Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure 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-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Allocation of common costs: tonnage tax companies must apportion shared expenses and depreciation fairly between activities. Tonnage tax companies carrying on other businesses must determine common costs attributable to the tonnage tax business on a reasonable basis. Depreciation for any non-qualifying asset used for both tonnage tax and other business must be allocated between activities in a fair proportion determined by the Assessing Officer, having regard to the asset's use for each activity.
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.
Provisions expressly mentioned in the judgment/order text.
Allocation of common costs: tonnage tax companies must apportion shared expenses and depreciation fairly between activities.
Tonnage tax companies carrying on other businesses must determine common costs attributable to the tonnage tax business on a reasonable basis. Depreciation for any non-qualifying asset used for both tonnage tax and other business must be allocated between activities in a fair proportion determined by the Assessing Officer, having regard to the asset's use for each activity.
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