Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Depreciation - Once the boiler was already used, it cannot be ...


Boiler Deemed Ready for Use: Taxpayer's Claim on Boiler Depreciation Accepted, Qualifying for Tax Benefits.

March 8, 2014

Case Laws     Income Tax     AT

Depreciation - Once the boiler was already used, it cannot be said that it was not ready for use - Passive use of the boiler, argument by the assessee has to be accepted - AT

View Source

 


 

You may also like:

  1. 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 -...

  2. Depreciation on boiler - CIT (A) has not committed any error in allowing depreciation at the correct rate even though the assessee had claimed depreciation at a lesser...

  3. Disallowance of Depreciation claimed on the machineries purchased at the end of the year - It is quite evident the machines were not only installed but ready to use as...

  4. ITAT affirmed CIT(A)'s directive to grant TDS credit per Form 26AS despite taxpayer's initial failure to claim full credit in tax return due to software technical issues....

  5. Excess claim of depreciation on boilers - The finding of the ld.CIT(A) is not based on correct appreciation of the material facts, rather the ld.CIT(A) has misconstrued...

  6. Deduction u/s 80 IB - depreciation has to be claimed and the resultant profits arrived at after claiming depreciation will alone qualify for deduction under section 80IA...

  7. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

  8. Rectification of mistake u/s 254 - Depreciation on the non-compete fee denied - CIT(A) allowed the claim - ITAT rejected the claim - Whether AO has accepted the claim of...

  9. Depreciation on boiler leased by the assessee - AO termed this as a colourable device to avoid tax - ITAT allowed claim - If it was not a bona fide business transaction,...

  10. Claim of terminal depreciation - assessee had in fact claimed depreciation as contemplated under section 32 merely because it was termed as "terminal depreciation" was...

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

  12. 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...

  13. Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and...

  14. Tax authority rejected rectification application filed by taxpayer for zero-rated supply citing violation of principles of natural justice. Court examined impugned...

  15. Refund of CGST & SGST wrongly paid - Interpretation of the term “subsequently held” - the term “subsequently held” in section 77 of CGST Act, 2017 or under section 19 of...

 

Quick Updates:Latest Updates