Tag: depreciation asset not put to use
Full year depreciation on vehicle can not be denied on the ground that registration was done later as assessee had vehicle in its possession. ABCAUS Case Law Citation:ABCAUS 3759 (2023) (06) ITAT Important Case Laws relied upon:National Thermal Power Corporation Ltd. vs. Commissioner of Income-tax (2012) 28 taxmann.com …
Depreciation allowable even if asset not used during the year when it formed part of block of assets ABACUS Case Law CitationABCAUS 3378 (2020) (08) ITAT Important case law relied upon by the parties:CIT vs. Norplex Oak India reported in 198 Taxman 0470 In the instant case, the …
Depreciation allowed when asset was not used for a single day during the year due to seizure by bank for loan default – ITAT followed law settled by High Courts ABCAUS Case Law Citation ABCAUS 2367 (2018) 06 ITAT The instant appeal was preferred by the Income Tax Department …
Depreciation disallowed when entire asset block not put to use during the year. The Claim that asset once entered block, depreciation should be allowed dismissed by ITAT ABCAUS Case Law Citation: 958 2016 (06) ITAT Assessment Year: 2007-08 Date of Judgment/Order: June, 2016 Brief Facts of the Case: …