Depreciation - fleet of cars which was kept ready for use - ...

Case Laws Income Tax

July 1, 2014

Depreciation - fleet of cars which was kept ready for use - disallowance on account of personal use of the car could have been made to some extent on estimated basis but not the entire depreciation - 25% disallowed - AT

View Source

← Previous Next →

Depreciation - fleet of cars which was kept ready for use - ...

Case Laws Income Tax

July 1, 2014

You may also like:

Adhoc disallowance made on account of expenses under the heard vehicle maintenance, interest on car loan, telephone expenses, travelling expenses and depreciation on car...

Disallowance of depreciation on car - use of car for personal purposes - it is for the AO to bring on record to suggest use of asset for personal purpose. In this case,...

Disallowance of depreciation on motor car and disallowance on motor car maintenance - even though the personal use of Chevrolet Beat car by the assessee cannot be ruled...

Disallowance of depreciation is use of BMW car by the director of assessee - The car in question was a business asset and depreciation had to be allowed on the same. The...

Disallowance of depreciation on the car purchased by the assessee - Proprietorship firm - Merely because assessee has made payment for purchase of car from his personal...

Disallowance of depreciation on cars given on lease - no depreciation is claimed by the lessee on these leased cars - assessee company has rightly claimed the...

The ITAT considered a case where the PCIT initiated revision u/s 263 regarding capital loss claimed on the sale of a car. The question was whether a motor car used for...

Disallowance of depreciation on car and expenses related to cars which were registered in the name of the directors - the dominion ownership of the car rest with the...

Disallowance of depreciation on Car - Although, the assessee could have made efforts to obtain a copy of the purchase invoice from the hypothecating bank and produced it...

Depreciation on car purchased in the name of the Director - Depreciation @15% claim has been disallowed as asset could not be said to be of the company - However, AO...

Depreciation on imported cars - amalgamation / merger - Respondent assessee had acquired the asset i.e. imported cars after the cut off date i.e. 1st April, 2001 and,...

The ruling addressed the eligibility of Input Tax Credit (ITC) for cars used for demonstration purposes. It was held that demo cars can be eligible for ITC if certain...

Disallowance of car hire charges - personal expenditure or not - when the assessee is having a subsidiary companies in Chennai and some of the Directors are residing at...

Disallowance depreciation on car - There could be no disallowance u/s. 38(2) of the Act in respect of the depreciation on motor car, a tangible asset, covered u/s...

Depreciation on Innova car - car having been purchased from the company’s fund though in the name of the Director and expenses as to its maintenance and running have...

Quick Updates: