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2013 (12) TMI 1415 - HC - Income TaxDepreciation for the purposes of section 115JA - Held that:- Following Apollo Tyres Ltd Vs. CIT [2002 (5) TMI 5 - SUPREME Court] - Company as well as Registrar of Companies is obliged to satisfy that the accounts of the company are maintained in accordance with the requirements of the Companies Act - The book profits u/s 115JA, depreciation shall be computed on the same method and rates, which have been adopted for calculating the depreciation for the purpose of preparing the profit and loss account laid before the company at its Annual General Meeting in accordance with the provisions of Section 210 of the Companies Act, 1956 - The department did not bring anything on record, which could have established that the accounts of the company were not maintained in accordance with the requirements of the Companies Act - Decided against Revenue.
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