The properties acquired by the assessee during the year were ...

Income Tax

July 29, 2015

The properties acquired by the assessee during the year were being used for the purpose of business and, therefore, the assessee was entitled for the depreciation, and no question of adding annual value as income from house property under section 22 arises - AT

View Source

← Previous Next →

The properties acquired by the assessee during the year were ...

Income Tax

July 29, 2015

You may also like:

Depreciation on let out properties u/s 32 - use of properties for the purposes of business of the assessee. - no deprecation u/s 32 can be allowed on these two...

Base year for considering cost of inflation index (CII) for computing long term capital gain on inheritance of property - it should be the date when previous owner...

Addition under the head ‘income from house property - property not forming part of block of assets - property was purchased for the purpose of resale and lying vacant...

Claim of additional depreciation allowed where the Machines were acquired during the previous financial year but put to use during the current financial year

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...

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

Claim of Interest u/s.36(1)(iii) - security deposits paid to director’s wife for taking her bungalow on lease - The said property had been taken on lease by the assessee...

Once, the machinery was available for use, though not actually used, falls within the expression used “for the purpose of business of the assessee” and claim the benefit...

Claim of interest expenditure on loan - put to use - Tribunal was right in allowing the appeal filed by the assessee and holding that the term “put to use” applies to...

Income from house properties OR business income - By simply sitting in the office, AO just assigned the reason that I don’t agree with your submission. - the ld.Revenue...

Quick Updates: