Allowability of depreciation on ‘Furniture and Fixture’, forming ...

Income Tax

September 7, 2016

Allowability of depreciation on ‘Furniture and Fixture’, forming part of the leased assets, income from which is assessable u/s. 22 of the Act as ‘Income from house property’ - claim was rightly disallowed - AT

View Source

← Previous Next →

Allowability of depreciation on ‘Furniture and Fixture’, forming ...

Income Tax

September 7, 2016

You may also like:

Depreciation on the furniture and fixture against the rental income of movable assets - In case of contract, parties to the agreement make law for themselves to which...

Depreciation on lease assets given to Konkan Railway Corporation Ltd - the transaction in question is finance lease and not operating lease. - no depreciation on asset...

Characterization of income - Income from giving furniture on hire - 'Income from Other Sources’ - Furniture and fixtures are business assets of the assessee, hence,...

Renovation expenditure as capital expenditure - payment towards purchase of furniture and fixture for new office have been incurred for purchase of furniture and fixture...

Depreciation on paintings which were part of furniture and fixtures - either hung in the office or given to the producer for the original shoots, or used in various...

Disallowance of depreciation in respect of asset given on lease - the lessee has been given only right to use the asset for the terms of the lease on payment of...

Claim of depreciation in respect of assets allegedly leased - financing transactions - assessee purchased assets and leased back to the same company claiming 100% depreciation - HC

Depreciation on leased asset - in case the said lease rent is assessed under the head ‘income from other sources, then assessee is eligible for depreciation u/s 57(ii) - AT

Assets given on lease and returning back to the assessee and again given on lease depreciation is required to be allowed once the assets purchased in the earlier year...

Depreciation on leased assets - section 32 - Section 2(13) and Section 2(24) the income derived from leasing of the trucks would be business income - depreciaion allowed - HC

Once the assessee has claimed the standard deduction in relation to the leased property which includes furniture and fixtures, the assessee is not entitled to further...

Depreciation on Assets – whether lessor was entitled to depreciation on assets leased by it in finance lease - Held No - lease agreement under consideration was that of...

Depreciation on leased asset - Solar Generating System – Once, lease rentals are accepted by the revenue, there is no reason to disallow the depreciation - AT

Correct head of income - nature of receipt from lease/ rent - the assessee employed commercial assets to earn income. Unless and until the income is treated as business...

Disallowance of depreciation on assets acquired and leased back - On a combined reading of Section 2(13) and Section 2(24) the income derived from leasing of the trucks...

Quick Updates: