No infirmity in the order of AO in treating the entire loan ...

Loan Processing Fee Deemed Capital; Depreciation Allowed by Adding Fee to Asset Cost, Says AO Order.

March 11, 2015

Case Laws Income Tax AT

No infirmity in the order of AO in treating the entire loan processing fee paid for obtaining loan from bank being capital in nature. The assessee however, would be entitled to claim depreciation by capitalizing this figure with the cost of asset acquired by it - AT

View Source

← Previous Next →

No infirmity in the order of AO in treating the entire loan ...

Loan Processing Fee Deemed Capital; Depreciation Allowed by Adding Fee to Asset Cost, Says AO Order.

March 11, 2015

Case Laws Income Tax AT

You may also like:

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...

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...

Claim of depreciation - capitalisation being pre-commencement rent and other expenditure incurred - Section 32 of the Act allows depreciation on actual cost of the...

Depreciation on assets – Application of funds – Depreciation is allowed on cost of assets which have been fully allowed as application of income u/s 11 - AT

The ITAT held that: The department cannot challenge the validity of the sanctioned scheme at the implementation stage as the scheme attains statutory force binding on...

Computing the capital gain on sale of assets - WDV of depreciable assets - Exemption u/s 11 - the assessee has partly claimed the depreciation on this asset and when the...

Premium for hedging foreign exchange fluctuations on loans - capital expenditure u/s 43A - depreciation claim - It cannot be said that the loan borrowed in Foreign...

Depreciation on license fee paid for 20 years - intangible asset - deferred revenue expenditure - benefit of depreciation on the registration fee of paid to Indian...

Depreciation on the capitalised sum of non - compete fees - as non compete fee is not an asset, depreciation cannot be allowed - AT

Depreciation on the LPG Cylinders - loaning of the cylinders against security deposit - depreciation allowed - AT

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...

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

The Assessing Officer disallowed depreciation claimed on Plant & Machinery to the extent of the External Commercial Borrowing (ECB) amount waived off during the previous...

Rate of depreciation on intangible asset of licence for running container trains - commercial rights for 20 years - such rights would amount to capital asset - claim of...

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...

Quick Updates: