Allowance of depreciation @ 30% on written down value of motor ...

Case Laws Income Tax

December 23, 2017

Allowance of depreciation @ 30% on written down value of motor cars - The security vans are customized, used for transportation of cash and valuables on hire - depreciation is allowable at higher rate - AT

View Source

← Previous Next →

Allowance of depreciation @ 30% on written down value of motor ...

Case Laws Income Tax

December 23, 2017

You may also like:

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...

Disallowance of depreciation on motor car and disallowance on motor car maintenance - even though the personal use of Chevrolet Beat car by the assessee cannot be ruled...

Depreciation allowance at the rate of 30% for the vehicles given on hire denied - It was engaged in the business of hiring trucks and those trucks cannot be treated as...

Depreciation on car purchased in the name of the Director - Depreciation @15% claim has been disallowed as asset could not be said to be of the company - However, AO...

Additions / Higher rate of depreciation @30% on heavy vehicle (Hyva and Tipper) - Main condition for availing of additional depreciation as carved out in the Act is that...

Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

Depreciation on the LPG Cylinders - loaning of the cylinders against security deposit - depreciation allowed - AT

Annual value determination - Estimating the value of the house property - assessee should be granted vacancy allowance.

Income-tax (9th Amendment) Rules, 2019 - Additional depreciation on motor cars and motor vehicles shall be allowed in certain conditions.

Depreciation allowability - determination of WDV - AO is directed to employ the deeming provision for computing the written down value de hors the depreciation granted...

Allowability of depreciation and expenses on motor car maintenance, car insurance and interest paid on car loan - cars were registered in the name of the directors - AO...

SEBI has issued a circular to provide flexibility to Foreign Portfolio Investors (FPIs) in dealing with their securities post-expiry of their registration. Amendments to...

Unabsorbed depreciation is to be added to the account of allowance of depreciation of the next year and as such merges with next year’s depreciation allowance - and...

Providing of cash van service with security guard is covered under ‘cash van service’ and cannot be termed as ‘security services’ as the dominant service is...

Addition made on account of valuation of cars - AO adopted the insurance value as the value of the motor cars for the purpose of computing the net wealth of the assessee...

Quick Updates: