Tribunal Approves Depreciation on Revalued Assets, Ensures Compliance with Statutory Accounting; No Legal Errors Found in MAT Cases.

Tribunal Approves Depreciation on Revalued Assets, Ensures Compliance with Statutory Accounting; No Legal Errors Found in MAT Cases. https://www.taxtmi.com/highlights?id=6382 Depreciation on the revalued assets - Tribunal did not commit any error in law in allowing the depreciation on the revaluation reserve, which is a prescribed and statutory method of accounting, and by which the book profits do not get reduced, giving any added benefit to the companies including Minimum Alternate Tax (MAT) companies - HC en-us Thu, 03 Jan 2013 18:28:41 +0530 Thu, 03 Jan 2013 18:28:41 +0530 TaxTMI RSS Generator Tribunal Approves Depreciation on Revalued Assets, Ensures Compliance with Statutory Accounting; No Legal Errors Found in MAT Cases. https://www.taxtmi.com/highlights?id=6382 Depreciation on the revalued assets - Tribunal did not commit any error in law in allowing the depreciation on the revaluation reserve, which is a prescribed and statutory method of accounting, and by which the book profits do not get reduced, giving any added benefit to the companies including Minimum Alternate Tax (MAT) companies - HC Highlights Income Tax Thu, 03 Jan 2013 18:28:41 +0530 https://www.taxtmi.com/highlights?id=6382