Carry forward of additional depreciation - Asset put to use for ...

Income Tax

August 25, 2022

Carry forward of additional depreciation - Asset put to use for less than 180 days - if plant and machinery is put to use for less than 180 days in the said financial year. This would necessarily mean that the balance 10% additional deduction can be availed in the subsequent assessment year, otherwise the very purpose of insertion of Clause (iia) would be defeated because it provides for 20% deduction which shall be allowed. - AT

View Source

← Previous Next →

Carry forward of additional depreciation - Asset put to use for ...

Income Tax

August 25, 2022

You may also like:

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...

Additional depreciation on the plant and machinery - 50% of the additional depreciation was only claimed during the first year - the assessee is entitled for additional...

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 -...

Disallowance of depreciation claimed by the assessee u/s 32 on the fixed assets acquired/purchased during the year - asset put to use or not? - Once a new factory has...

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...

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...

Assessee is entitled to claim 50% of additional depreciation in the succeeding year when the plant and machinery was put in use for less than 180 days in the preceding...

Disallowance of depreciation - The expression "put to use" for 180 days has been wrongly changed by the AO for "6 months" - asset was put to use on or before 30.09.2007,...

Since assets were put to use for less than 180 days, depreciation claimed only 50% of 15% - Balance additional depreciation was claimed by in instant assessment year -...

Depreciation - plant and machinery could not be used during the year due to shifting / relocation of plant - Though, the unit could not generate revenue during the year...

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...

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...

Revision u/s 263 - commission paid to the MD to be disallowed - Even though it has not claimed 100% of the quantum of the value of assets due to the fact that the assets...

Disallowance of depreciation - asset ready to use VS put to use - the use of the plant and machinery depended upon the operation of the furnace which was not put to use...

Additional depreciation u/s. 32(1)(iia) on block of assets like Computers and Software - Assets eligible for additional depreciation must be plant or machinery. Also...

Quick Updates: