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2014 (3) TMI 898 - AT - Income TaxAllowability of set off of unabsorbed depreciation – Calculation of book profit – Held that:- CIT(A) was of the view that the AO clearly allowed the set off brought forward depreciation which was originally set off by the assessee in its return as according to it only this much of book profit were available to it - Revenue accepted that the AO had calculated the book profit as per Section 115JB as per the direction of the CIT(A), which has been accepted by the assessee – Decided against Revenue. Sale of scrap and disallowance of expenses – Expenses relatable to export turnover – Deduction u/s 10B of the Act – Held that:- The AO did not make any adjustment for expenses in computing 10B deduction, who has made the adjustment on account of expenditure relatable to any income to which Section 10 applies for the purpose of 115JB which has been held by the CIT(A) against the law and he had allowed the appeal for Section 115JB computation of income – the ground does not exist from the order of the AO as well as order of the CIT(A) – Decided against Revenue.
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