Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Disallowance of pro-rata premium on Foreign Currency Convertible Bonds (FCCB) claimed as expenditure by assessee under Tonnage Tax Scheme. Law prohibits deduction of any expenditure against Tonnage income once specified provisions accepted. Assessee's argument of availability of free funds rejected as not raised before lower authority. Depreciation on UPS allowed at 60% rate as per Ushodaya case, overruling 15% rate. ITAT refers to Appellate Tribunal.
Disallowance of pro-rata premium on Foreign Currency Convertible Bonds (FCCB) claimed as expenditure by assessee under Tonnage Tax Scheme. Law prohibits deduction of any expenditure against Tonnage income once specified provisions accepted. Assessee's argument of availability of free funds rejected as not raised before lower authority. Depreciation on UPS allowed at 60% rate as per Ushodaya case, overruling 15% rate. ITAT refers to Appellate Tribunal.
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