Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2016 Year 2016 This

Depreciation u/s 32 - registration of vehicles has not been ...

Income Tax

July 18, 2016

Depreciation u/s 32 - registration of vehicles has not been transferred in the name of the appellant under the Motor Vehicles Act - the assessee has rightly claimed depreciation on the vehicles having possession and dominion over the income and control over their operations. - AT

View Source

 


 

You may also like:

  1. Depreciation on vehicles u/s 32 - @30% or 50% - special rate of depreciation - assessee has claimed depreciation @ 50% i.e. on tankers - Since the assessing officer has...

  2. Claim of higher rate of depreciation - Mobile crane was registered as a heavy motor vehicle - depreciation at 40% on crane mounted on motor truck allowed u/s 32 - AT

  3. Disallowing the depreciation for the cars AND interest paid on car loan used by the directors - vehicle held in the name of director of the appellant company - the...

  4. Depreciation u/s 32 - use of vehicles by way of leasing out to others and not as actual user of the vehicles - business of running them on hire - ownership established -...

  5. Expenditure on setting up a new unit to roll out new types of vehicles is capital expenditure, entitled to depreciation u/s 32.

  6. Claim of terminal depreciation - assessee had in fact claimed depreciation as contemplated under section 32 merely because it was termed as "terminal depreciation" was...

  7. Depreciation on Non-compete Fee – The transfer of the trade mark, patents and other rights in favour of the assessee was undoubtedly the transfer of intangible assets -...

  8. The assessee is eligible for the claim of depreciation u/s 32(1)(ii) on the amount of intangible assets acquired by it as per Business Transfer Agreement - AT

  9. 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)...

  10. Depreciation on two wheeler vehicles and Car purchased in the name of directors - beneficial owner of asset - only registration in the name of director is not sufficient...

  11. 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...

  12. Input tax credit - Stock transfer - IGST and Compensation Cess paid on receipt of cars (on stock transfer basis) for use in relation to specified business activities -...

  13. Depreciation u/s 32 - conversion of partnership firm into private limited company - assessee is entitled to depreciation on the enhanced cost at which the assessee has...

  14. Depreciation claim on its commercial vehicle - The tippers used by the assessee in its business are registered under the Motor Vehicles Act, 1988. They met the...

  15. Rate of Depreciation on vehicles 15% or 30% - commercial vehicles - There was no evidence to show that the vehicles were used for running them on hire - the assessee is...

 

Quick Updates:Latest Updates