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2005 (8) TMI 56 - HC - Income Tax"I. Whether, Tribunal was justified in holding that the assessee is entitled for deduction on account of investment allowance, by ignoring the fact that the assessee is engaged only in processing activity and not in production and manufacturing of any article or thing,? II. Whether, Tribunal, was justified in allowing the claim of the assessee being fees paid to the Registrar of Companies for increasing the authorised capital of the company for the purpose of issuing bonus shares? III. Whether, Tribunal was justified in directing to grant the depreciation of Rs. 76,368 totally ignoring Explanation 8 to section 43(1) of the Income-tax Act?" question No. 1 is decided against the Revenue and in favour of the assessee. question No. II is decided in favour of the Revenue and against the assessee. question No. III is decided in favour of the assessee and against the Revenue.
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