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2017 (6) TMI 496 - AT - Income TaxPurchase of sales tax exemption certificates - revenue or capital expenditure - Held that:- We find that in the present case the assessee claimed expenditure from purchasing Certificates from third party under the scheme introduced by the Govt. of Maharshtra and with the permission of the concerned department. In such circumstances, we are of the view that the CIT-A was justified in deleting same. We uphold the order of the CIT-A. Therefore, the ground raised by the revenue is dismissed. Disallowance of set off on unabsorbed depreciation carried forward from A.Y 1998-99 - Held that:- We find that the CIT-A by following ecision rendered by the Hon’ble High Court of Gujarat in the case of General Motors (India) Pvt. Ltd [2012 (8) TMI 714 - GUJARAT HIGH COURT] wherein it held that if any unabosrbed depreciation or part therein could not set off and it would be carried forward till the time of set off against profit and gains of subsequent years without any limit whatsoever - Decided in favour of assessee.
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