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2003 (10) TMI 23 - HC - Income TaxWhether the Tribunal was right in law in holding that the interest amount claimed by the ONGC in respect of arrears of its claim for gas liability was also not allowable as the same was contingent liability? - Whether the Tribunal applied the correct principle for computing the profits of Panpharma Division by providing for allocation of the aforesaid expenses reducing the profits of the division for the purposes of the sections 80HH and 80-I ? - Whether the Tribunal was right in law in holding that for the purpose of computation of deduction under section 80HHC, 90 per cent. of the income relatable to rent, computer charges, service charges, miscellaneous income and insurance claim was required to be deducted from the profits ? – Questions are answered in affirmitive
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