Saturday 25 January 2014

Cost of gas fire equipment excluded from plant and machinery to compute limit of investment for sec.

IT: Where it was apparent from records that assessee's investment in plant and machinery after excluding cost of gas fire equipment falling in category of 'gas producer plant', did not exceed Rs. one crore, it was to be treated as small scale industry and, therefore, its claim for deduction under section 80-IB was to be allowed


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