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 May 2015 Year 2015 This

Depreciation u/s 32 - ownership - The individual Directors have ...

Case Laws     Income Tax

May 11, 2015

Depreciation u/s 32 - ownership - The individual Directors have acquired the property in their names and the transfer of the property into the account books of the assessee company is merely by way of a book entry supported by the resolution of the Board of Directors - no depreciation - AT

View Source

 


 

You may also like:

  1. Disallowing the depreciation for the cars AND interest paid on car loan used by the directors - vehicle held in the name of director of the appellant company - the...

  2. The case pertains to the applicability of Section 56(2)(x) of the Income Tax Act on the conversion of tenancy rights into ownership rights by a protected tenant. The key...

  3. Depreciation on let out properties u/s 32 - use of properties for the purposes of business of the assessee. - no deprecation u/s 32 can be allowed on these two...

  4. Depreciation on two wheeler vehicles and Car purchased in the name of directors - beneficial owner of asset - only registration in the name of director is not sufficient...

  5. The assessee is eligible for the claim of depreciation u/s 32(1)(ii) on the amount of intangible assets acquired by it as per Business Transfer Agreement - AT

  6. Capital gain in respect of sale of only one property - addition u/s 50C - assessee itself had leasehold rights in the said property and hence in instant facts, the...

  7. Exemption from payment of property tax under the provisions of the UP Municipal Corporation Adhiniyam, 1959 - The Supreme Court held that, the enemy properties vest in...

  8. Depreciation on goodwill - business or commercial rights acquired - goodwill is an asset under Explanation 3(b) to section 32(1) - the depreciation allowed even on the...

  9. Depreciation on Goodwill - appellant had acquired the business undertaking on a going concern basis - goodwill acquired upon acquiring the business which is nothing but...

  10. The case pertains to the levy of service tax under the reverse charge mechanism (RCM) on rental payments made by a company to its directors for renting immovable...

  11. Computation of capital gains - transfer of property when sold in 2004 but registered only during the year 2008 - CIT(A) has observed that the assessee’s name in the deed...

  12. Deprecation u/s 32 on goodwill - Depreciation could not be denied to the Taxpayer merely for the reason that the assets were classified as ‘goodwill’ in the books of...

  13. Computing capital gains u/s 50 - though the vesting of the title is mandatorily required for claim of depreciation u/s 32 - de hors ownership of an asset, is not...

  14. Specified intangible assets acquired under slump sale agreement were in the nature of “business or commercial rights of similar nature” specified in Section 32(1)(ii)...

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

 

Quick Updates:Latest Updates