Home Highlights August 2015 Year 2015 This

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1. Claim of depreciation - Fresh claim made in the revised ITR - irrespective of the fact of assessee claiming or not, the depreciation shall be allowed while computing the...

2. Depreciation on sample flat - number of days asset used - the revenue has allowed the claim of 50% of the depreciation claimed by the assessee in the first year when the...

3. Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

4. Non-granting of deduction in respect of depreciation u/s.32 - correction in the ITR - the CIT(A)’s claim that the assessee the assessee has filed a revised return...

5. Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in...

6. Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

7. Disallowance on account of depreciation on goodwill - Scheme of Amalagamation adopted - the 5th proviso was inserted in order to prevent double claim of the depreciation...

8. TP Adjustment - Claim of depreciation on software - no ownership claim of the assessee proved - Section 32 of the Act provides depreciation on the eligible assets owned...

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

10. Depreciation on residential property - AO directed to allow depreciation as claimed by the assessee on residential premises, but verify the fact with regard to deduction...

11. Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

12. Depreciation on P&M claim at lessor rate than eligible – Assessee wrongly claim depreciation at lessor rate in 3CD - As per the provision of sec. 32(1) & 32 (1) (i)...

13. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

14. Depreciation on the expenditure incurred for construction of Amritsar Bus Terminal project on build, operate and transfer (BOT) basis - the assessee is entitled to claim...

15. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...