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 September 2017 Year 2017 This

Revision u/s 263 - entitlement to claim depreciation u/s 32 - ...

Income Tax

September 11, 2017

Revision u/s 263 - entitlement to claim depreciation u/s 32 - That basic exercise of determining to what extent the depreciation was claimed in excess has not been undertaken by the PCIT. - revision order is invalid and set aside - HC

View Source

 


 

You may also like:

  1. Revision u/s 263 - depreciation claimed on goodwill arose out of amalgamation - PCIT has assumed jurisdiction u/s. 263 of the Act on the sole basis of application of 5th...

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

  3. Revision u/s 263 - claim of TDS - In the absence of any demonstrable loss of revenue, interference in exercise of power u/s 263 cannot be justified - AT

  4. Revision u/s 263 - additional depreciation u/s 32(1)(iia) - AR has not placed any evidence / material on record to show that the additional depreciation claimed was...

  5. Revision u/s 263 - commission paid to the MD to be disallowed - Even though it has not claimed 100% of the quantum of the value of assets due to the fact that the assets...

  6. Revision u/s 263 - depreciation set off claim - in order to avail Section 32(2) depreciation claim, it is not necessary that the business carried on in the following...

  7. Claim of higher rate of depreciation - Mobile crane was registered as a heavy motor vehicle - depreciation at 40% on crane mounted on motor truck allowed u/s 32 - AT

  8. Depreciation u/s 32 - for claiming higher rate of depreciation, there is no requirement under the Act of usage of the assets by the assessee himself - HC

  9. Depreciation on intangible asset - assessee has succeeded in its substantive claim of depreciation on 'License to collect Toll' @ 25% in terms of Section 32(1)(ii) - AT

  10. Depreciation on non-compete fee - treating the same as intangible asset u/s 32(1)(ii) – claim of depreciation allowed - AT

 

Quick Updates:Latest Updates