Daily Archive: Saturday, November 12, 2016

Depreciation and exemption both not allowable to charitable trust. Statutory provision u/s 32 to prevail over customary practice-commercial principle-ITAT

Author: | Categories: Income Tax, ITAT, Judgments No comments
Depreciation and exemption both not allowable to charitable trust. Statutory provision u/s 32 to prevail over customary practice-commercial principle-ITAT The allowability of the depreciation claim to a charitable trust/institution in calculating prescribed limit of 85% towards income application u/s 11 of the Income tax Act, 1961 was settled by

Satisfaction recording 153C-same AO for searched-other person. Even if AO is one then also satisfaction has to be recorded as held by Supreme Court

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Satisfaction recording 153C-same AO for searched-other person. Even if AO is one then also satisfaction has to be recorded as held by Supreme Court   ABCAUS Case Law Citation: 1050 (2016) (11) ITAT The Grievance: In the instant case both Revenue and the assessee were aggrieved by the order

Chairman Black Money SIT & Former SC Judges praise old note ban. Letter to Finance Minister that Govt took bold step to demonetize Rs. 500 Rs.1,000 notes

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Chairman Black Money SIT & Former SC Judges praise old note ban. Letter to Finance Minister that Govt took bold step to demonetize Rs. 500 Rs.1000 notes  Ministry of Finance 11-November, 2016 The Chairman and Vice-Chairman, SIT on Black Money & Former Judges of the Supreme Court of India,
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