Depreciation on Quarry Land & Development - AO disallowed the ...

Case Laws Income Tax

September 6, 2017

Depreciation on Quarry Land & Development - AO disallowed the claim of deprecation as, there is no block for such asset in the Income Tax Act to claim depreciation U/s 32 - CIT(A) has allowed the depreciation correctly.

View Source

← Previous Next →

Depreciation on Quarry Land & Development - AO disallowed the ...

Case Laws Income Tax

September 6, 2017

You may also like:

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 -...

Depreciation on assets taken on lease - once any asset enters into block asset and claim of depreciation in very first year is allowed, in subsequent year the...

Depreciation @ 10% on landscaping & development charges which is capitalized in nature of land allowed - AT

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...

Claim of terminal depreciation - assessee had in fact claimed depreciation as contemplated under section 32 merely because it was termed as "terminal depreciation" was...

Offshore unit in Dubai treated as proprietary concern, profits taxable in assessee's hands. AO's addition disallowed based on ITAT's consistent rulings favoring assessee....

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...

Claim of depreciation – Concept of block assets - assessee had not used the assets during the year under appeal - there is no evidence of use of assets - claim disallowed - AT

Disallowance of depreciation is use of BMW car by the director of assessee - The car in question was a business asset and depreciation had to be allowed on the same. The...

Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in...

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 on landed property - disallow depreciation on land cost and added back to the total income - The ITAT held that Depreciation on landed property is not...

Depreciation on Hotel Building including the cost of land - hotel building complex was purchased at consolidated value - Merely because the parties have not specified...

Deduction u/s 80IAB on the disallowance of depreciation on Water-use Rights (Intangibles Asset) - The Tribunal acknowledged the payment made by the assessee for...

Disallowance on account of depreciation on goodwill - Scheme of Amalagamation adopted - the 5th proviso was inserted in order to prevent double claim of the depreciation...

Quick Updates: