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 January 2013 Year 2013 This

Depreciation u/s 32 - use of vehicles by way of leasing out to ...

Case Laws     Income Tax

January 16, 2013

Depreciation u/s 32 - use of vehicles by way of leasing out to others and not as actual user of the vehicles - business of running them on hire - ownership established - higher depreciation allowed - SC

View Source

 


 

You may also like:

  1. Benefit of depreciation - vehicles leased out - As the owner, it used the assets in the course of its business, satisfying both requirements of Section 32 of the Act and...

  2. 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...

  3. Depreciation on leased assets - section 32 - Section 2(13) and Section 2(24) the income derived from leasing of the trucks would be business income - depreciaion allowed - HC

  4. 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...

  5. Depreciation allowance at the rate of 30% for the vehicles given on hire denied - It was engaged in the business of hiring trucks and those trucks cannot be treated as...

  6. Incorrect depreciation claim - fractional ownership - real ownership - Merely entering into an agreement or understanding of user of a asset, a License may be created in...

  7. Depreciation on vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

  8. The ITAT Delhi ruled on the correct classification of income from property lease - whether as rental income, business income, or other sources. The lease agreement...

  9. Claim for depreciation on the leased vehicles - the finding by the ld. CIT(A) of the character of the lease as an operating lease cannot, under the circumstances, be...

  10. Disallowance of depreciation - Finance lease - on a combined reading of Section 2(13) and Section 2(24) the income derived from leasing of the trucks would be business...

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

  12. Deprecation u/s 32 on goodwill - Depreciation could not be denied to the Taxpayer merely for the reason that the assets were classified as ‘goodwill’ in the books of...

  13. Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation...

  14. Claim of higher rate of depreciation - Mobile crane was registered as a heavy motor vehicle - depreciation at 40% on crane mounted on motor truck allowed u/s 32 - AT

  15. Higher rate of Deprecation on vehicles - the assessee that the assessee is eligible for higher rate of depreciation at the rate of 30%. Merely because the invoices...

 

Quick Updates:Latest Updates