Revision u/s 263 by CIT - Computation of taxability under ...

Case Laws Income Tax

March 11, 2023

Revision u/s 263 by CIT - Computation of taxability under section 115JB is affected by excess depreciation claim. Therefore, to the extent of Computation of Taxability under section 115JB and excess depreciation, there is no doubt that the assessment order is erroneous and prejudicial to the interest of the Revenue. - AT

View Source

← Previous Next →

Revision u/s 263 by CIT - Computation of taxability under ...

Case Laws Income Tax

March 11, 2023

You may also like:

Revision u/s 263 - entitlement to claim depreciation u/s 32 - That basic exercise of determining to what extent the depreciation was claimed in excess has not been...

Claim of terminal depreciation - assessee had in fact claimed depreciation as contemplated under section 32 merely because it was termed as "terminal depreciation" was...

Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

Revision u/s 263 - depreciation on goodwill claimed by the amalgamated company - The amalgamating company has not claimed any depreciation. The burden cast upon the...

Revision u/s 263 - claim for depreciation on the leasehold rights - claim of depreciation of capitalized amount of stamp duty Paid - Allowing of the assessee’s claim for...

Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

Non-granting of deduction in respect of depreciation u/s.32 - correction in the ITR - the CIT(A)’s claim that the assessee the assessee has filed a revised return...

Disallowance of excess depreciation on computer software - assessee had purchased software being operating system for Windows and claimed depreciation as per Rule 5 of...

Disallowance on account of depreciation on goodwill - Scheme of Amalagamation adopted - the 5th proviso was inserted in order to prevent double claim of the depreciation...

Penalty u/s 271(1)(c) - Excess depreciation claim - it is merely a case of difference arising out of the reworking of the carry forward depreciation by the AO by...

Disallowance of excess depreciation of electrical installation - since the assessee is engaged in manufacturing of cotton yarn and the electrical installation for which...

Claim of depreciation - Fresh claim made in the revised ITR - irrespective of the fact of assessee claiming or not, the depreciation shall be allowed while computing the...

Quick Updates: