Home Highlights June 2015 Year 2015 This

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1. Allowability of depreciation on shuttering material - he assessee was the owner of the shuttering which was ready to use - Assessee is entitled for 100% depreciation - HC

2. Depreciation on centering and shuttering material - each item of shuttering material cannot be treated as one whole the shuttering material forming one plant eligible...

3. Assessee had claimed depreciation on carats @ 100%, however, AO allowed @ 50% - Depreciation on carats as claimed by the assessee is allowed - AT

4. Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

5. Depreciation @ 40% or 100% - transport vehicle as consisting of two parts, viz., cylinder and vehicle - entitled to claim depreciation at 100 per cent .... - HC

6. Entitlement for depreciation on cinematographic films @ 100% - rights are integral and form and represent rights of a film distributor - deduction of full claim allowed - HC

7. 100% EOU - demand of customs duty on the raw material imported duty free - removal of finished goods in DTA without having any permission from the Development...

8. Entitlement for claim of depreciation on tanker – he tanker was not used during the closure of the accounting year – thus, the order of the Tribunal denying the...

9. Depreciation on machinery and equipments - Depreciation @ 25% or 100% - Even before this Court, learned counsel for the Assessee was unable to demonstrate why the...

10. 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...

11. Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

12. Classification of goods - galvanized poles - transmission line material or not - Undoubtedly the Feeder Pillar is used for transmission of electricity while galvanized...

13. Claim of 100% set off for tax paid on the coal purchased - Merely because heat is generated in the process it cannot be a ground to hold that Noncooking coal so used was...

14. Disallowance of depreciation - assessee had claimed 100 percent depreciation as the project was completely abandoned later in the year 1999. Since the machinery was...

15. 100% Depreciation on "Jetty" - The main function of a Jetty was to provide a passage or, a platform to ferry articles onto the concerned Vessels. This could have been...