https://www.taxtmi.com/caselaws?id=65361 Beneficial possession and effective control over office buildings, with substantial payment and enjoyment of dominion, are treated as sufficient for depreciation even without a registered conveyance deed. A sales-tax exemption granted to promote industrial development in backward areas is characterised as a capital receipt, and a tax waived by the notification is not a sum payable for section 43B disallowance. For MAT computation under section 115JA, the Assessing Officer's adjustment power is confined to the statutory Explanation, so arrears of depreciation reflected in duly prepared accounts are not re-opened beyond that limit. Interest under sections 234B and 234C is also stated to be inapplicable on deemed book profit taxation. en-us Thu, 27 Feb 2003 00:00:00 +0530 Tue, 15 Feb 2011 12:00:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65361 Beneficial possession and effective control over office buildings, with substantial payment and enjoyment of dominion, are treated as sufficient for depreciation even without a registered conveyance deed. A sales-tax exemption granted to promote industrial development in backward areas is characterised as a capital receipt, and a tax waived by the notification is not a sum payable for section 43B disallowance. For MAT computation under section 115JA, the Assessing Officer's adjustment power is confined to the statutory Explanation, so arrears of depreciation reflected in duly prepared accounts are not re-opened beyond that limit. Interest under sections 234B and 234C is also stated to be inapplicable on deemed book profit taxation. Case-Laws Income Tax Thu, 27 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65361