Depreciation claim denied - earlier claim as application of ...

Charitable Trust's Depreciation Claim Denied, Previously Claimed as Income Application u/s 11 of Income Tax Act.

September 7, 2015

Case Laws Income Tax AT

Depreciation claim denied - earlier claim as application of income u/s 11 - depreciation is allowable on capital assets on the income of the charitable trust for determining the quantum of funds which have to be applied for the purpose of trusts in terms of section 11 of the Act. - AT

View Source

← Previous Next →

Depreciation claim denied - earlier claim as application of ...

Charitable Trust's Depreciation Claim Denied, Previously Claimed as Income Application u/s 11 of Income Tax Act.

September 7, 2015

Case Laws Income Tax AT

You may also like:

The ITAT Chennai assessed a trust's income application. The trust argued excess income application, potentially eliminating tax liability despite depreciation claim....

Assessment of trust - claim of depreciation - Exemption u/s 11 - section 32 of the Income-tax Act providing for depreciation for computation of income derived from...

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

The assessee, an individual sole proprietor, claimed depreciation on a car registered in her husband's name but funded by her business. While the assessee may be treated...

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...

Depreciation on assets used in providing services denied being appellant cannot claim depreciation on the same infrastructural facilities on which it has already claimed...

The reopening of assessment u/s 147 cannot be sustained as the exemption u/s 11 was wrongly denied. The notice claimed the petitioner engaged in commercial activities,...

Charitable society claiming exemption u/s 10(23C) - depreciation allowed besides allowing claim on account of application of income - AT

Claim of depreciation - Fresh claim made in the revised ITR - irrespective of the fact of assessee claiming or not, the depreciation shall be allowed while computing the...

Claim of depreciation while claiming exemption u/s 11 - the income of the trust is required to be computed under section 11 on commercial principles after providing for...

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

Correct head of income - rental income - Maintenance charges claimed by the assessee can only be treated as separate source of income and it can be charged as a separate...

Income from pension fund u/s 10(23AAB) - CIT(A) admitted the fresh claim - Claim of exemption when the income is taxable u/s 44 - If the assessee failed to revise its...

Exemption u/s 11 - registration u/s 12A withdrawn - the donee trust will treat the donation as towards its corpus and can only utilise the accruing income from the...

Interest claimed on partners' capital contribution made to chit funds and interest claimed on payment to retired partners' outstanding balance - claim of deduction from...

Quick Updates: