Home Highlights November 2012 Year 2012 This

You may also like:

1. Revision orders u/s 263 - order passed against a dead person - If the Department had issued the notice addressed to the legal heir himself, by taking recourse to...

2. Government is obliged to collect only that amount of tax which is legally payable by an assessee. Officers of the Department must not take advantage of ignorance of an...

3. Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

4. Unabsorbed depreciation is to be added to the account of allowance of depreciation of the next year and as such merges with next year’s depreciation allowance - and...

5. Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

6. 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 -...

7. Unabsorbed depreciation - whether unabsorbed depreciation should be allowed before the allowance of the unabsorbed investment allowance - This scrambled egg cannot be...

8. Carry forward of investment allowance - unabsorbed depreciation of Amalgamating Company - Section 72A - Claim allowed - HC

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

10. Dis-allowance of depreciation on windmills – windmills installed & put to use on 31.03.05 – generation of electricity started in April 2005 – the claim for depreciation...

11. Validity of SCN and audit notes issued - mandatory pre-show cause notice Consultation- A master circular issued by the department is binding upon its officers. The...

12. Allowance of depreciation at 50% - Only because the inauguration took place in October, 2007 that cannot be a sole criteria to deny assessee’s claim of depreciation at...

13. Offshore unit in Dubai treated as proprietary concern, profits taxable in assessee's hands. AO's addition disallowed based on ITAT's consistent rulings favoring assessee....

14. Block assessment - It is duty of the authorities to guide the assessee, if there is some excess offering of income on a misconception and then correct it. Attempt should...

15. Wrong figure of disallowance under partnership remuneration - revenue cannot take undue advantage of the ignorance of the assessee or genuine mistake committed by the...