Nature of loss on the sale of foreign - the foreign cars do not ...

Income Tax

May 9, 2017

Nature of loss on the sale of foreign - the foreign cars do not form part of a block of assets and, admittedly, have not been granted depreciation - the foreign cars were utilized in the business of the assessee, the loss arising out of their sale would be liable to be categorized as a business loss - HC

View Source

← Previous Next →

Nature of loss on the sale of foreign - the foreign cars do not ...

Income Tax

May 9, 2017

You may also like:

Land is not a depreciable asset and hence can not form part of block of assets u/s 50 - investment eligible for exemption u/s 54EC

The expenditure has been incurred on mobile phones and LCD on which assessee is entitled to claim depreciation - The expenditure are capital expenditure forming part of...

Capital loss on the sale of the foreign cars - when the sale of the cars itself flow from the terms of the lease agreement and the terms of the agreement thus not...

Disallowance of depreciation rejecting concept of 'Block of Asset' - use of individual assets - business use of each item of a block of assets is not necessary for...

Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

TP Adjustment - When foreign exchange loss is to form part of the total base of the taxpayer for the purpose of charging a mark up to its AEs as it drives income from...

Reducing the subsidy for the purpose of calculation of depreciation - When the statute does not contemplate computation of actual cost of assets after it becomes part of...

Computing capital gains u/s 50 - though the vesting of the title is mandatorily required for claim of depreciation u/s 32 - de hors ownership of an asset, is not...

Repossession of assets given on hire purchase - loss incurred by the assessee due to sale of repossessed assets are allowable as business loss - AT

Disallowance of depreciation allowance - WDV - plant and machinery were not used during the year due to change in business model - nce an asset is part of the block of...

Quick Updates: