Claim of Depreciation - Determination of cost of Acquistion - ...

Income Tax

September 12, 2023

Claim of Depreciation - Determination of cost of Acquistion - Reduction of amount of entertainment tax subsidy - As entertainment tax subsidy granted by the State Government is not for the purpose of utilizing on any particular or specified assets. That being the factual position emerging on record, the reasoning of the assessing officer that such subsidy would go to reduce the cost of assets is unacceptable. - AT

View Source

← Previous Next →

Claim of Depreciation - Determination of cost of Acquistion - ...

Income Tax

September 12, 2023

You may also like:

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

Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

Depreciation - Determination of value / cost of assets - reduction of the value received by it in the form of forfeiture of amount in an earlier agreement for sale of...

Disallowance of depreciation on the Project Berth - cost of construction / development - Circular can be applied retrospectively in respect of deductions claimed in...

Claim of depreciation - capitalisation being pre-commencement rent and other expenditure incurred - Section 32 of the Act allows depreciation on actual cost of the...

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...

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

Addition on account of diamond set received as gift by the appellant - The CIT(A) accepted the appellant's submission that the diamond set was indeed gifted by his late...

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...

Addition on account of long term capital gains - indexed cost of acquisition - Claim of assessee that in financial year 1994- 95, the assessee has gifted certain portion...

Automatic Reduction/Enhancement upto 10% Duty saved amount and pro rata Reduction / Enhancement in export obligation

Disallowance of higher reduction of depreciation on the cost of civil engineering works for laying foundation of solar power panels - the expenditure which is incurred...

TP Adjustment - ALP determination - depreciation - operating cost - since the assets are used by the assessee with respect to the services provided to AE and hence the...

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

Quick Updates: