Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 2006 (11) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (11) TMI 137 - SC - Income TaxRespondent under an agreement with the vendor, purchased an undertaking and had also taken over the accrued and future gratuity liability of the vendor - assessee claimed that since this amount of ₹ 3.5 crores towards gratuity is capital expenditure hence it is entitled to depreciation on the sum u/s 32 - the word "plant" had been given the deeming meaning vide section 43(3) but even this deeming meaning does not include the gratuity liability - hence no depreciation can be granted
|