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

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

 


 

You may also like:

  1. 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,...

  2. 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...

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

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

  5. 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...

  6. Depreciation on intangible asset representing acquisition of business contract - assessee has also acquired contractual rights which, no doubt, is a valuable commercial...

  7. 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...

  8. Depreciation on property – income earned may be assessable to tax under the head ‘property income’ but the fact remains that the assessee was engaged in a business...

  9. 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...

  10. Whether property leased out is not assessable to wealth-tax - certainly the assessee is entitled to the exemption, because the same is used in leasing business - HC

 

Quick Updates:Latest Updates