Home Highlights March 2019 Year 2019 This

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1. Disallowing the depreciation for the cars AND interest paid on car loan used by the directors - vehicle held in the name of director of the appellant company - the...

2. Depreciation on car - the assessee is eligible for depreciation on the car purchased by it but registered in the name of the director as the assessee is the beneficial...

3. Depreciation on motor car - car purchased in the names of the Directors of the assessee-company - t the assessee company has, in fact, made the investment in purchase of...

4. 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...

5. Claim of depreciation on motor car registered in the name of the Director and not the company - As the funds for purchase of vehicles have been provided by the assessee...

6. Disallowance of depreciation and expenses in respect of the new car purchased - questioned car was registered in the name of the Director - the assessee company should...

7. Companies (Significant Beneficial Owners) second Amendment Rules, 2019

8. Classification of supply - bundled service or not - right to use of car/two wheeler vehicle parking space along with the sale of under constructed apartments - it is...

9. Depreciation on vehicles - 50% for half year - Cars purchased by the assessee were ready to use as on the date of purchase i.e. prior to 28th September 2011....

10. Availment and setting off of Input tax credit (ITC) - purchases of demo vehicles - car dealer - The demo vehicles are purchased all along for further supply with the...

11. Prohibition of Benami Transactions - Provisional attachment order was confirmed - Who is the beneficial owner of property? - The Tribunal held that while the properties...

12. Denial of exemption u/ss 11 and 12 due to car purchase in trustee's name using funds meant for charitable purposes. Assessee's argument of registering car in managing...

13. Addition being depreciation allowance, interest and insurance expenses relating to vehicles though the assessee was not the owner of such vehicles - The action taken by...

14. Disallowance of depreciation - Vehicles registered in the names of the purchasers and financed by the assessee under a hire purchase agreement - depreciation allowed - HC

15. Depreciation on motor car - though the assessee company was not vested with the legal ownership of the vehicle, but then, it remained the beneficial owner of the same -...