that to the extent of interest not derived
from compulsory deposits would stand disallowed after netting of the
expenses/ interest expenses against such interest income
that to the extent of interest not derived
from compulsory deposits would stand disallowed after netting of the
expenses/ interest expenses against such interest income
submission of the assessee that
only 25% of the net profit has been compulsory deposited in the co-operative banks as
the Mandate
limit for compulsory tax audit of books of
accounts and he has filed return of income under presumptive basis and
rate of net profit
himself said that the shares stands reduced and that
the Company, Asia Net News Network had extinguished the number of
shares held by reducing tern ... asset; or
(ii) The extinguishment of any rights therein; or
(iii) The compulsory acquisition thereof under any law; or
(iv) In a case where
indexation benefit
is available on cost of acquisition, i.e., net worth.
28. Before and after effecting slump sale, the Assessee entered into some
ancillary ... business, the management of Assessee contemplated hiving off the
same.
Valuation of net worth of Sprinkler Business was carried on and it
was found
Acton 04-07-2017 by declaring Net taxable income
ITA No.1537/Bang/2024
Shivabasappa Kariyappanavar, Bangalore
Page 3 of 16
ofRs ... assessee
in the Asst. year under appeal was also subjected to Compulsory Retirement
Service (CRS) by the employer, the assessee claimed the severance fee
received
royalty
iii) Grounds 10 to 15 relate to payment of interest on
compulsory convertible debenture.
iv) Ground 16 is with regard to disallowance of
expenditure ... with its AEs were payment
of royalty and payment of interest on Compulsory Convertible
Debentures (CCDs). The assessee in its TP study, had
aggregated
bound to declare dividend compulsorily. Since it wanted to
improve its net worth to attract FIIs the company was not declaring
dividend. The three directors ... held that the payment of dividend by a company is not
compulsory and it is dependent upon the profitability and other
conditions of the business
received compensation of Rs 3,59,39,080 on
16.07.2008 on compulsory acquisition of his land by RIICO. The assessee thereafter opened a
savings bank ... deposited which was actually received by the assessee from
RIICO net of TDS of Rs 39,34,824. Subsequently, the TDS amount
