Search Results Page

Search Results

1 - 7 of 7 (0.49 seconds)

M/S Madras Industrial ... vs The Commissioner Of Income Tax,Tamil ... on 4 April, 1997

18. Further, revenue expenditure which is incurred wholly and exclusively for the purpose of business must be allowed in its entirety in the year in which it is incurred. It cannot be spread over a number of years even if the assessed has written it off in his books over a period of years. [Reliance can be placed on Madras Industrial Investment Corporation Ltd. v. Commissioner of Income Tax ]
Supreme Court of India Cites 16 - Cited by 445 - Full Document

Goetze (India) Ltd. vs Cit on 24 March, 2006

In Goetze (India) Limited v. Commissioner of Income Tax wherein deduction claimed by way of a letter before Assessing Officer, was disallowed on the ground that there was no provision under the Act to make amendment in the return without filing a revised return. Appeal to the Supreme Court, as the decision was upheld by the Tribunal and the High Court, was dismissed making clear that the decision was limited to the power of assessing authority to entertain claim for deduction otherwise than by revised return, and did not impinge on the power of Tribunal.
Supreme Court of India Cites 3 - Cited by 1246 - Full Document
1