Disallowance of Additional Depreciation u/s 32(1)(iia) - 50 % (@ ...

Tax Case: 50% Depreciation Disallowed u/s 32(1)(iia) for Assets Used Less Than 180 Days.

April 25, 2019

Case Laws Income Tax AT

Disallowance of Additional Depreciation u/s 32(1)(iia) - 50 % (@ 10%) disallowed being used less than 180 days - balance additional depreciation @ 10% on such new plant and machinery will be allowed in immediately succeeding year - insertion of third proviso to Section 32(1) by Finance Act, 2015 w.e.f. 01.04.2016 is clarificatory in nature

View Source

← Previous Next →

Disallowance of Additional Depreciation u/s 32(1)(iia) - 50 % (@ ...

Tax Case: 50% Depreciation Disallowed u/s 32(1)(iia) for Assets Used Less Than 180 Days.

April 25, 2019

Case Laws Income Tax AT

You may also like:

Revision u/s 263 - commission paid to the MD to be disallowed - Even though it has not claimed 100% of the quantum of the value of assets due to the fact that the assets...

Additional depreciation u/s 32(1)(iia) - asset put to use for less than 180 days - remaining 50% of allowable additional depreciation in the subsequent assessment year -...

Allowance of additional depreciation - asset put to use for less than 180 days during the earlier year - assessee has claimed balance of depreciation @10% (i.e. 50% of...

Claim of balance additional depreciation on the assets which were put to use in earlier year - Number of days asset put to use - whether machinery is put to use for less...

The case concerns the retrospective nature of an amendment to u/s 32(1)(ii) by the Finance Act, 2015, relating to additional depreciation on plant or machinery. The...

Depreciation on glow sign boards and oxygen gas cylinders was rejected by the Assessing Officer, holding that the transaction on the last day of the accounting year...

Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...

Carry forward of additional depreciation - Asset put to use for less than 180 days - if plant and machinery is put to use for less than 180 days in the said financial...

Since assets were put to use for less than 180 days, depreciation claimed only 50% of 15% - Balance additional depreciation was claimed by in instant assessment year -...

Additional depreciation on the plant and machinery - 50% of the additional depreciation was only claimed during the first year - the assessee is entitled for additional...

Disallowance of depreciation - The expression "put to use" for 180 days has been wrongly changed by the AO for "6 months" - asset was put to use on or before 30.09.2007,...

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...

Depreciation on new aircraft purchased during the year - Actual use for less than 180 days - The aircraft certainly was not allowed to fly to carry passengers or cargo...

Eligibility for additional depreciation u/s 32(1)(iia) on plant and machineries relating to Seed Division - the instant activity of the assessee is held to be an...

Additional depreciation on diagnostic/service equipments claimed as a deduction u/s. 32(1)(iia) - assessee is eligible for additional depreciation on vaporizers u/s....

Quick Updates: