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

Rate of depreciation to be applied on WDV of windmill installed ...


Tax Officer Can't Change Past Windmill Depreciation Claims on Written Down Value, Rules Court.

January 16, 2016

Case Laws     Income Tax     AT

Rate of depreciation to be applied on WDV of windmill installed by the assessee - Assessing Officer is not empowered to disturb the claim of depreciation on WDV of an asset, which was installed in the earlier years. - AT

View Source

 


 

You may also like:

  1. HC held that the amalgamated company was entitled to adjust the written down value of assets based on actual depreciation, despite not obtaining Central Government...

  2. Depreciation on power plant at written down value method as against claimed by the appellant at straight line method - There is no bar under law that a captive...

  3. The assessee, after being amalgamated with another company, treated the excess consideration paid over the net assets acquired as goodwill and claimed depreciation at...

  4. Depreciation on foreign exchange fluctuation loss - foreign currency term loan availed for purchase of windmill - since the assessee has capitalized and claimed...

  5. The High Court dismissed the Revenue's petition challenging the order of the Single Judge. The court held that u/s 18(3) of the Tamil Nadu Value Added Tax Act, 2006, and...

  6. Refund claim of service tax paid on cancelled transactions - Post GST era - Rejection of refund under Rule 6(3) of Service Tax Rules read with Sec 142(5) of CGST Act -...

  7. Higher claim of depreciation on Windmill – if the electrical works are specially designed devices to suit the need of windmills, then only the assessee is entitled for...

  8. Simultaneous claim of depreciation and deduction of depreciation write back - amount credited in P& L Account due to change in the method of providing depreciation as...

  9. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  10. The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

  11. Disallowance of depreciation claimed on the “Goodwill” - The Tribunal reiterated its earlier decision and held that the assessee was entitled to claim depreciation on...

  12. Impugned show cause notice for shortfall in service tax payment based on Rule 5(1) of Service Tax (Determination of Value) Rules, 2006 quashed as ultra vires Section 67...

  13. HC quashed reassessment notice under s.148 concerning lease payments, foreign currency transactions, and goodwill depreciation. Court found no valid grounds for...

  14. Dispute regarding valuation of imported goods under Customs Valuation Rules. Related parties involved, 10% loading applied to transaction value earlier. New Customs...

  15. Customs Valuation Rules 2007 - Rule 12 allows rejection of declared transaction value and re-determination u/r 9 if identical/similar goods imported at comparable...

 

Quick Updates:Latest Updates