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 2015 Year 2015 This

Levy of penalty u/s.271(1)(c) - disallowance of depreciation as ...

Income Tax

July 3, 2015

Levy of penalty u/s.271(1)(c) - disallowance of depreciation as assets were not put to use for the purpose of running business activity in the years under consideration - it is not a fit case for levy of penalty u/s.271(1)(c) - AT

View Source

 


 

You may also like:

  1. Penalty under section 271(1)(c) - disallowance of depreciation - he explanation given by the assessee for the claim of depreciation is neither bona fide nor...

  2. Disallowance of depreciation - no business activity was carried out by the assessee company - The use of individual asset for the purpose of business may be examined...

  3. Depreciation - asset concerned was not actually used for the purpose of business during the relevant previous year – Disallowance of lay up cost - AT

  4. Rate of depreciation on intangible asset of licence for running container trains - commercial rights for 20 years - such rights would amount to capital asset - claim of...

  5. Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

  6. Penalty u/s 271(1)(c) - claim of depreciation @100% instead of 15% - Temporary Wooden structures like interiors, glow signs etc. being Furniture & Fixture - Levy of...

  7. Levy of penalty levied u/s 271(1)(c) - disallowance under section 40(a)(ia), does not amount to concealment of income - No penalty.

  8. Depreciation - During the year the entire unit was not put to use - The said block of assets was used for the purpose of business during the year. Under the...

  9. Penalty levied u/s 271(1)(c) - the mere disallowance under section 43B would not amount to concealment of income or furnishing inaccurate particulars of income - no penalty.

  10. Penalty under section 271(1)(c) - disallowance of capital expenditure of Research and Development - The facts material to the computation were not produced - levy of...

 

Quick Updates:Latest Updates