Claim of depreciation – Concept of block assets - assessee had ...

Depreciation Claim Denied: No Evidence of Asset Usage by Assessee Required for Block Asset Depreciation.

July 22, 2014

Case Laws Income Tax AT

Claim of depreciation – Concept of block assets - assessee had not used the assets during the year under appeal - there is no evidence of use of assets - claim disallowed - AT

View Source

← Previous Next →

Claim of depreciation – Concept of block assets - assessee had ...

Depreciation Claim Denied: No Evidence of Asset Usage by Assessee Required for Block Asset Depreciation.

July 22, 2014

Case Laws Income Tax AT

You may also like:

The assessee, an individual sole proprietor, claimed depreciation on a car registered in her husband's name but funded by her business. While the assessee may be treated...

Claim of assessee for depreciation @ 80% of energy saving devices denied - after the introduction of concept of “block of assets”, the assets loose identity the moment...

Disallowance of depreciation allowance - WDV - plant and machinery were not used during the year due to change in business model - nce an asset is part of the block of...

Disallowance of claim of depreciation on the withholding tax (TDS liability) borne by the assessee, which has been capitalised - There should not be any dispute that the...

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...

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...

Depreciation disallowed on the reason that 4 trademarks have been included in the block of assets are not put to use - in relation to block of assets, it is not possible...

Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill...

Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had...

Depreciation u/s 32 - for claiming higher rate of depreciation, there is no requirement under the Act of usage of the assets by the assessee himself - HC

Depreciation on intangible assets - The above issue could be raised in the AY 2005-06 when the assets entered into the block. Once the assets became part of a block of...

Depreciation on assets taken on lease - once any asset enters into block asset and claim of depreciation in very first year is allowed, in subsequent year the...

Quick Updates: