CORPORATE AND PROFESSIONAL UPDATES 1 AUG 2018
DirectTax : SC dismisses Revenue’s SLP challenging Delhi HC judgement in case of Central Warehousing Corporation (‘assessee’); HC had held that depreciation not to be deducted while computing exempt income from operating warehouses under erstwhile Sec. 10(29); HC had rejected Revenue’s stand that depreciation partakes the character of expenditure and hence should be reduced from …