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ASSESSMENT OF INCOME A.Y.2011-12, Income Tax |
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ASSESSMENT OF INCOME A.Y.2011-12 |
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We have filed I.T.R.FOR A.Y.2011-12 showing book profit of Rs.2,85,00,000/- and paid MAT Rs. 1,11,00,000. Recently assessment for the said A.Y. has been completed and A.O.has determined income of Rs.65,00,000/- disallowing Depreciation at the rate of 80 percent and allowing only at the rate of 15 percent . and asked to pay Income tax on the said income as determined by the A.O.whether we are entitled for refund of MAT? Further whether the Depreciation so disallowed can be adjusted and to the block of assets so as to determine taxable income for the next A.Y.? Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
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