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 October 2023 Year 2023 This

Higher rate of Depreciation - Prime requirement is that moulds ...

Case Laws     Income Tax

October 11, 2023

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 were put to use for the purpose of business of the assessee and the three requisite conditions have been fulfilled by the assessee in the present case and thus it is entitled to claim depreciation @ 30% - AT

 

View Source

 


 

You may also like:

  1. Depreciation on plastic mould - two wheeler manufacturer - it is immaterial whether the plastic /rubber moulds were used in the factory premises of the assessee or...

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

  3. Higher rate of depreciation - The appellant's argument that since ‘main machinery' used by it is 'injection moulding machine', all the items should qualify for...

  4. 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...

  5. Depreciation u/s 32 - for claiming higher rate of depreciation, there is no requirement under the Act of usage of the assets by the assessee himself - HC

  6. 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...

  7. 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...

  8. Higher claim of depreciation on Windmill – if the electrical works are specially designed devices to suit the need of windmills, then only the assessee is entitled for...

  9. Depreciation on moulds -Factory of the assessee was plastic goods factory. The moulds used for manufacturing such goods, therefore, qualify for higher rate of depreciation - HC

  10. 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...

  11. Grant of depreciation on Solar Power Plant (“SPP”) - Year of assessment - block of asset - On account of some technical ground, if it is denied in this year, then it...

  12. Depreciation disallowed on the reason that 4 trademarks have been included in the block of assets are not put to use - in relation to block of assets, it is not possible...

  13. Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

  14. Rejection of petition challenging classification of "Autoclaved Aerated Concrete blocks" (AAC Blocks) under residuary Entry 69 of Part C instead of proposed Entry 15 of...

  15. Disallowance of depreciation allowance - WDV - plant and machinery were not used during the year due to change in business model - nce an asset is part of the block of...

 

Quick Updates:Latest Updates