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 2017 Year 2017 This

Claim for depreciation on Flameless Furnace - nonproduction of ...


High Court Denies Depreciation Claim on Furnace Due to Lack of Evidence and Documentation by Assessee.

January 24, 2017

Case Laws     Income Tax     HC

Claim for depreciation on Flameless Furnace - nonproduction of vital documents - Assessee was not able to explain even the whereabouts of the Furnace which is alleged to be owned by it - Depreciation was rightly denied - HC

View Source

 


 

You may also like:

  1. Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

  2. Computation of capital gains enshrined in section 48 - Deduction of Brokerage expense, Transfer expenses and indexed cost of improvement - Tribunal found the assessee...

  3. Condonation of delay - Delay in filling of an appeal before ITAT - The ITAT observed taht the appeal was delayed by 17 days. The assessee claimed the delay was due to...

  4. The assessee university's application for registration u/s 10(23C)(vi) was rejected due to non-submission of audited accounts and failure to provide necessary...

  5. Claim of higher depreciation of ‘Bizerba weighing scales’ - A photocopy (xerox) machine can also be attached to a computer, however, that does not entitle it for...

  6. Assessee's income from real estate business estimated at 8% of turnover due to lack of evidence for claimed 5% rate. Partial disallowance of agricultural income due to...

  7. 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...

  8. Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

  9. ITAT partly allowed assessee's appeal. On revenue recognition issue, ITAT held AO made due enquiries, no lack of enquiry, decided in favour of assessee. On disallowance...

  10. No penalty u/s 271(1)(c) was imposed on the assessee for disallowance of depreciation. The ITAT held that the assessee did not deliberately claim depreciation with an...

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

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

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

  14. Claim of depreciation - Fresh claim made in the revised ITR - irrespective of the fact of assessee claiming or not, the depreciation shall be allowed while computing the...

  15. In the case at hand, the workmen's claims for wages and other dues were rejected by the liquidator due to lack of evidence substantiating their employment on the date of...

 

Quick Updates:Latest Updates