Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Actual cost adjustments govern asset valuation for business income, including transfers, subsidies, depreciation and corporate restructuring. Section 43 defines actual cost as the assessee's asset cost reduced by amounts met by others, subject to statutory exclusions and reductions for prior ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Actual cost adjustments govern asset valuation for business income, including transfers, subsidies, depreciation and corporate restructuring.
Section 43 defines actual cost as the assessee's asset cost reduced by amounts met by others, subject to statutory exclusions and reductions for prior research deductions, subsidies, excise duty credits, interest attributable to post-use periods, and anti-avoidance adjustments where transfers inflate cost. Transfers on amalgamation, demerger, corporatisation or between related companies may carry over the transferor's cost or written down value when conditions are met. Written down value is actual cost less depreciation actually allowed, with specified aggregation and adjustment rules for blocks of assets and corporate reorganisations.
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