Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Circular Clarifies Depreciation Under Companies Law: Ensures Accurate Financials Despite Income Tax Act Allowance Gaps.</h1> The circular addresses the determination of depreciation under specific sections of the Companies Law, emphasizing the necessity of providing depreciation for assets even if no depreciation allowance is granted under the Income-tax Act. It clarifies that practical difficulties related to certain sections of prior Acts are unlikely due to consolidated allowances available under other provisions. The circular stresses that omission of depreciation in a company's books could result in financial statements that do not accurately reflect the company's true financial state.
TaxTMI 
TaxTMI 
