Disallowance on account of depreciation claimed on the cost ...

Income Tax

December 27, 2021

Disallowance on account of depreciation claimed on the cost incurred in relation to the land being non depreciable asset - To our understanding, the impugned expenses were not incurred by the assessee for the acquisition of the land rather cost was incurred for effective functioning of the windmills. Therefore, such cost was directly connected with the functioning of windmill. Thus there was commercial expediency to incur the expenses hence assessee was eligible to claim such expenses. - AT

View Source

← Previous Next →

Disallowance on account of depreciation claimed on the cost ...

Income Tax

December 27, 2021

You may also like:

Disallowance of depreciation on building improvement - the assessee is not entitled to the claim of depreciation on such improvements to the land and building for more...

Disallowance of land development charges - onus is on the assessee to establish on evidence that the land development expenses were incurred wholly and exclusively for...

Discontinued Business - Disallowance out of depreciation and disallowance out of travelling, repairs, insurance expenses – expenses incurred to protect the business...

Allowability of depreciation @10% as against 100% claimed by the assessee - nature of expenditure on Civil work, flooring work, and finishing work, etc incurred as...

Depreciation on the loss incurred units of CANSTAR or revenue expenditure - The assessee would be entitled to the claim as expenditure incurred in the business - HC

Disallowance of depreciation on composite land and building - depreciation claimed by the assessee on account of office premises at India Habitat Centre - when it is...

Penalty under section 271(1)(c) - disallowance of depreciation - he explanation given by the assessee for the claim of depreciation is neither bona fide nor...

Disallowance of the claim of depreciation on intangible asset - amalgamation scheme initiated - when there is no transfer of the asset as well as there is no valuation...

Depreciation - unless the expenditure incurred for construction of the building is treated as capital expenditure, the question of her claiming the benefit u/s 32(1A)...

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...

Quick Updates: