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2014 (9) TMI 391 - HC - Income TaxEntitlement for 100% depreciation on value of cylinders purchased – Held that:- If the cost of the item is less than ₹ 5,000/-, it need not even be entered in the block of assets at all and that in turn would keep such article outside the field of taxation – relying upon Commissioner of Income Tax v. Dhall Enterprises and Engineers (P) Ltd [2005 (12) TMI 79 - GUJARAT High Court] - an article whose cost is less than ₹ 5,000/- cannot form part of the block of assets much less the depreciation is subjected to any test as to extent of use – Tribunal rightly was of the view that once an article or item is covered by first proviso, it cannot be subjected to any test including the one stipulated under third proviso – Decided against revenue.
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