Excess claim of depreciation - Equipments given on hire - cost ...

Income Tax

May 23, 2015

Excess claim of depreciation - Equipments given on hire - cost of acquisition u//s 43(1) - It defies all the logics that any Equipment commercially exploited for at least three months by giving it on hire, after purchase, would fetch the same price at which it was acquired. - AT

View Source

← Previous Next →

Excess claim of depreciation - Equipments given on hire - cost ...

Income Tax

May 23, 2015

You may also like:

Depreciation @ 60% on medical equipment as computers - computer controlled medical equipment can not be equated with computers - normal depreciation to be allowed - AT

Extra depreciation on computers – 60% depreciation claim made on video conferencing equipment - entire video conferencing system cannot be the termed as part and parcel...

Deduction u/s 80IA - eligible profit - Interest received from employees - the equipment hire charges would not be entitled to special deduction u/s 80I of the Act - AT

Non deduction of TDS on equipment hire charges paid to the doctors - bonafide belief as in the nature of reimbursement of expenses - interest and penalty deleted - AT

Depreciation on POS terminals - assessee was entitled to the depreciation at 60% on the ground that the equipment was akin to a computer

Depreciation on wind electric generations - wind mill generator is nothing but wind mill equipment on which depreciation is allowable @ 100% as per the statutory provision - AT

Payments made by the assessee-company for subcontracting its works contract - payment of hire charges/charter fees to EMPL - the contract given to EMPL was in the nature...

Whether Fly Ash Handling System is eligible to be treated as “air pollution control equipment“ for the purpose of granting depreciation at 100% - held yes - AT

Hiring of vehicles to be used for loading & unloading and transportation of products – Merely because the words "loading & unloading" are used in the contract, no one...

Import of Equipment - Transmitter Broadcasting Equipment Sub-system (Data Processing Unit with transmitting capabilities for broadcasting, software and other standard...

Quick Updates: