Depreciation - -Notwithstanding adverse law and order situation, ...

Case Laws Income Tax

November 11, 2011

Depreciation - -Notwithstanding adverse law and order situation, the assessee did not abandon its business but suffered loss for such a state of affairs prevailing in that State over which he had no control with an expectation of resuming the business - deduction allowed..... - HC

View Source

← Previous Next →

Depreciation - -Notwithstanding adverse law and order situation, ...

Case Laws Income Tax

November 11, 2011

You may also like:

Depreciation on Car - Assessee has not earned any revenue from hotel business - The assessee company is in existence under the Companies Act and it has to fulfill...

Higher rate of depreciation - machinery is put on hire in the business - the assessee has not shown any hire charges in respect of heavy earth moving machineries used by...

Revision u/s 263 - claim of depreciation - no business activity - the assessee is not carrying on any business activity. Indeed the manufacturing activity of the...

Disallowance of depreciation - assessee had claimed 100 percent depreciation as the project was completely abandoned later in the year 1999. Since the machinery was...

Disallowance of depreciation claim - assessee has not carried out any business activity - The case of the assessee that the assets are kept ready for use and it was...

Disallowance of expenditure owing to suspension of business operations - To our mind, not carrying on any business activities during a particular period cannot be...

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...

Additional depreciation on the machinery installed at various collection centers - business of pathological testing diagnostic laboratories - the collection centers are...

Higher rate of depreciation - Depreciation on business of civil contract @30% or 15% - in the case of assessee’s own business, the wear and tear is lesser than the...

Revision u/s 263 by CIT - Unabsorbed Depreciation or unabsorbed Business Loss - Even, assuming for a moment, the PCIT is right on his observation, but fact remains that...

Depreciation on assets of hire purchase and leasing business – setting up of new business i.e. new source of income - There is no interconnection between the businesses...

TP Adjustment - Claim of depreciation on software - no ownership claim of the assessee proved - Section 32 of the Act provides depreciation on the eligible assets owned...

Disallowance of interest expenses u/s.36(1)(iii) - Once project is abandoned, it seizes to become eligible asset to capitalize borrowing cost to the work in progress...

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 on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

Quick Updates: