Home Highlights November 2016 Year 2016 This

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1. Revision u/s 263 by CIT - claim of higher depreciation at the rate of 30% on vehicles - Even in the 263 proceedings before Ld. Pr. CIT and in the proceedings before us,...

2. Depreciation on apple ipad - at the general rate of 15% OR 60% - whether the iPad falls in the definition of computer or mobile phone? - in case the assessee wishes to...

3. 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...

4. Higher rate of Deprecation on vehicles - the assessee that the assessee is eligible for higher rate of depreciation at the rate of 30%. Merely because the invoices...

5. 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...

6. Depreciation on P&M claim at lessor rate than eligible – Assessee wrongly claim depreciation at lessor rate in 3CD - As per the provision of sec. 32(1) & 32 (1) (i)...

7. This circular clarifies the scope of regularization on an "as is" or "as is, where is" basis mentioned in previous GST circulars issued based on GST Council...

8. Higher rate of depreciation - machinery is put on hire in the business - the assessee has not shown any hire charges in respect of heavy earth moving machineries used by...

9. Depreciation on boiler - CIT (A) has not committed any error in allowing depreciation at the correct rate even though the assessee had claimed depreciation at a lesser...

10. Higher rate of depreciation - Depreciation on business of civil contract @30% or 15% - in the case of assessee’s own business, the wear and tear is lesser than the...

11. Depreciation u/s 32 - for claiming higher rate of depreciation, there is no requirement under the Act of usage of the assets by the assessee himself - HC

12. Higher rate of depreciation - assessee has proved that it has used the security vans for transportation of cash valuables etc. - claim depreciation @40% on security vans...

13. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

14. The assessee, after being amalgamated with another company, treated the excess consideration paid over the net assets acquired as goodwill and claimed depreciation at...

15. Eligibility of higher rate depreciation on truck chassis fixed with transit mixture - vehicle used for hire - no evidence that assessee has earned any receipt towards...