Home Highlights July 2017 Year 2017 This

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1. 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...

2. Depreciation on the LPG Cylinders - loaning of the cylinders against security deposit - depreciation allowed - AT

3. Allowance of depreciation - depreciation on toll road as building - ownership of the assets - depreciation allowed - AT

4. Disallowance of depreciation of plant and machinery - even assuming for a moment, the asset was not put to use in the business of the assessee, but when the plant and...

5. Disallowance of software expenses - Disallowance is in respect of expenditure claimed towards “repairs - computers-annual maintenance” and “Repairs-computers-others” -...

6. 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...

7. Depreciation on electrical installation - rate of depreciation - electrical installation is integral to the plant and machinery used for manufacturing steel - CIT(A) has...

8. 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)...

9. Rate of depreciation on ‘film software library' - the asset which consists of ‘Copyrighted Films and Programmes’ is an ‘Intangible Asset’ eligible for depreciation at...

10. Rate of depreciation on intangible asset of licence for running container trains - commercial rights for 20 years - such rights would amount to capital asset - claim of...

11. 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...

12. Rate of depreciation on CCTV cameras - Computer is an integral part of CCTV camera and as such, is eligible for depreciation at the rate of 60% as prescribed for Computers - AT

13. Assessee is entitled for depreciation on dumpers and pay loaders at the higher rate - AT

14. Depreciation on plastic mould - two wheeler manufacturer - it is immaterial whether the plastic /rubber moulds were used in the factory premises of the assessee or...

15. 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