Income Tax Business Application (ITBA) Exemption Module-Approval, registration cancellation of trusts societies non-profit companies u/s 12AA 80G(5) 10(23C)

Income Tax Business Application (ITBA) Exemption Module Income Tax Department has launched a new Income Tax Business Application (ITBA) Exemption Module (Phase1). The said module has been designed to automate and expedite the the following functions: (a) Registration and cancellation of trusts/societies/non-profit companies u/s 12AA of the Income Tax …

Additional depreciation u/s 32(1)(ii) on capital work in progress converted into plant and machinery erected, commissioned during the year allowable – ITAT

Additional depreciation u/s 32(1)(ii) on Capital Work in Progress converted into plant and machinery during the year is allowable – ITAT ABCAUS Case Law Citation: 976 2016 (07) ITAT Assessment Year: 2006-07 Date/Month of Judgment/Order: July 2016 Important Judgments Cited: JCIT vs. Lotus Energy (India) Ltd. 68 taxmann.com …