Depreciation on Innova car - car having been purchased from the ...

Case Laws Income Tax

March 5, 2020

Depreciation on Innova car - car having been purchased from the company’s fund though in the name of the Director and expenses as to its maintenance and running have been duly charged to the account which are audited one and have been duly accepted, disallowance made by the AO and confirmed by the ld. CIT (A) is not sustainable - AT

View Source

← Previous Next →

Depreciation on Innova car - car having been purchased from the ...

Case Laws Income Tax

March 5, 2020

You may also like:

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...

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...

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...

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...

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...

Capital gain computation - real owner of asset - the land was purchased in the individual name of the assessee, and not as director of the company. Funds for the purpose...

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...

Restoration of name of the Company in the Register of Companies - The Registrar of Companies, the respondent herein, is ordered to restore the original status of the...

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...

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...

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...

Penalty invoking the provisions of section 271D - Managing Director of the assessee company had extended cash to the company - loan or deposits u/s 269SS - By invoking...

Disallowance of depreciation on car and expenses related to cars which were registered in the name of the directors - the dominion ownership of the car rest with the...

Seeking restoration of (struck off) name of company in the Register of Companies - Considering the fact that the company was having two directors with 50% shareholding...

The company failed to file financial statements and annual returns for five financial years from 2014 to 2018. Despite having assets worth Rs. 3 crores as of 2008, the...

Quick Updates: