Home Highlights February 2014 Year 2014 This

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1. Depreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - entitled to claim depreciation at 100 per cent .... - HC

2. Demand duty - Imported one consignment of ‘Bed sheet’, declared as made of “100% Polyester” - mis-declaration the goods - The Tribunal observed that, the articles which...

3. Temporary erection which was intended to use for temporary purpose is entitled for 100% depreciation - The department is not correct in saying that the wooden structure...

4. Allowability of depreciation on shuttering material - he assessee was the owner of the shuttering which was ready to use - Assessee is entitled for 100% depreciation - HC

5. Nature of Duty Paid by 100% Export Oriented Units (EOU) - The CESTAT held that while the measure adopted for computing duty paid by 100% EOUs may be based on customs...

6. The case involves classification of imported goods, specifically bed sheets declared as made of 100% polyester. The revenue authority classified the consignment as...

7. Depreciation on machinery and equipments - Depreciation @ 25% or 100% - Even before this Court, learned counsel for the Assessee was unable to demonstrate why the...

8. The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled on the classification of imported bed sheets declared as made of 100% polyester. The key points...

9. Higher rate of Depreciation on co-generation plant - The assessee is entitled for a higher rate of depreciation in the case of RCC Chimney, Bagasee Drier, DC Drier,...

10. Bed sheets imported were correctly classified under CTH 6304 as bed spreads/bed sheets, despite being made of 100% polyester yarn. Although woven fabric of synthetic...

11. Entitled for exemption u/s 47(v) with respect to the transfer of land - Holding company - determination of 100% subsidiary company where 25 shares held by 6 nominees -...

12. The High Court held that the order u/s 263 made no reference to the issue of depreciation, and the Tribunal had correctly answered the question by stating that the...

13. The High Court dismissed the appeal filed by the assessing officer against the order of the Income Tax Appellate Tribunal, holding that no substantial question of law...

14. Restriction of deduction u/s 10B – 100% Export Oriented Unit (EOU) - assessee will not be entitled for exemption u/s 10B in respect of turnover sold to 100% EOU in India - AT

15. Assessee is entitled for 100% depreciation in respect of vinyl flooring, false ceiling, glass and wooden partitioning, electrical wiring, Net work cabling etc., in the...