Depreciation @ 10% on improvements carried out in the lease hold ...

Court Rules 10% Depreciation Rate for Leasehold Improvements; Ownership Status Doesn't Affect Expenditure Nature.

February 5, 2022

Case Laws Income Tax AT

Depreciation @ 10% on improvements carried out in the lease hold premises - Assessee claimed 100% depreciation on the leasehold improvements - The ingredients and prerequisites of a capital expenditure or revenue expenditure would remain the same, and not undergo any change depending on whether the building is owned or occupied as lessee or other occupancy rights leased premises. - AT

View Source

← Previous Next →

Depreciation @ 10% on improvements carried out in the lease hold ...

Court Rules 10% Depreciation Rate for Leasehold Improvements; Ownership Status Doesn't Affect Expenditure Nature.

February 5, 2022

Case Laws Income Tax AT

You may also like:

The High Court ruled on the constitutional validity of Rule 96(10) of the Central Goods and Services Tax (CGST) Rules, 2017, which was challenged as being ultra vires...

Disallowance of leasehold improvement expenditure - the repair expenses incurred by the assessee, which have been termed as leasehold improvement, are revenue...

Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

HC examined validity of detention and seizure notice under GST Act Section 129(3). Referring to government circular dated 31-12-2018 defining ownership of goods through...

Income-tax (Tenth Amendment) rules, 2012 - Insertion of Rules 10F, 10G, 10H, 10-I, 10-J, 10K, 10L, 10M, 10N, 10-O, 10P, 10Q, 10R, 10S, 10T & 44GA - Notification

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....

Eligibility to claim refund of IGST - The availing exemption under Notification No.79/2017-Cus dated 13.10.2017 in respect of additional duty of Customs under...

CENVAT Credit - capital goods - case of department is that since the appellant has transferred the credit from Mumbai to Surat the same is not eligible to them on the...

Disallowance of depreciation on building improvement - the assessee is not entitled to the claim of depreciation on such improvements to the land and building for more...

Depreciation @ 10% on landscaping & development charges which is capitalized in nature of land allowed - AT

Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

HC determined that Notification No. 54/2018-Central Tax amending Rule 96(10) of CGST Rules operates prospectively from October 9, 2018, not retrospectively from October...

The process involved in preparing pre-packed ready-to-eat items is not merely cooking but also includes preservation through retort technology. The appropriate...

Failure to file Form 10/10B before due date prescribed u/s 139(1) cannot be fatal to deny exemption u/s 11(2), especially when Form 10/10B was available on record when...

Transfer of capital goods to sister unit (transfer of business) - Rule 3 (5) of the Cenvat Credit Rules, 2004 - The conditionalities of Rule 10 given in sub-rule (3)...

Quick Updates: