Ad-hock disallowance of depreciation - non maintenance of log ...

Depreciation Disallowed: Log Book Needed to Prove Exclusive Business Use of Vehicle Lacking Evidence.

August 26, 2019

Case Laws Income Tax AT

Ad-hock disallowance of depreciation - non maintenance of log book - it was required to demonstrate that the vehicle has been used wholly and exclusively for the business purposes and in the absence of such evidence, it cannot be inferred that the vehicle was not used for personal use - disallowance upheld

View Source

← Previous Next →

Ad-hock disallowance of depreciation - non maintenance of log ...

Depreciation Disallowed: Log Book Needed to Prove Exclusive Business Use of Vehicle Lacking Evidence.

August 26, 2019

Case Laws Income Tax AT

You may also like:

Merely because the car is in the name of director the usage of car for the purpose of business cannot be ruled out. However, the fact remains that when the AO has...

Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation...

Disallowance on account of personal use of vehicle maintenance - 10% of vehicle running and maintenance expenses is a reasonable estimate and in absence of log book - AT

Disallowance of depreciation on motor car - ownership - Merely disclosing an asset as its asset in its books of account will not be sufficient to prove the ownership....

MAT computation u/s 115JB - In this case, the assessee had incurred business loss / depreciation losses as per books in the AYs 1999-00 & 2000-01 & AYs 2011-12 & 2012-13...

Disallowance on account of Vehicle and Telephone expenses - the assessee could not adduce proper evidence in support of Vehicle and Telephone expenses having been...

Depreciation claim on its commercial vehicle - The tippers used by the assessee in its business are registered under the Motor Vehicles Act, 1988. They met the...

Inward supply of motor vehicles used for demonstration purposes in the course of business of supplying motor vehicles cannot be availed as input tax credit on capital...

Depreciation on two wheeler vehicles and Car purchased in the name of directors - beneficial owner of asset - only registration in the name of director is not sufficient...

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 -...

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 made u/s.14A of the Act while computing book profit u/s.115JB - actual expenses debited to profit and loss account which are incurred for the purpose of...

Rate of Depreciation on vehicles 15% or 30% - commercial vehicles - There was no evidence to show that the vehicles were used for running them on hire - the assessee is...

The vehicle in respect of which assessee seeks to claim depreciation @ 50% is a ‘light motor vehicle’ and therefore the claim for enhanced rate of depreciation is on a...

Depreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - entitled to claim depreciation at 100 per cent .... - HC

Quick Updates: