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Bill - Highlights / Catch Notes

Home Highlights February 2016 Year 2016 This

Amendment of section 32. - Additional Depreciation shall also be ...


Section 32 Amended: Power Transmission Businesses Can Now Claim Additional Depreciation for Tax Savings and Financial Benefits.

February 29, 2016

Act Rules     Bill

Amendment of section 32. - Additional Depreciation shall also be allowed to the business of transmission of power.

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You may also like:

  1. Additional depreciation - Section 32 as amended vide FA, 2012, the assessee engaged in the generation of power has expressly been included in the ambit thereof -...

  2. Additional depreciation - business of manufacture of cold drinks - the assessee is legally entitled to avail the benefit of additional depreciation under Section...

  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. The assessee, an individual sole proprietor, claimed depreciation on a car registered in her husband's name but funded by her business. While the assessee may be treated...

  5. Claim of terminal depreciation - assessee had in fact claimed depreciation as contemplated under section 32 merely because it was termed as "terminal depreciation" was...

  6. ITAT ruled that an assessee engaged in power generation, transmission, and distribution is not entitled to enhanced additional depreciation of 35% under the proviso to...

  7. Additional depreciation claim @ 20% - the provision of section 32(1)(iia) is required to be interpreted reasonably and purposively as the strict and literal reading of...

  8. The case concerns the retrospective nature of an amendment to u/s 32(1)(ii) by the Finance Act, 2015, relating to additional depreciation on plant or machinery. The...

  9. The Tribunal allowed the assessee's claim for depreciation on goodwill arising from amalgamation u/s 32(1)(ii), following the Supreme Court's decision in Smifs...

  10. Carry forward and set off of business losses u/s 32(2) is subject to the provisions of Sections 72(2) and 72(3). Depreciation allowance carried forward u/s 32(2), though...

  11. Claim of balance additional depreciation on the assets which were put to use in earlier year - Number of days asset put to use - whether machinery is put to use for less...

  12. The assessee is entitled to claim additional depreciation u/s 32(1)(iia) on electrical items forming part of plant and machinery, even if not engaged in manufacture or...

  13. TP Adjustment - Claim of depreciation on software - no ownership claim of the assessee proved - Section 32 of the Act provides depreciation on the eligible assets owned...

  14. Additional Depreciation on the wind mill - period of trial run - to deny the benefit of additional depreciation to generating entity on the basis of electricity is not...

  15. Additional depreciation u/s 32(1)(iiia) - whether the process of blending of butane and propane which is carried out in scientific manner, with use and aid of...

 

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