Home Highlights May 2016 Year 2016 This

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1. 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...

2. Since assets were put to use for less than 180 days, depreciation claimed only 50% of 15% - Balance additional depreciation was claimed by in instant assessment year -...

3. 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 -...

4. Disallowance on additional deprecation claimed as plant and machinery other than milk can equipments - The extra depreciation allowable u/s 32{1) (iia) in an extra...

5. Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...

6. Disallowance of Additional Depreciation u/s 32(1)(iia) - 50 % (@ 10%) disallowed being used less than 180 days - balance additional depreciation @ 10% on such new plant...

7. The assessee is entitled to claim additional depreciation u/s 32(1)(iia) on electrical items forming part of plant and machinery, even if not engaged in manufacture or...

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

9. Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

10. 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...

11. Additional depreciation - business of manufacture of cold drinks - the assessee is legally entitled to avail the benefit of additional depreciation under Section...

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

13. 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...

14. Assessee had claimed depreciation on carats @ 100%, however, AO allowed @ 50% - Depreciation on carats as claimed by the assessee is allowed - AT

15. Depreciation - plant and machinery could not be used during the year due to shifting / relocation of plant - Though, the unit could not generate revenue during the year...