depreciation

  • Income Tax

Full year depreciation on vehicle can not be denied based on registration date

Full year depreciation on vehicle can not be denied on the ground that registration was done later as assessee had…

11 months ago
  • Income Tax

Gain on sale of fixed assets held not taxable under income tax act

Gain on sale of fixed assets was not taxable under income tax act as sale consideration was reduced from block…

11 months ago
  • Income Tax

Addition sustained for claiming accumulated depreciation in Profit and Loss Account

Addition sustained for claiming accumulated depreciation in Profit and Loss Account instead of current year’s depreciation ABCAUS Neutral Case Law…

1 year ago
  • Income Tax

Once an asset is part of block, depreciation can not be denied for non-use of individual item

Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has…

3 years ago
  • Income Tax

Depreciation allowable even if asset not used during year when it formed part of block of assets

Depreciation allowable even if asset not used during the year when it formed part of block of assets ABACUS Case…

4 years ago
  • Income Tax

Depreciation disallowed on VAT portion of capital goods purchased from grey market

Depreciation disallowed on VAT portion of capital goods suspected to be purchased from grey market ABACUS Case Law CitationABCAUS 3364…

4 years ago
  • Income Tax

Depreciation allowable u/s 11(6) when cost of fixed assets not claimed application of income

Depreciation allowable u/s 11(6) when assessee has not claimed cost of fixed assets as application of income in any previous…

4 years ago
  • Income Tax

Depreciation rate on printers. Printers being part of computer systems entitled for depreciation at 60%

Depreciation rate on printers under Income Tax. Computer peripherals like printers part of computer system & entitled for depreciation at…

5 years ago
  • Income Tax

Depreciation and provision for maintenance on BOT project allowable – ITAT

Depreciation and provision for maintenance on BOT project allowable. ITAT distinguished decision of Bombay High Court & held in assessee's…

5 years ago
  • Income Tax

Depreciation on intangible assets on conversion of proprietorship into private ltd. company allowed

Depreciation on intangible assets on conversion of proprietorship into private limited company allowed as the transaction was not considered sham…

5 years ago