Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2010 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (7) TMI 573 - HC - Income TaxDisallowance - Depreciation - Capital expenditure is considered as application of income - The assessee has been constituted under the provisions of the Punjab Agricultural Marketing Produce Act, 1961 to regulate the marketing of agricultural produce - computation under the different categories or heads arises only for the purposes of ascertaining the total income for the purposes of charge - Those provisions cannot be introduced to find out what the income derived from the property held under trust to be excluded from the total income is, for the purpose of the exemptions under Chap.III - Decided in the favour of the assessee
|