Home Highlights January 2013 Year 2013 This

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1. Determination of cost of assets - Depreciation - Applicability of Explanation and proviso to 43(1) - subsidy utilisation specifically under the head building, furniture,...

2. Disallowance of depreciation - capital subsidy received under Technology Upgradation Fund (TUF) scheme - the said capital subsidy need to be directly credited only to...

3. Constitutional validity of the the proviso to Clause (26AAA) - Proviso excludes from the exempted category, “Sikkimese women” who marries a non-Sikkimese after...

4. Depreciation - Determination of cost of acquisition - Reduction of amount of subsidy - Explanation 10 to section 43(1) - the said section is not applicable on the facts...

5. Subsidy received prior to insertion of Explanation 10 to section 43(1) - Tribunal was not right in law in holding that the amount of subsidy received prior to insertion...

6. Incentive in the form of subsidy cannot be considered as a payment directly or indirectly to meet any portion of the actual cost and thus it falls outside the ambit of...

7. Depreciation on Capital subsidy - subsidy was granted for the specific purpose of technology up-gradation - for the purpose of computing depreciation allowable to the...

8. Levy of GST - Capital Subsidy (90 per cent of Project Capital Expenditure) received by the Applicant as per SIOM Agreement and Escrow Agreement from Odisha Government...

9. 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....

10. Disallowance of Depreciation by reducing Written down value of assets by subsidy received - incentive received by the assessee is not covered under the provisions of...

11. Depreciation @ 10% on landscaping & development charges which is capitalized in nature of land allowed - AT

12. 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...

13. Nature of incentive subsidy - Capital or revenue receipt - subsidy on the purchase of generator set - the same is capital subsidy and should go on to reduce the cost of asset - AT

14. Determination of cost of Acquistion of assets - reduction of amount subsidy from cost - entertainment subsidy being for the promotion of cinema/ multiplex industry; only...

15. Disallowance of depreciation by applying Explanation 10 to section 43(1) - the action of the AO in reducing the subsidy from the cost/w.d.v of assets for allowing...