Home Highlights December 2014 Year 2014 This

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1. Depreciation on Hotel Building including the cost of land - hotel building complex was purchased at consolidated value - Merely because the parties have not specified...

2. Depreciation on hotel building given on lease – Licence fee receivable taxable as business income - depreciation allowed - HC

3. Renting of buildings used for the purpose of accommodation including hotels, meaning thereby renting of a building for a hotel, is covered by the exclusionary clause and...

4. Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

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

6. Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation...

7. Disallowance of depreciation on building improvement - the assessee is not entitled to the claim of depreciation on such improvements to the land and building for more...

8. Depreciation on building - though the assessee might have taken possession of the property on 31.03.2007, there was no possibility for the building to be put to use on...

9. Entitlement for claim of depreciation on tanker – he tanker was not used during the closure of the accounting year – thus, the order of the Tribunal denying the...

10. Renting of immovable property - the definition excludes buildings used for the purpose of accommodation, including hotels. It has not been disputed by the lower...

11. Classification of imported goods - The Tribunal underscored the principle that classification should be determined based on the specific descriptions provided in the...

12. Nature of activity - Renting of Immovable Property Service or not? - It is sharing of profit of the business of the hotel and not a consideration paid for renting of the...

13. Non granting of depreciation on earned tools used for the business - tools and machineries, which are purchased by the assessee, are not eligible for depreciation but...

14. Service of renting of immovable property - Considering the definition of immovable property, the same does not include building used solely for residential purposes and...

15. Commercial or Industrial Construction Services - The hospitals and buildings for medical facilities used by the public cannot be considered as civil construction or...