SICA repeal and abatement of rehabilitation proceedings barred further control over company assets; illegal share allotments and sales were struck dow...
Disallowance of claim of deduction on cost of replanting under Rule 7A - The assessee does not have a case that the expenses incurred under the head replanting and maintenance are for infilling through replacement of dead trees or other trees that have become useless. On the contrary, it is an admitted position that the replanting expenses and maintenance expenses are incurred for planting new area of rubber and not an area already planted with yielding rubber. - Expenditures need to be capitalized.
Disallowance of claim of deduction on cost of replanting under Rule 7A - The assessee does not have a case that the expenses incurred under the head replanting and maintenance are for infilling through replacement of dead trees or other trees that have become useless. On the contrary, it is an admitted position that the replanting expenses and maintenance expenses are incurred for planting new area of rubber and not an area already planted with yielding rubber. - Expenditures need to be capitalized.
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