Sec. 115JB

Sec. 115JB

Punjab & Haryana H.C : Advance against depreciation cannot be added under the computation of the normal income , wh reas the Hon’ble Supreme Court in its decision dated 05-012010 has held that the ‘advance against depreciation’ is ‘income received in advance’, thus making the said income subject to ‘Charge unde Chapter-II, as business income under Chapter-IV-D read with sub-clause (i) of sub-section 24 of section 2

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High Court Of Punjab & Haryana Pr. CIT vs. NHPC Ltd. Section 115JB Asst. Year 2006-07 S.J.Vazifdar, CJ & Avneesh

Sec. 115JB, Section 147

Delhi H.C : Even where there were scrutiny assessments, reassessment would be permissible if in succeeding year, Assessing Officer noticed that though there was merger/amalgamation, assessee had, in computing depreciation on goodwill, instead of adopting ‘pooling of assets’ method, adopted a wrong method of ‘purchase’

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High Court Of Delhi SC Johnson Products (P.) Ltd. vs. ACIT, Circle-22(2), New Delhi Section 115JB, 147 Assessment years 2007-08

Sec. 115JB, Section 147

Gujarat H.C : Whether where question of adjustment of brought forward business loss and unabsorbed depreciation to determine book profit was considered by Commissioner (Appeals) as well as by Tribunal, Assistant Commissioner had no jurisdiction to reopen assessment as conditions precedent laid down under section 147 were not satisfied

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High Court Of Gujarat Vodafone Essar Gujarat Ltd. vs. ACIT Assessment Year : 2004-05 Section : 115JB, 147 K.A. Puj

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