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 October 2015 Year 2015 This

Depreciation on the closed units for last 8 years - although the ...


Depreciation Claims Approved for Closed Units Over Eight Years Despite Production Halt Due to Ongoing Activities.

October 7, 2015

Case Laws     Income Tax     AT

Depreciation on the closed units for last 8 years - although the production is suspended but the other activities of the units are being carried out - claim of depreciation allowed - AT

View Source

 


 

You may also like:

  1. Carry forward the unabsorbed depreciation beyond eight years - The interregnum restriction of limiting the claim for an eight-year period does not take away the right of...

  2. Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

  3. The assessee's claim for deduction u/s 80IC for the finished products manufactured at Unit No. III at Paonta Sahib, Himachal Pradesh, was initially allowed but later...

  4. Depreciation - During the year the entire unit was not put to use - The said block of assets was used for the purpose of business during the year. Under the...

  5. Unabsorbed depreciation claimed u/s 32(2) - Claim beyond the period of eight years - the assessee is entitled to avail of the unabsorbed depreciation beyond the period...

  6. Excess work in progress detected during survey was accepted by assessee as income u/s 69B, taxable at 30%. Assessee claimed such income as part of closing stock to be...

  7. Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in...

  8. Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

  9. Once the unabsorbed carried forward depreciation has become a part of the depreciation of the current year, it is not open to the assessee to bifurcate the two again and...

  10. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

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

  12. Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has...

  13. Area based exemption - The attempt to set up the Unit-II as a separate Unit on first floor of the Unit-I appears to be an attempt by the appellant company to enjoy the...

  14. How long should a Bank keep records - Violation of the provisions of the FERA - Undisputedly, no such order has been placed on record which required the...

  15. Disallowance of deduction claimed u/s 10AA after claiming deduction / exemption u/s 10A - SEZ unit - As on the commencement of assessment year 2006-07, which is the...

 

Quick Updates:Latest Updates