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Income Tax - Highlights / Catch Notes

Home Highlights October 2016 Year 2016 This

Diminution of value of shares - the amount that is to be taxed ...

Income Tax

October 14, 2016

Diminution of value of shares - the amount that is to be taxed is the real income which is to be deducted on the basis of the accounting system regularly maintained by the assessee and that was done by the assessee in the present case - AT

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  2. Diminution in value of inventory - in the case of slow moving items which did not have a ready market, it was permissible for the assessee to adopt a lower value - AT

  3. Deemed Loss - Diminution in the value of investment in two unlisted companies - Loss in the value of investment will arise only when such shares are sold by the...

  4. Computation of amount of diminution value on securities - the amount of premium on investment has not been taken into consideration at the time of computing diminution...

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  6. Refund of service tax on the basis of credit note - value of services provided (sharing of expenses) earlier got reduced as per the mutual agreement - refund allowed - AT

  7. Amount received after deducting retention money and revenue was recognized accordingly - TDS was deducted including retention money - Addition on the basis of TDS...

  8. MAT Computation u/s 115JB - once assessee has reduced amount shown by it as a provision for diminution of investment from its total value of investment, it no longer...

  9. Provision for diminution in the value of closing stock – Had it had claimed the net realizable value of closing stock in trading account, the debit of provision for...

  10. Addition u/s 56(2)(viib) - valuation under Rule 11UA (2) - Even if preferential shares and equity shares are considered to be falling within the purview of Section...

 

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