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2002 (9) TMI 19 - HC - Income TaxWhether Tribunal is correct in law in holding that the expenditure of Rs. 26,729 actually incurred and for which liability to pay has arisen in the accounting year can be disallowed as not an admissible deduction in computing the income from business? - Held that the actual expenditure incurred has to be allowed notwithstanding the method of accounting the assessee followed – Thus this question is answered in favour of the assessee and against the Revenue – Whether Tribunal was correct in negativing the claim for the investment allowance u/s 32A, in respect of computers installed in its data processing division? - Whether Tribunal having held that computers are not office appliances erred in law in not considering the data processing division as a separate industrial undertaking eligible for deduction u/s 32A?" – These two questions are answered in favour of the assessee and against the Revenue
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