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Expenditure incurred by an Assessee after the expiry of the Life Span of a Machinery, for the Purpose of expanding its Life Span, Could be Treated as a Revenue Expenditure: Madras HC [Read Judgment]
The Madras High Court division bench comprising Justice V.Ramasubramanian and Justice T.Mathivanan recently held that the expenditure incurred by an...
Re-opening of Assessment u/s 147 can be Invoked only If the Assessee fails to disclose their True Income: Madras HC [DOWNLOAD JUDGMENT]
The Madras High Court, on appeal filed by the Commissioner of Income Tax, Coimbatore held that the re-opening of assessment u/s 147 of the Income Tax Act, 1961 against M/s.PRICOL Ltd., Coimbatore was...
