Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and Jamnadas Khimji Kothari cases held that for calculating accumulated profits u/s 2(22)(e), depreciation should be deducted at rates prescribed by Income-tax Act, not as per company's balance sheet. Profits disclosed in balance sheet are subject to adjustment by deducting depreciation as per Income-tax Act rates to determine accumulated profits for deemed dividend taxation u/s 2(22)(e).
Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and Jamnadas Khimji Kothari cases held that for calculating accumulated profits u/s 2(22)(e), depreciation should be deducted at rates prescribed by Income-tax Act, not as per company's balance sheet. Profits disclosed in balance sheet are subject to adjustment by deducting depreciation as per Income-tax Act rates to determine accumulated profits for deemed dividend taxation u/s 2(22)(e).
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