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 January 2016 Year 2016 This

Depreciation - only 10% area was let out by the assessee to its ...


Depreciation Limited to 1/10th: 10% of Property Let Out for Admin Use, Rest Used by Assessee.

January 6, 2016

Case Laws     Income Tax     HC

Depreciation - only 10% area was let out by the assessee to its associated concerns for administrative work whereas the remaining area was being used by it. Thus, depreciation only to the extent of 1/10th was disallowed - HC

View Source

 


 

You may also like:

  1. Income from house property - deduction (Vacancy allowance) - Notably the words used in section 23(1)(c) of the Act are “the property is let and was vacant during the...

  2. Nature of income earned by the assessee from letting out of property - undoubtedly the main objects of the assessee company provides to carrying on the business of...

  3. Allowance of additional depreciation - assets purchased after 01/10/2010 - the assessee only claimed 10% of the additional depreciation in the assessment year 2011-12....

  4. Income from house property - Deduction u/s 23(1) - Annual mixed use charges paid by the assessee to Municipal Corporation - The said charges is in the nature of...

  5. Income from House property - Vacancy can only follow a state of actual letting, envisaged u/ss. 23(1)(b)/(c). Reduction due to vacancy u/s. 23(1)(c) would accordingly...

  6. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

  7. Disallowance of Additional Depreciation u/s 32(1)(iia) - 50 % (@ 10%) disallowed being used less than 180 days - balance additional depreciation @ 10% on such new plant...

  8. 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...

  9. Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

  10. Assessee's claim for exemption u/s 10(35) was rejected by CPC while processing return u/s 143(1)(a), which attained finality as assessee failed to challenge it before...

  11. Charge to income tax in respect of a house property - deemed income - The words “where the property is let” in sections 23(1)(b) and 23(1)(c), thus, represents a state...

  12. The assessee's case was selected for limited scrutiny under CASS. The PCIT observed that the assessee, along with two co-owners, had purchased an immovable property...

  13. House property income - Vacancy allowance - property is let under clause (c) of section 23(1) does not mean that the property should have been actually let in the...

  14. Failure to file Form 10/10B before due date prescribed u/s 139(1) cannot be fatal to deny exemption u/s 11(2), especially when Form 10/10B was available on record when...

  15. Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

 

Quick Updates:Latest Updates