Additional depreciation u/s. 32(1)(iia) on block of assets like ...

Case Laws Income Tax

December 18, 2021

Additional depreciation u/s. 32(1)(iia) on block of assets like Computers and Software - Assets eligible for additional depreciation must be plant or machinery. Also that such plant or machinery should not be installed in any office premises or residential accommodation. We note that the development activity carried on by the assessee cannot be considered to be a manufacturing activity. - However, the alternative plea to allow the deprecation in the subsequent assessment year on the enhanced WDV of block of assets at the prevailing rates cannot be denied. - AT

View Source

← Previous Next →

Additional depreciation u/s. 32(1)(iia) on block of assets like ...

Case Laws Income Tax

December 18, 2021

You may also like:

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...

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....

Additional depreciation - business of manufacture of cold drinks - the assessee is legally entitled to avail the benefit of additional depreciation under Section...

Additional depreciation u/s 32(1)(iia) – assessee would be entitled to additional depreciation u/s 32(1)(ii a) on the leased assets. - AT

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 -...

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....

Additional depreciation claim @ 20% - the provision of section 32(1)(iia) is required to be interpreted reasonably and purposively as the strict and literal reading of...

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...

The assessee is entitled to claim additional depreciation u/s 32(1)(iia) on electrical items forming part of plant and machinery, even if not engaged in manufacture or...

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 Additional Depreciation u/s 32(1)(iia) - 50 % (@ 10%) disallowed being used less than 180 days - balance additional depreciation @ 10% on such new plant...

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...

Disallowance of additional depreciation - use of machinery in the actual process of manufacture of food products/sweets/namkeens - items of the assets installed at...

Additional Depreciation on the wind mill - period of trial run - to deny the benefit of additional depreciation to generating entity on the basis of electricity is not...

Quick Updates: