ITAT affirms claim of deprecation on leasehold land acquired from State Government
IT : Where assessee, engaged in mineral exploration, claimed deduction of provision for mine closure obligation, Commissioner (Appeals) rightly directed Assessing Officer to ascertain amount of year wise mining and allow mine closure obligation to extent mining was done corresponding to current year
IT : Assessee's claim for depreciation in respect of leasehold land acquired from State Governments which could be used over a certain period of time, was to be allowed
IT : Stamp duty paid for renewal of mining lease was allowable as revenue expenditure
IT : Assessee's claim for deduction towards amount spent on corporate social responsibility such as payment made towards flood relief work, construction of musical fountain etc. was to be allowed as deduction
IT : Where preoperative expenses incurred by assessee were certified as capital expenditure by auditors, assessee could not claim deduction of same as revenue expenditure without providing any details or reasons in support thereof
IT : Where assessee made only ad hoc provision for PF, revenue authorities were justified in disallowing same in terms of section 43B
Regards
Prarthana Jalan
__._,_.___
No comments:
Post a Comment