Home Highlights September 2013 Year 2013 This

You may also like:

1. Depreciation on centering and shuttering material - each item of shuttering material cannot be treated as one whole the shuttering material forming one plant eligible...

2. Depreciation on vehicles - 50% for half year - Cars purchased by the assessee were ready to use as on the date of purchase i.e. prior to 28th September 2011....

3. Allowability of depreciation on the value of goodwill – CIT(A) is not justified in denying the benefit of depreciation claimed by the assessee on the ‘goodwill’ - AT

4. Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

5. Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

6. Entitlement to claim 100% depreciation on the centering/shuttering material - poles used in shuttering/ centring work would also be plant no matter that they cannot be...

7. The assessee was treated as deem owner for the limited purpose of claiming of depreciation. As such, assessee-company never became the owner of the land and building....

8. Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill...

9. Additional depreciation on Ready Mix Concrete [RMC] - assessee is not entitled for additional depreciation in respect of machinery used since production of ready mix...

10. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

11. Depreciation u/s 32 – Plant ready for used but not used in actual due to unavailability of raw-material – business was a going concern and the machinery could not be...

12. Area based exemption - Ready Mix Concrete - it is clear that the assessee’s product i.e. Ready Mix Concrete (RMC) is not eligible for exemption - However, there is...

13. Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

14. Depreciation disallowance on the power plant in respect of newly installed building, plant and machinery comprising of a captive thermal power plant which was not put to...

15. Validity of reassessment proceedings challenged - capital gain on co-owned land sale - reassessment based on DVO report alleging suppression of lower valuation - reasons...