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1983 (1) TMI 1
Depreciation, Firm, Property ... ... ... ... ..... user of the half portion of the house on its written down value. Having discussed the points arising in this reference, it only remains for us to reproduce the questions of law propounded by the Tribunal in this case, and render our formal answers thereto. The questions of law are as follows (1) Whether, on the facts and in the circumstances of the case, the Appellate, Tribunal was right in holding that no notional income in respect of the portion of property occupied by the firm should be assessed in the hands of the assessee ? (2) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in holding that depreciation is allowable in respect of the share of income on the property occupied by the firm and belonging to the assessee ? For the reasons we have earlier mentioned, our answers to both the questions of law are in favour of the assessee and against the Department. The Department shall pay the assessee s costs. Counsel s fee, Rs. 500.
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