Depreciation on leased assets u/s 32 - In the instant case, the ...

Revenue Must Consistently Apply Depreciation Claims for Leased Assets u/s 32 for 2002-05 Tax Years.

December 9, 2020

Case Laws Income Tax HC

Depreciation on leased assets u/s 32 - In the instant case, the revenue has accepted the claim of the assessee for depreciation under Section 32 of the Act for the Assessment Year 2002-03 and 2003-04. Therefore, the revenue cannot be allowed to take a different stand for the Assessment Year 2004-05 - HC

View Source

← Previous Next →

Depreciation on leased assets u/s 32 - In the instant case, the ...

Revenue Must Consistently Apply Depreciation Claims for Leased Assets u/s 32 for 2002-05 Tax Years.

December 9, 2020

Case Laws Income Tax HC

You may also like:

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

Assessee entitled to claim depreciation on leased assets despite revenue's contention that transactions were mere financial transactions lacking ownership and usage for...

Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has...

Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

Depreciation on assets taken on lease - once any asset enters into block asset and claim of depreciation in very first year is allowed, in subsequent year the...

Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in...

Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

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...

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...

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

The assessee, after being amalgamated with another company, treated the excess consideration paid over the net assets acquired as goodwill and claimed depreciation at...

Depreciation on intangibles - Whether 5th proviso to Section 32(1) of the Act restricts the total depreciation which can be claimed in case of succession etc. to the...

Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

Quick Updates: