - Bogus purchases - it is very much apparent that the proposal of converting the...

  10. The proposed Income Tax Bill 2025 aims to replace the Income Tax Act 1961 with a modernized and streamlined tax framework comprising 536 sections across 23 chapters. Key...

  11. The case pertains to the scope of limited scrutiny by the assessing officer regarding computation of capital gains u/s 45 and providing exemption u/s 54B of the Income...

  12. The Finance (No. 2) Bill, 2024 encompasses provisions relating to tax proposals for the Union Budget 2024-25. It outlines amendments to various direct and indirect tax...

  13. Deduction u/s. 80JJA - Computation of profits - AO allowed the claim - CIT(A) reduced the claim of deduction - In the present appeal AO rightly deducted the depreciation...

  14. TDS u/s 192 - Liability of tax deduction at source from the salary paid to teachers who are nuns or priests of the religious congregations - Chargeability to tax is not...

  15. Additions beyond the scope of limited scrutiny assessment - Conversions of Limited Scrutiny to Extensive Scrutiny - no steps has been taken to convert the limited...

 

Quick Updates:Latest Updates