Rectification u/s 154 - additional depreciation @20% claimed as ...

Income Tax

February 11, 2020

Rectification u/s 154 - additional depreciation @20% claimed as per provision of Sec. 32(1)(iia) - it is on record of the AO that the issue is debatable and the issue which has been rectified by the AO u/s 154 is highly debatable and it is the settled legal preposition of law that a debatable issue cannot be rectified u/s 154 and cannot be said mistake apparent on record.

View Source

← Previous Next →

Rectification u/s 154 - additional depreciation @20% claimed as ...

Income Tax

February 11, 2020

You may also like:

Additional depreciation claim @ 20% - the provision of section 32(1)(iia) is required to be interpreted reasonably and purposively as the strict and literal reading of...

Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

Allowance of additional depreciation - asset put to use for less than 180 days during the earlier year - assessee has claimed balance of depreciation @10% (i.e. 50% of...

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)...

Additional depreciation on diagnostic/service equipments claimed as a deduction u/s. 32(1)(iia) - assessee is eligible for additional depreciation on vaporizers u/s....

Additional depreciation - business of manufacture of cold drinks - the assessee is legally entitled to avail the benefit of additional depreciation under Section...

Eligibility for additional depreciation u/s 32(1)(iia) on plant and machineries relating to Seed Division - the instant activity of the assessee is held to be an...

Additional depreciation @20% u/s 32(1)(iia) - vehicle used for the transport of Ready Mix Concrete (RMC) for use in their construction site, from their own manufacturing...

Additional depreciation u/s 32(1)(iia) - asset put to use for less than 180 days - remaining 50% of allowable additional depreciation in the subsequent assessment year -...

Additional Depreciation on the wind mill - period of trial run - to deny the benefit of additional depreciation to generating entity on the basis of electricity is not...

Disallowance of Additional Depreciation u/s 32(1)(iia) - 50 % (@ 10%) disallowed being used less than 180 days - balance additional depreciation @ 10% on such new plant...

Additional depreciation u/s 32(1)(iia) – assessee would be entitled to additional depreciation u/s 32(1)(ii a) on the leased assets. - AT

Additional Depreciation u/s 32 - claim of 10% (50% of 20%) in the first year and balance 10% in the second year - the balance 10% additional deduction can be availed in...

Claim of balance additional depreciation on the assets which were put to use in earlier year - Number of days asset put to use - whether machinery is put to use for less...

The activity of drying and threshing of tobacco leaves amounts to manufacture, which is eligible for additional depreciation as per the provisions of section 32(iia) of the Act

Quick Updates: