Section 48 in Finance Act, 2012 [Entire Act]
shall be substituted, namely: - "(j) the amount standing in revaluation reserve relating to revalued asset on the retirement or disposal of such asset
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1 - 10 of 91 (0.62 seconds)The Commissioner Of Income Tax And Anr. vs M/S Rampur Distillery & Chemical Co. ... on 8 November, 2012
depreciation on revalued assets. The assessee filed written submissions and stated that "the depreciation of assets of revalued figures are to be allowed because ... written down value method and not revalued figure has to be taken in the case of revaluation of assets shown after
Alembic Limited, Baroda vs Assessee on 13 March, 2012
revaluation should have taken place. But there
is no dispute on the treatment of the revaluation or the treatment of
depreciation on the revalued assets ... revaluation should have been taken place and there is
no dispute on the treatment of revaluation or the treatment of depreciation
of the revalued assets
Galaxy Swass P. Ltd , vs Department Of Income Tax on 8 June, 2012
column for 'revaluation reserve'. The
assessee had taken revaluation reserve directly to the balance sheet
as the asset had been sold during ... assessee had taken
the revaluation reserve of Rs.94,14,857/- to the balance sheet. Thus
revaluation of the asset and creation of revaluation reserve
Cit vs Bhushan Steel Ltd. on 24 August, 2012
profit and
loss account (excluding the depreciation on account of
revaluation of assets); or
(iib) the amount withdrawn from revaluation reserve and
credited ... does
not exceed the amount of depreciation on account of
revaluation of assets referred to in clause (iia); or
(iii) the amount of loss brought
Bharat Overseas Bank Ltd., Chennai vs Department Of Income Tax on 4 October, 2012
erred in directing the
assessing officer to allow loss on revaluation of assets of `
27,76,08,025/-.
6. The learned CIT(A) has failed ... appeal (ground Nos. 5 & 6) relates
to loss of revaluation of assets. During the course of the
30
ITA Nos.213-215 /Mds/2010
Sigma Cartons (P) Ltd., Ludhiana vs Department Of Income Tax on 6 July, 2012
total assets' shall mean, total asset as
appearing in the balance sheet excluding the increase on account of
revaluation of asset but including ... decrease on account of revaluation of
assets.).
Clause (b) of sub-section (2) clearly shows that if assessee does not show that the
interest
M/S Varren Financial Services (P) Ltd vs Commissioner Of Income Tax on 21 February, 2012
entry in books of accounts - Assets of old firm
taken over by new firm at written down Value
Assets revalued and differences debited
Prayas Engineering ... vs . .....Respondent(S) on 21 December, 2012
considered
the aspect of utilization of reserve arising out of revaluation of
assets for the purpose of issuing fully paid-up bonus shares,
therein ... clearly and specifically permits
utilisation of reserve arising out of revaluation of assets for
purpose of issuing fully paid up bonus shares.
7.3
Learned Counsel
Commissioner vs M/S on 28 June, 2012
facts in
allowing depreciation on all the additions made to the fixed assets
adopting WDV?
[B]
Whether the Appellate Tribunal is right ... profit u/s.
115JA of the Act without making adjustment on revalued assets,
pre-operative interest income, capital receipts and
disallowance/addition of expenditure