Preliminary reassessment proceedings generally require statutory remedies unless jurisdiction is wholly absent or mandatory conditions are patently br...
Agricultural land classification requires cumulative factual indicators, while industrial-purpose land and absent agricultural use defeat reinvestment...
Section 11(6) bars depreciation as application of income for charitable purposes only where the acquisition cost of the relevant asset has already been claimed as application of income in the same or an earlier year. Where a charitable institution has not claimed capital expenditure on acquiring fixed assets as revenue application and claims only depreciation, the restriction does not create a double deduction. Depreciation on those fixed assets may therefore be treated as allowable application of income for the relevant assessment year.
Section 11(6) bars depreciation as application of income for charitable purposes only where the acquisition cost of the relevant asset has already been claimed as application of income in the same or an earlier year. Where a charitable institution has not claimed capital expenditure on acquiring fixed assets as revenue application and claims only depreciation, the restriction does not create a double deduction. Depreciation on those fixed assets may therefore be treated as allowable application of income for the relevant assessment year.
Note: It is a system-generated summary and is for quick reference only.
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