Depreciation Income not claimed as Corresponding Deferred Grant Income was included as Receipts u/s 11: ITAT directs Re adjudication [Read Order]

Not claimed application of Income towards depreciation as corresponding income shown under head “Deferred Grant Income includes in receipts under Section 11 of the Income Tax Act
Depreciation Income - Claimed - Corresponding Deferred Grant Income - Receipts - ITAT - Re-adjudication - taxscan

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) directed re-adjudication as depreciation income was not claimed, given that corresponding deferred grant income was included as receipts under Section 11 of the Income Tax Act, 1961 The Assessee is a Trust registered under section 12A of the Income Tax Act as a…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now