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 February 2015 Year 2015 This

Accelerated depreciation at the rate of 50% for new commercial ...


New Commercial Vehicles Acquired in 2009 Eligible for 50% Accelerated Depreciation; No Article 14 Violation Found.

February 19, 2015

Case Laws     Income Tax     HC

Accelerated depreciation at the rate of 50% for new commercial vehicles acquired on or after 1.1.2009, but before the 1.10.2009, and put to use before the 1.10.2009 - There is No violation of fundamental rights of the petitioner under article 14 of the Constitution of India - HC

View Source

 


 

You may also like:

  1. 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...

  2. The vehicle in respect of which assessee seeks to claim depreciation @ 50% is a ‘light motor vehicle’ and therefore the claim for enhanced rate of depreciation is on a...

  3. Depreciation on vehicles - 50% for half year - Cars purchased by the assessee were ready to use as on the date of purchase i.e. prior to 28th September 2011....

  4. Depreciation claim on its commercial vehicle - The tippers used by the assessee in its business are registered under the Motor Vehicles Act, 1988. They met the...

  5. ITAT held that gains from sale of trademarks "Coldarin" and "Raricap" acquired prior to 01/04/1998 qualify as Long Term Capital Gains, not Short Term Capital Gains....

  6. Claim of deduction u/s 35DD or alternatively u/s 32 - acquiring commercial rights - the assessee has not paid any consideration to acquire the Palakollu Bank, the...

  7. Rate of Depreciation on vehicles 15% or 30% - commercial vehicles - There was no evidence to show that the vehicles were used for running them on hire - the assessee is...

  8. Accelerated depreciation - installation of plant and machinery - mproved design of tractors - improvements made thereon based on their own in house R&D efforts -...

  9. Disallowance of additional depreciation - AO is directed to allow the balance 50% depreciation namely 10% of additional depreciation during the year under consideration - AT

  10. Revision u/s 263 - commission paid to the MD to be disallowed - Even though it has not claimed 100% of the quantum of the value of assets due to the fact that the assets...

  11. Disallowance on account of depreciation on intangible assets being value of license acquired from the Indian Railways for running the container trains on Indian Railways...

  12. Nature of non-compete fee capital or not – the commercial right thus acquired by the assessee unambiguously falls in the category of an 'intangible asset' - eligible...

  13. Additional depreciation on the plant and machinery - 50% of the additional depreciation was only claimed during the first year - the assessee is entitled for additional...

  14. Additional depreciation u/s 32(1)(iia) - asset put to use for less than 180 days - remaining 50% of allowable additional depreciation in the subsequent assessment year -...

  15. Computation of Capital gains u/s 50 - deduction of notional depreciation on unused assets - When assets not is use no notional depreciation - Section 50 nowhere...

 

Quick Updates:Latest Updates