Home Highlights July 2012 Year 2012 This

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1. Depreciation on roads in the category of plant and machinery - whether roads developed and maintained by the assessee by agreement with the Government on the...

2. Classification of Bypass Toll Road – Building or Plant - the toll road would not qualify as a ‘plant’ so as to entitle the assessee a higher rate of depreciation - HC

3. Revision u/s 263 by CIT - Depreciation on road and toll bridge constructed by the assessee - Tribunal has erred in concluding that the Assessing Officer has taken one of...

4. Higher rate of depreciation - machinery is put on hire in the business - the assessee has not shown any hire charges in respect of heavy earth moving machineries used by...

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

6. Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had...

7. The Gotanagar truck terminus is a plant and not building, for the purpose of claiming depreciation under section 32 read with section 43 of the Income-tax Act....

8. Building includes roads laid in the proximity of factory for the purpose of providing access to factory and other buildings within compound and they are entitled to...

9. Depreciation on machinery and equipments - Depreciation @ 25% or 100% - Even before this Court, learned counsel for the Assessee was unable to demonstrate why the...

10. Depreciation on golf course - @ 25% under the category of plant machinery OR 10% as allowable in the case of building which includes golf course - AO could not get an...

11. Roads and boundaries, railway sidings, jetty pire, bouys, mooring and navigation structure can be considered as plant and machinery for the purpose of granting of...

12. The Appellate Tribunal held that the right to collect toll in a BOT project constitutes an intangible asset, allowing for depreciation u/s 32(1)(ii) of the Act. Citing a...

13. Depreciation on water supply scheme as well as for ‘road’ - AO directed to allow the assessee’s claim for 100% depreciation on water supply system and AO’s order...

14. Depreciation on Electric Installation used in factory premises to operate various Machinery & Equipments in manufacturing of POY and polyester chips - electrical...

15. Rate of depreciation on golf-course - “building” OR “plant and machinery” - the golf course is a plant on which assessee is entitled to the depreciation at the rate of...