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2013 (9) TMI 806 - HC - Income TaxDepreciation on the block of assets - Rs.4,27,868/- added by the Assessing Officer towards depreciation of the units on the ground that the factory at Vallabh Vidyanagar had remained closed – Held that:- Relying upon the judgment in the case of Packwell Printers Vs. Assistant Commissioner of Income-tax reported in (1996)59ITD340(JAB., it has been held that depreciation needs to be allowed on the entire block of assets instead of each individual assets.BR Addition on account of section 69C of the Income Tax Act – Held that:- if unaccounted production was taxed and on the other hand, unaccounted purchase are also taxed, then the correct position should have been that the unaccounted purchases, alleged to have been utilized for the said production, ought to have been reduced from the unaccounted production – Decided against the Revenue.
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