Allowance of depreciation at 50% - Only because the inauguration ...

Case Laws Income Tax

July 4, 2015

Allowance of depreciation at 50% - Only because the inauguration took place in October, 2007 that cannot be a sole criteria to deny assessee’s claim of depreciation at the full value when there is no material brought on record by the department to show that the plant and machinery and electrical installations were not ready for use prior to 22.10.2007 - AT

View Source

← Previous Next →

Allowance of depreciation at 50% - Only because the inauguration ...

Case Laws Income Tax

July 4, 2015

You may also like:

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...

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

Unabsorbed depreciation is to be added to the account of allowance of depreciation of the next year and as such merges with next year’s depreciation allowance - and...

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

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...

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 -...

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...

Allowance of additional depreciation - asset put to use for less than 180 days during the earlier year - assessee has claimed balance of depreciation @10% (i.e. 50% of...

Eligibility for refund of Service tax - Notification No. 41/2007 - GTA service was rendered during October, 2007 to December, 2007. During the said period, the said...

Unabsorbed depreciation - whether unabsorbed depreciation should be allowed before the allowance of the unabsorbed investment allowance - This scrambled egg cannot be...

Carry forward of investment allowance - unabsorbed depreciation of Amalgamating Company - Section 72A - Claim allowed - HC

Income Tax: Amendment to section 194-IA of Income Tax Act clarifies that for TDS on transfer of immovable property, the consideration shall be aggregate of amounts paid...

Income Tax: To facilitate ease of doing business and reduce compliance burden, it is proposed to amend section 197 to bring section 194Q (tax deduction on purchase of...

Recovery of dues of the erstwhile owners of the property - attachment orders - The transfer took place in the year 2007. No action was taken by the department for nearly...

The ITAT Pune ruled on two key issues: 1) Treatment of subsidy under IPS Scheme 2007 for depreciation calculation - Held that subsidy should not be reduced from actual...

Quick Updates: