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Commissioner Of Income-Tax, ... vs Society Of The Sisters Of St. Anne on 26 August, 1983

The Hon'ble Punjab & Haryana High Court has also made a reference to the decision of the Hon'ble Karnataka High Court in the case of CIT v. Society of Sisters of Anne, 146 ITR 28 (Kar), wherein it was held that u/s. 11(1) of the Act, income has to be computed in normal commercial manner and the amount of depreciation debited in the books is deductible while computing such income. In view of the 25 ITA Nos.661 & 882/Bang/2014 aforesaid decision on the issue, we are of the view that the order of the CIT(A) on the above issue does not call for any interference.
Karnataka High Court Cites 20 - Cited by 265 - Full Document
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