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Income Tax - Highlights / Catch Notes

Home Highlights April 2018 Year 2018 This

Depreciation on electric installations - to be classified as ...

Income Tax

April 10, 2018

Depreciation on electric installations - to be classified as Furniture or Plant & Machinery - assessee failed to prove that electrical installations which are claimed to be falling within the block of assets “Plant and Machinery” are integral part of the plant and machinery and falls within the block of plant and machinery - AT

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  1. Accelerated depreciation - installation of plant and machinery - mproved design of tractors - improvements made thereon based on their own in house R&D efforts -...

  2. Disallowance of excess depreciation of electrical installation - since the assessee is engaged in manufacturing of cotton yarn and the electrical installation for which...

  3. When electrical installations are treated as plant and machinery the depreciation has to be allowed @ 25% as per provisions contained u/s 32

  4. Electrical installations – “electrical fittings” or “plant and machinery” – Rate of depreciation 10% or 15% - issue remanded back to the tribunal to examine the question...

  5. Depreciation on Electric Installation used in factory premises to operate various Machinery & Equipments in manufacturing of POY and polyester chips - electrical...

  6. Depreciation on electrical installation - rate of depreciation - electrical installation is integral to the plant and machinery used for manufacturing steel - CIT(A) has...

  7. Disallowance of higher reduction of depreciation on the cost of civil engineering works for laying foundation of solar power panels - the expenditure which is incurred...

  8. Depreciation @ 15% on the electrical installations and further additional depreciation of 10% - electrical installation was to be treated as part of plant and machinery...

  9. Depreciation on electrical fitting - plant and machinery v/s furniture and fixtures - It is necessary to have electrical fittings for the power supply to the machineries...

  10. Depreciation on wind electric generations - wind mill generator is nothing but wind mill equipment on which depreciation is allowable @ 100% as per the statutory provision - AT

 

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