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 August 2012 Year 2012 This

Estimation of income u/s 44AD of the Act - the depreciation ...


Income Estimation u/s 44AD Requires Depreciation Deduction; Authorities Must Follow Board's Circular.

August 17, 2012

Case Laws     Income Tax     HC

Estimation of income u/s 44AD of the Act - the depreciation allowance should be deducted therefrom - authorities should be guided by the binding circular of the Board - HC

View Source

 


 

You may also like:

  1. Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

  2. Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

  3. Rejection of book result u/s 145(3) - estimation of income - Deduction of depreciation from the estimated income - Depreciation should be allowable being statutory...

  4. Assessment of trust - claim of depreciation - Exemption u/s 11 - section 32 of the Income-tax Act providing for depreciation for computation of income derived from...

  5. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  6. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  7. Entitled to deduction u/s 80IA (4)(iii) on rental income - where the main business of the company is to earn rental income as its business income, the income would be...

  8. Addition of the depreciation from contract income and Tripper income - claim not made by the assessee in his return of income since assessee had shown his income under...

  9. Taxability of income of A.P. Pollution Control Board - when the income/receipts of the board remain with the board itself and not transferred to the state govt. such...

  10. Addition u/s 68 - assessee has shown its return of income u/s 44AD - it is undisputed fact that the assessee had not maintained books of account that is why he opted for...

  11. The subordinate authority is not empowered to supersede the orders passed by the appellate authority and an administrative discipline requires that the subordinate...

  12. Loss from other source [wrongly shown as interest] and set off u/s.71 - assessee had opted for the deeming provision contemplated u/s.44AD of the Act but had separately...

  13. Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be...

  14. Deduction u/s.80IA - Interest and other income - the assessee is not entitled for deduction towards eligible profit u/s.80IA of the Act in respect of other income...

  15. Deduction of depreciation while determining the deduction u/s 80IB - for the purposes of deduction under Chapter VIA, the gross total income has to be computed inter...

 

Quick Updates:Latest Updates