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This query is : Resolved
06 February 2013
Good evening,
CAPITAL ITEMS PURCHASED IS IT CLAIMED FOR SEC 11(1)(a&b): Accumulation to the extent of 15%?
CAPITAL ITEMS PURCHASED IS IT CLAIMED FOR SEC 11(1)(a&b): Accumulation to the extent of 15%?
06 February 2013
Capital expenditure can be treated as application of income u/s 11(1)(a).
Citation :- CIT Vs. Kannika Parameswari..... (1982) 133 ITR 779(Mad).
Citation :- CIT Vs. Kannika Parameswari..... (1982) 133 ITR 779(Mad).
08 February 2013
Yes, Capital Expenditure, Fixed Assset, Later Depreciation Can be Claimed as Application of Income.
Double Effect.
Double Effect.
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