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2016 (12) TMI 1088 - HC - Income TaxDepreciation on activities undertaken in relation to the installation of windmill - Held that:- All the components used for the structure of a windmill were entitled for higher depreciation and is a part of a integrated machinery. - Decided in favour of assessee Disallowance u/s 36(1)(iii) - loans and advances and advances have been given to these family concerns out of the sale of land - Held that:- Any amount taken from the loan was diverted towards any non-business purpose and therefore the tribunal has rightly arrived at the conclusion that the claim for deduction made by the assessee for the sums given by it to one of its members from the proceeds which has been received from the sale of property were liable to be given allowance under section 36 (1)(iii) of the Income Tax Act. The matter is thus concluded on facts.- Decided in favour of assessee Allowance of expenses on earth filing and other miscellaneous expenses - Held that:- The tribunal categorically records the finding of fact that the assessee genuinely incurred expenses on earth filling and other miscellaneous expenses for the purpose of business on the property that they had purchased from the Agra Development Authority. This question too is therefore concluded by facts and answered in favour of the assessee - Decided in favour of assessee
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