Claim of assessee for depreciation @ 80% of energy saving ...

Case Laws Income Tax

August 6, 2015

Claim of assessee for depreciation @ 80% of energy saving devices denied - after the introduction of concept of “block of assets”, the assets loose identity the moment they enter the block and therefore the rate of depreciation of a particular item of depreciable asset cannot be tampered with in a subsequent assessment year - AT

View Source

← Previous Next →

Claim of assessee for depreciation @ 80% of energy saving ...

Case Laws Income Tax

August 6, 2015

You may also like:

Depreciation on Set Top Boxes (STB) - @80% OR 15% - STB’s are energy saving devices OR electrical equipment - Set Top Box is a device connected to a TV and which allows...

The contention of the assessee that the UPS is an energy saving device, therefore, depreciation @ 80% should be granted cannot be accepted - AT

Disallowance of depreciation on account of energy saving and pollution control devices - AO has not disputed the fact that the devices were installed. The level of...

The copy of certificate of the engineer of vendor is not sufficient to allow the claim of assessee at higher rate of 80% - assessee has failed to furnish the product...

Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

Additional depreciation on energy meters @80% - in the first round of proceeding ITAT direct AO to allow depreciation @ 80% after verification - AO again disallow...

Depreciation on energy saving devices - as depreciation claimed by assessee is in terms with the statutory provisions, AO was not justified in interfering with the same. - AT

Exemption u/s 80-IC - Claim denied as no work was carried at the Baddi Unit - There is no concrete material on record which would suggest that the assessee’s claim was...

Deduction u/s 80 IB - depreciation has to be claimed and the resultant profits arrived at after claiming depreciation will alone qualify for deduction under section 80IA...

Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

Excess rate of depreciation - energy saving devices – scope the term 'before due date' - When the time of filing the return is available to the assessee till the last...

Deduction u/s. 80-IA - Claim denied as return of income was not accompanied by the mandatory audit report as prescribed in Form No.10CCB - assessee has filed an audit...

Claim of terminal depreciation - assessee had in fact claimed depreciation as contemplated under section 32 merely because it was termed as "terminal depreciation" was...

Higher rate of Depreciation - CIT(A) allowed depreciation @ 80% for the reason that the assessee has not restricted the depreciation on Cylinders, Valves and regulars,...

Higher claim of depreciation on Windmill – if the electrical works are specially designed devices to suit the need of windmills, then only the assessee is entitled for...

Quick Updates: