Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Claim of depreciation, interest and maintenance expenses for the ...

Case Laws     Income Tax

September 27, 2019

Claim of depreciation, interest and maintenance expenses for the BMW car - Assessee has not established that it is owner of the impugned Car and the car was used wholly and exclusively for the purposes of its business - additions confirmed - AT

View Source

 


 

You may also like:

  1. Adhoc disallowance made on account of expenses under the heard vehicle maintenance, interest on car loan, telephone expenses, travelling expenses and depreciation on car...

  2. Addition under the head of Vehicle Running Expenses and Repairs & Maintenance - "exaggerated expense' or "not reasonable expense". - The onus is on the Revenue to...

  3. 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...

  4. 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...

  5. Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

  6. 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...

  7. 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...

  8. Disallowance of depreciation on Car - Although, the assessee could have made efforts to obtain a copy of the purchase invoice from the hypothecating bank and produced it...

  9. Disallowance of depreciation on cars given on lease - no depreciation is claimed by the lessee on these leased cars - assessee company has rightly claimed the...

  10. Income earned by a housing cooperative society from interest on fixed deposits and rental income is eligible for set-off against maintenance expenses. The interest...

  11. Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

  12. The assessee, engaged in the business of shares and securities, claimed administration expenses, including Portfolio Management Service (PMS) expenses, against capital...

  13. Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

  14. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  15. Disallowance of interest expenses incurred for non-business purposes - The ITAT found that the interest expenditure claimed by the assessee was allowable due to the...

 

Quick Updates:Latest Updates