LTCG - Just by mentioning in block of asset that too with Zero ...

Case Laws Income Tax

August 26, 2017

LTCG - Just by mentioning in block of asset that too with Zero depreciation rate should not change nature of the asset. Ultimately the facts remain that no benefit of Depreciation is claimed and the asset is held for more than 3 years then the same should be treated as Long term capital and the gain on sale of such asset should be treated as Long term capital gains.

View Source

← Previous Next →

LTCG - Just by mentioning in block of asset that too with Zero ...

Case Laws Income Tax

August 26, 2017

You may also like:

Disallowance of depreciation allowance - WDV - plant and machinery were not used during the year due to change in business model - nce an asset is part of the block of...

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...

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...

Depreciation on intangible assets - The above issue could be raised in the AY 2005-06 when the assets entered into the block. Once the assets became part of a block of...

Claim of assessee for depreciation @ 80% of energy saving devices denied - after the introduction of concept of “block of assets”, the assets loose identity the moment...

Depreciation on goodwill - zero asset shown in the books - The contention of the Ld. DR that it has zero asset shown in the books of CRAZY NETWORK appears to be...

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...

Disallowance of claim of depreciation on the withholding tax (TDS liability) borne by the assessee, which has been capitalised - There should not be any dispute that the...

Capital gain on asset sold - LTCG OR STCG - period of holding - merely because there is a change in the nature of immovable property, the principles of determining date...

Rate of depreciation on ‘film software library' - the asset which consists of ‘Copyrighted Films and Programmes’ is an ‘Intangible Asset’ eligible for depreciation at...

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 vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

Deprecation u/s 32 on goodwill - Depreciation could not be denied to the Taxpayer merely for the reason that the assets were classified as ‘goodwill’ in the books of...

Depreciation - when the depreciation is allowed on the block of assets, Revenue cannot segregate a particular asset therefrom on the ground that it was not put to use - AT

Depreciation on Electrical Fittings – 15% or 25% - once a particular depreciable asset enters the block it losses its identity and it is not possible to apply the new...

Quick Updates: