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 December 2015 Year 2015 This

Depreciation is allowable in the hands of the company, even if ...

Income Tax

December 5, 2015

Depreciation is allowable in the hands of the company, even if it is registered in the name of its director provided that the vehicle is used for the purpose of business of company and income derived there from was shown as income of the company - AT

View Source

 


 

You may also like:

  1. Depreciation on two wheeler vehicles and Car purchased in the name of directors - beneficial owner of asset - only registration in the name of director is not sufficient...

  2. Disallowing the depreciation for the cars AND interest paid on car loan used by the directors - vehicle held in the name of director of the appellant company - the...

  3. Disallowance of depreciation - Vehicles registered in the names of the purchasers and financed by the assessee under a hire purchase agreement - depreciation allowed - HC

  4. Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation...

  5. Claim of depreciation on motor car registered in the name of the Director and not the company - As the funds for purchase of vehicles have been provided by the assessee...

  6. Claim of higher rate of depreciation - Mobile crane was registered as a heavy motor vehicle - depreciation at 40% on crane mounted on motor truck allowed u/s 32 - AT

  7. Disallowance of depreciation and expenses on Sports Car - personal v/s business expenditure - it could not be stated that when the vehicles were used by the directors...

  8. Depreciation on vehicles - 50% for half year - Cars purchased by the assessee were ready to use as on the date of purchase i.e. prior to 28th September 2011....

  9. CENVAT credit - input services - Rule 2(l) of CCR 2004 - insurance taken in the name of Joint Managing Director - Insurance premiums of motor vehicles and repair of...

  10. Depreciation claim on its commercial vehicle - The tippers used by the assessee in its business are registered under the Motor Vehicles Act, 1988. They met the...

 

Quick Updates:Latest Updates