Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2012 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (10) TMI 1047 - HC - Income TaxDepreciation rate on motor cars @20% or 50% - business of running them on hire - depreciation on intangible assets viz. Business Equity - Held that:- First question is answered in favour of the assessee being assessee's own case Income-tax [2012 (8) TMI 773 - BOMBAY HIGH COURT] - Regarding depreciation on Business equity, even the intangible assets constitute goodwill on which depreciation would be allowable - Decision in the case of CIT v. Smifs Securities Ltd. [2012 (8) TMI 713 - SUPREME COURT] followed - Against the revenue
|