Benefit of depreciation - vehicles leased out - As the owner, it ...

Case Laws Income Tax

January 4, 2017

Benefit of depreciation - vehicles leased out - As the owner, it used the assets in the course of its business, satisfying both requirements of Section 32 of the Act and hence, is entitled to claim depreciation in respect of additions made to the trucks, which were leased out. - HC

View Source

← Previous Next →

Benefit of depreciation - vehicles leased out - As the owner, it ...

Case Laws Income Tax

January 4, 2017

You may also like:

Disallowance of depreciation on leased assets - As the owner, it used the assets in the course of its business, satisfying both requirements of Section 32 of the Act and...

Disallowance of depreciation - Finance lease - on a combined reading of Section 2(13) and Section 2(24) the income derived from leasing of the trucks would be business...

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation...

Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

Inward supply of motor vehicles used for demonstration purposes in the course of business of supplying motor vehicles cannot be availed as input tax credit on capital...

Disallowance of depreciation - no business activity was carried out by the assessee company - The use of individual asset for the purpose of business may be examined...

Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

Depreciation disallowed on the reason that 4 trademarks have been included in the block of assets are not put to use - in relation to block of assets, it is not possible...

Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

Depreciation on two wheeler vehicles and Car purchased in the name of directors - beneficial owner of asset - only registration in the name of director is not sufficient...

Disallowance of depreciation on new Honda City car - The Tribunal observed that the appellant had purchased the vehicle and got it insured on 30.09.2009, which was...

Depreciation claim on its commercial vehicle - The tippers used by the assessee in its business are registered under the Motor Vehicles Act, 1988. They met the...

Disallowance of depreciation on assets acquired and leased back - On a combined reading of Section 2(13) and Section 2(24) the income derived from leasing of the trucks...

Depreciation on boiler leased back - ownership of the impugned asset was with the assessee and the same was used for the purpose of business of leasing carried on by the...

Quick Updates: