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 July 2017 Year 2017 This

Depreciation on boiler - CIT (A) has not committed any error in ...


Income Tax Appeals Commissioner Approves Correct Depreciation Rate for Boiler, Overriding Lower Initial Claim by Assessee.

July 31, 2017

Case Laws     Income Tax     AT

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 rate in the return filed.

View Source

 


 

You may also like:

  1. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  2. Deemed divided u/s 2(22)(e) requires arriving at accumulated profits by deducting depreciation as per Income-tax Act rates. Bombay High Court in Navnit Lal C Javeri and...

  3. Rates of Income Tax, TDS, TCS, and Depreciation etc. as amended.

  4. Denial of benefit of lower 22% tax rate u/s 115BAA due to delay in filing Form 10-IC by petitioner. Petitioner filed return of income in ITR-6 form, exercising option...

  5. 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...

  6. 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...

  7. Excess claim of depreciation on boilers - The finding of the ld.CIT(A) is not based on correct appreciation of the material facts, rather the ld.CIT(A) has misconstrued...

  8. Discretionary trust liable to pay tax at maximum marginal rate, including highest slab rate of income tax and surcharge applicable to individuals. Section 2(29C)...

  9. Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

  10. The Income Tax Appellate Tribunal (ITAT) held that the assessee is entitled to the concessional tax rate of 10% on royalty income u/s 115BBF, as the assessee had...

  11. Categorization of income - Undisclosed income surrendered during survey - Charging of tax rate u/s. 115BBE - CIT(A) granted relief to the assessee by charging income at...

  12. Reforms in Tax Rates - tax rates of the major countries of Asia

  13. Higher rate of tax @60% u/s 115BBE - though the alleged surrendered income is a business income but since assessee being individual having no limitation of earning...

  14. Rate of tax on Interest Income - how the tax rate of non resident companies in their respective countries will be applied on this interest income earned by the assessee...

  15. Grant of certificates for TDS at lower rates or no TDS - Certificate for collection of tax (TCS) at lower rates - Substantial amendment in the Rules

 

Quick Updates:Latest Updates