TaxTMI 
TaxTMI 
2007 (9) TMI 366
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.... opinion of this court relevant to the assessment year 1985-86 : "1. Whether on the facts and in the circumstances of the case, the Tribunal was right in law in allowing relief in respect of sales tax payable which amount was paid subsequent to the close of the accounting year and not before the close of the accounting year. 2. Whether on the facts and in the circumstances of the case, the Tribu....
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....hin the due date under the Sales Tax Act. 4. The contention of the assessee, which has also been accepted by the Tribunal, is that the payment of sales tax dues within the due date, though after the close of the accounting year is deductible in the relevant assessment year. 5. The controversy in this regard has been set at rest by the apex court in the case of Allied Motors P. Ltd. v. CIT [1997]....
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....st of the assets to the assessee, reduced by that portion of the cost thereof, if any, as has been met directly or indirectly by any other person or authority for the purposes of calculation of depreciation. In the case on hand, the subsidy was specific subsidy and was given by the Government to purchase the generator. Therefore, the amount of subsidy is liable to be deducted to find out the actua....
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.... on which the depreciation is admissible and, therefore, the general rate of 10 per cent. in that base was found to be admissible. It has been pointed out by the counsel for the petitioner that the general rate of 10 per cent. has been increased to 15 per cent. in the relevant assessment year. Therefore, the assessee will be entitled to get depreciation on the generator at 15 per cent. inste....