Disallowance of 1/5th of vehicle expenses - when the vehicles ...

Case Laws Income Tax

December 1, 2023

Disallowance of 1/5th of vehicle expenses - when the vehicles were used by the directors 'even if they were personally used by the directors', the vehicles were personally used by the company, because a limited company by its very nature cannot have any 'personal use'. The limited company is an inanimate person and there cannot be anything personal about such an entity. - Additions deleted - AT

View Source

← Previous Next →

Disallowance of 1/5th of vehicle expenses - when the vehicles ...

Case Laws Income Tax

December 1, 2023

You may also like:

Disallowance of depreciation and expenses on Sports Car - personal v/s business expenditure - it could not be stated that when the vehicles were used by the directors...

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...

Disallowance on account of Vehicle and Telephone expenses - the assessee could not adduce proper evidence in support of Vehicle and Telephone expenses having been...

Disallowance on account of personal use of vehicle maintenance - 10% of vehicle running and maintenance expenses is a reasonable estimate and in absence of log book - AT

Detention of motor vehicle - RANGE ROVER motor vehicle transported from Coimbatore to Thiruvananthapuram as 'used personal effect' of the 2nd respondent - detention on...

Disallowance of telephone expenses and motor car expenses at the rate of 10% on adhoc basis - t there are a no. of luxury vehicles which are used by the partners of the...

Hiring of vehicles to be used for loading & unloading and transportation of products – Merely because the words "loading & unloading" are used in the contract, no one...

This circular clarifies the availability of input tax credit (ITC) on demo vehicles used by authorized dealers of motor vehicles. Key points are: ITC is available on...

Depreciation on vehicles - 50% for half year - Cars purchased by the assessee were ready to use as on the date of purchase i.e. prior to 28th September 2011....

Inward supply of motor vehicles used for demonstration purposes in the course of business of supplying motor vehicles cannot be availed as input tax credit on capital...

Ad-hock disallowance of depreciation - non maintenance of log book - it was required to demonstrate that the vehicle has been used wholly and exclusively for the...

Power to seizure vehicle - apprehension of misuse in future - If a possible future use of a vehicle as a means of transport for smuggling goods confers a power of...

Confiscation of Vehicle - import of car is new one or old/ used vehicle - the vehicle was registered only for the purposes of transportation for the Port. Therefore, it...

The circular clarifies the availability of input tax credit on demo vehicles used by authorized dealers for providing trial runs and demonstrating features to potential...

This trade circular clarifies the availability of input tax credit (ITC) on demo vehicles used by authorized dealers for motor vehicles. The key points are: ITC is...

Quick Updates: