Higher rate of depreciation - machinery is put on hire in the ...

Case Laws Income Tax

January 21, 2023

Higher rate of depreciation - machinery is put on hire in the business - the assessee has not shown any hire charges in respect of heavy earth moving machineries used by the assessee in its business of the contract of road building. - The assessee has not hired heavy earth moving machinery in the business of the assessee. - assessee is not entitled to the higher rate of depreciation in respect of said plant and machinery - AT

View Source

← Previous Next →

Higher rate of depreciation - machinery is put on hire in the ...

Case Laws Income Tax

January 21, 2023

You may also like:

Higher rate of depreciation - Depreciation on business of civil contract @30% or 15% - in the case of assessee’s own business, the wear and tear is lesser than the...

Eligibility of higher rate depreciation on truck chassis fixed with transit mixture - vehicle used for hire - no evidence that assessee has earned any receipt towards...

Higher depreciation claim - Receipt from business of hiring of plant and machinery - The assessee’s claim is that since the substantial income i.e. 2/3rd of its income...

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...

Assessee is entitled for depreciation on dumpers and pay loaders at the higher rate - AT

Revision u/s 263 by CIT - claim of higher depreciation at the rate of 30% on vehicles - Even in the 263 proceedings before Ld. Pr. CIT and in the proceedings before us,...

Rate of Depreciation on vehicles 15% or 30% - commercial vehicles - There was no evidence to show that the vehicles were used for running them on hire - the assessee is...

Higher rate of Depreciation - Prime requirement is that moulds should be owned by the assessee, the same should be part of block assets shown by the assessee and these...

Disallowance of depreciation of plant and machinery - even assuming for a moment, the asset was not put to use in the business of the assessee, but when the plant and...

Higher rate of depreciation on account of hiring of vehicles - Since the issue in the instant case is a highly debatable issue, i.e. whether the assessee is entitled to...

Depreciation on the Cranes given on lease to Oil India Limited @ 30% disallowed - according to the Revenue, such assets were not used for hire and, therefore, are not...

Additional depreciation on certain assets/machineries - If the assessee uses partly for own use and for hire charges he is not entitled to claim excess depreciation as...

Disallowance of depreciation - asset ready to use VS put to use - the use of the plant and machinery depended upon the operation of the furnace which was not put to use...

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...

Depreciation on apple ipad - at the general rate of 15% OR 60% - whether the iPad falls in the definition of computer or mobile phone? - in case the assessee wishes to...

Quick Updates: