Addition on account of depreciation, interest and running ...

Depreciation and Expenses for Company-Owned Vehicle Deemed Legitimate; Personal Expense Allegations Unfounded by Assessing Officer.

November 16, 2021

Case Laws Income Tax AT

Addition on account of depreciation, interest and running expenses for the vehicle registered in the name of the director - Dominion ownership of the car rest with the company. The company being a body corporate is different from the individuals. In other words in a body corporate there cannot be any element of personal expenses as alleged by the AO. - AT

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Addition on account of depreciation, interest and running ...

Depreciation and Expenses for Company-Owned Vehicle Deemed Legitimate; Personal Expense Allegations Unfounded by Assessing Officer.

November 16, 2021

Case Laws Income Tax AT

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