Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2004 (9) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2004 (9) TMI 14 - PUNJAB AND HARYANA HIGH COURT"1. Whether, Tribunal was right in law in not having allowed initial depreciation on an amount of Rs. 13,502 being the expenditure on water cooler places, in view of section 32(1)(iv)? – This question is answered in the affirmative, i.e., against the assessee - 2. Whether Tribunal was right in law in having treated the amount of Rs. 1,56,393 earned by it from sale of import entitlements as constituting revenue receipt, liable to tax? - This question is answered in the affirmative, i.e., against the assessee - 3. Whether Tribunal has correctly interpreted rule 6D(2) while disallowing a sum of Rs. 2,000 out of the travelling expenses?" - This question is also answered in the affirmative, i.e., against the assessee - Whether Tribunal is right in allowing initial depreciation on the construction of cycle stand for workers (cable unity as well as for that of (XLPE unit) which items have not been specifically mentioned in section 32(1)(iv)?" – This question is answered in the affirmative, i.e., against the Revenue and in favour of the assessee.
|