Disallowance of depreciation - Assets leased to Western Railways ...

Depreciation Claim on Assets Leased to Western Railways Approved After Proving Assessee's Lack of Asset Interest.

August 23, 2013

Case Laws Income Tax AT

Disallowance of depreciation - Assets leased to Western Railways -It is not proved that assessee is only a financer and is not interested in the assets and therefore, it cannot be said as full payout lease - depreciation allowed - AT

View Source

← Previous Next →

Disallowance of depreciation - Assets leased to Western Railways ...

Depreciation Claim on Assets Leased to Western Railways Approved After Proving Assessee's Lack of Asset Interest.

August 23, 2013

Case Laws Income Tax AT

You may also like:

Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

Depreciation on lease assets given to Konkan Railway Corporation Ltd - the transaction in question is finance lease and not operating lease. - no depreciation on asset...

TP Adjustment - Claim of depreciation on software - no ownership claim of the assessee proved - Section 32 of the Act provides depreciation on the eligible assets owned...

Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

Disallowance of depreciation on cars given on lease - no depreciation is claimed by the lessee on these leased cars - assessee company has rightly claimed the...

Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had...

Assessee entitled to claim depreciation on leased assets despite revenue's contention that transactions were mere financial transactions lacking ownership and usage for...

Depreciation on leased asset - in case the said lease rent is assessed under the head ‘income from other sources, then assessee is eligible for depreciation u/s 57(ii) - AT

Depreciation on assets taken on lease - once any asset enters into block asset and claim of depreciation in very first year is allowed, in subsequent year the...

Disallowance of depreciation on motor car - ownership - Merely disclosing an asset as its asset in its books of account will not be sufficient to prove the ownership....

Depreciation on lease buses – Nature of lease – Operating lease OR Finance Lease – merely because depreciation is allowed on the same assets (buses) to M/s. DMRC Ltd....

Claim of depreciation – Concept of block assets - assessee had not used the assets during the year under appeal - there is no evidence of use of assets - claim disallowed - AT

Depreciation on Assets – whether lessor was entitled to depreciation on assets leased by it in finance lease - Held No - lease agreement under consideration was that of...

Quick Updates: