Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

Depreciation - fleet of cars which was kept ready for use - ...

Income Tax

July 1, 2014

Depreciation - fleet of cars which was kept ready for use - disallowance on account of personal use of the car could have been made to some extent on estimated basis but not the entire depreciation - 25% disallowed - AT

View Source

 


 

You may also like:

  1. Adhoc disallowance made on account of expenses under the heard vehicle maintenance, interest on car loan, telephone expenses, travelling expenses and depreciation on car...

  2. Disallowance of depreciation on car - use of car for personal purposes - it is for the AO to bring on record to suggest use of asset for personal purpose. In this case,...

  3. Disallowance of depreciation on motor car and disallowance on motor car maintenance - even though the personal use of Chevrolet Beat car by the assessee cannot be ruled...

  4. Disallowance of depreciation is use of BMW car by the director of assessee - The car in question was a business asset and depreciation had to be allowed on the same. The...

  5. Disallowance of depreciation on the car purchased by the assessee - Proprietorship firm - Merely because assessee has made payment for purchase of car from his personal...

  6. 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...

  7. Disallowance of depreciation on car and expenses related to cars which were registered in the name of the directors - the dominion ownership of the car rest with the...

  8. Disallowance of depreciation on Car - Although, the assessee could have made efforts to obtain a copy of the purchase invoice from the hypothecating bank and produced it...

  9. Depreciation on car purchased in the name of the Director - Depreciation @15% claim has been disallowed as asset could not be said to be of the company - However, AO...

  10. Depreciation on imported cars - amalgamation / merger - Respondent assessee had acquired the asset i.e. imported cars after the cut off date i.e. 1st April, 2001 and,...

  11. Disallowance of car hire charges - personal expenditure or not - when the assessee is having a subsidiary companies in Chennai and some of the Directors are residing at...

  12. Disallowance depreciation on car - There could be no disallowance u/s. 38(2) of the Act in respect of the depreciation on motor car, a tangible asset, covered u/s...

  13. Depreciation on Innova car - car having been purchased from the company’s fund though in the name of the Director and expenses as to its maintenance and running have...

  14. Depreciation on car - the assessee is eligible for depreciation on the car purchased by it but registered in the name of the director as the assessee is the beneficial...

  15. Exemption u/s 11 - if a car is purchased in the exclusive name of a trustee, who has complete control over the car and had no personal car of his own, in the absence of...

 

Quick Updates:Latest Updates