Whether the machinery purchased under the Textiles Upgradation ...

Higher Depreciation Rate of 50% for Machinery under TUFS Used for Embroidery in Textile Industry.

October 18, 2013

Case Laws Income Tax HC

Whether the machinery purchased under the Textiles Upgradation Fund Scheme (TUFS) and used for embroidery on unembroidered cloth used in textile industry are eligible for higher depreciation of 50% - Held yes - HC

View Source

← Previous Next →

Whether the machinery purchased under the Textiles Upgradation ...

Higher Depreciation Rate of 50% for Machinery under TUFS Used for Embroidery in Textile Industry.

October 18, 2013

Case Laws Income Tax HC

You may also like:

Disallowance of depreciation - asset ready to use VS put to use - the use of the plant and machinery depended upon the operation of the furnace which was not put to use...

Higher rate of depreciation - machinery is put on hire in the business - the assessee has not shown any hire charges in respect of heavy earth moving machineries used by...

Additional depreciation on the plant and machinery - 50% of the additional depreciation was only claimed during the first year - the assessee is entitled for additional...

Effective rate of basic duty of customs under chapters 50 to 63 on textile products - Notification

Eligibility of higher rate depreciation on truck chassis fixed with transit mixture - vehicle used for hire - no evidence that assessee has earned any receipt towards...

Depreciation on vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

Assessee is entitled for depreciation on dumpers and pay loaders at the higher rate - AT

Higher rate of depreciation - The appellant's argument that since ‘main machinery' used by it is 'injection moulding machine', all the items should qualify for...

Depreciation on electrical installation - rate of depreciation - electrical installation is integral to the plant and machinery used for manufacturing steel - CIT(A) has...

Disallowance of depreciation of plant and machinery - even assuming for a moment, the asset was not put to use in the business of the assessee, but when the plant and...

Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has...

Higher rate of depreciation - Depreciation on business of civil contract @30% or 15% - in the case of assessee’s own business, the wear and tear is lesser than the...

Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...

Additional depreciation u/s 32(1)(iia) - asset put to use for less than 180 days - remaining 50% of allowable additional depreciation in the subsequent assessment year -...

Computation of Capital gains u/s 50 - deduction of notional depreciation on unused assets - When assets not is use no notional depreciation - Section 50 nowhere...

Quick Updates: