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 June 2014 Year 2014 This

Current repairs – assessee cannot claim the benefit of written ...


Court Rules Current Repairs Costs Not Eligible for Depreciation Benefits as Written Down Value.

June 5, 2014

Case Laws     Income Tax     HC

Current repairs – assessee cannot claim the benefit of written down value of the cost of construction which he had incurred under the head Current repairs - HC

View Source

 


 

You may also like:

  1. Depreciation allowability - determination of WDV - AO is directed to employ the deeming provision for computing the written down value de hors the depreciation granted...

  2. 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...

  3. The key points covered in the summary are: Disallowance of deduction u/s 36(1)(vii) for debts written off, as the assessee did not create a provision in the books, which...

  4. The High Court held that the value of free diesel supplied by the service recipient to the Goods Transport Agency (GTA) service provider cannot be included in the...

  5. Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

  6. Claim of benefit of exemption - re-imported air craft engines and parts thereof which were exported for the purposes of repairs/ reconditioning etc. - It is very clear...

  7. The issue pertained to the inclusion of demurrage charges in the assessable value for payment of customs duty under the Customs Valuation (Determination of Value of...

  8. Depreciation on the purchase value of abkari licence - assessee's claim for depreciation at 25% of the actual cost is not allowable because depreciation has to be...

  9. Current Repairs - ‘Nature & Treatment’ of expense

  10. Revenue or capital expenditure - current repairs u/s 31 - overhead expenditure on construction - deductionallowed - AT

  11. Expenditure incurred for modernisation / replacement of machinery is not "current repairs" u/s 31(i) - SC

  12. Disallowance towards ‘Project Development cost written off’ by the assessee - year of deductibility - As the assessee found the project to be lost and decided to write...

  13. The grant received by the assessee towards plant and machinery and technical civil works is required to be reduced from the cost of assets for computing depreciation u/s...

  14. The circular addresses the entitlement of Input Tax Credit (ITC) by insurance companies on repair expenses for motor vehicles in reimbursement mode of claim settlement....

  15. Depreciation on the value of the building as revalued prior to conversion of the erstwhile partnership firm into a private limited company - the prerequisite for...

 

Quick Updates:Latest Updates