Charitable registration cancellation: limitation and jurisdiction upheld, but withdrawal quashed under discontinued provisions for skill-development e...
Exemption for non-air-conditioned restaurant services survives where the establishment's air-conditioned section is separately identifiable and taxabl...
Page of 4788
Press 'Enter' after typing page number.
1141 to 1160 of 95749 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Selective revaluation noted by the auditor did not by itself disqualify certified accounts for MAT purposes or justify excluding depreciation on the revaluation component from book profit. The High Court held that once the accounts complied with the Companies Act and were certified under the statutory audit framework, the Assessing Officer could not go behind the book profit except to the limited extent permitted under the MAT provisions. The Tribunal erred in treating the auditor's qualification note as undermining the true and fair view of the accounts; the assessee succeeded and the CIT(A)'s order was restored.
Selective revaluation noted by the auditor did not by itself disqualify certified accounts for MAT purposes or justify excluding depreciation on the revaluation component from book profit. The High Court held that once the accounts complied with the Companies Act and were certified under the statutory audit framework, the Assessing Officer could not go behind the book profit except to the limited extent permitted under the MAT provisions. The Tribunal erred in treating the auditor's qualification note as undermining the true and fair view of the accounts; the assessee succeeded and the CIT(A)'s order was restored.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4788
Join Channel
TaxTMI 
