Home Highlights March 2014 Year 2014 This

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1. Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

2. Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

3. 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...

4. Disallowance of depreciation on cars given on lease - no depreciation is claimed by the lessee on these leased cars - assessee company has rightly claimed the...

5. Depreciation on assets taken on lease - once any asset enters into block asset and claim of depreciation in very first year is allowed, in subsequent year the...

6. Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

7. TP Adjustment - Purchase of fixed assets - TPO added the entire amount of fixed assets purchased by the assessee from its AE’s during the year - the fixed assets...

8. Disallowance of depreciation on guest house - assessee has claimed depreciation @ 10% on guest house, which is applicable to factory and office buildings - assessee had...

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

10. 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...

11. Disallowance of the claim of depreciation on intangible asset - amalgamation scheme initiated - when there is no transfer of the asset as well as there is no valuation...

12. Depreciation on Assets – whether lessor was entitled to depreciation on assets leased by it in finance lease - Held No - lease agreement under consideration was that of...

13. Disallowance of depreciation on leased assets - As the owner, it used the assets in the course of its business, satisfying both requirements of Section 32 of the Act and...

14. Disallowance of claim of depreciation on the assets leased - operating lease - Allegation of the Revenue that the Assessee does not have any infrastructure is concerned,...

15. Rate of depreciation on ‘film software library' - the asset which consists of ‘Copyrighted Films and Programmes’ is an ‘Intangible Asset’ eligible for depreciation at...