Income Tax - Highlights / Catch Notes
Income Tax - Disallowance of depreciation on vehicle on the ground of...
Disallowance of depreciation on vehicle on the ground of personal use - Once the claim of depreciation on passenger vehicle is accepted by the AO then the depreciation on delivery van cannot be disallowed on the ground of personal use. AO has otherwise made this disallowance on presumption and surmises without the actual fact of the use of the vehicle. Even otherwise the delivery van is hardly used for personal purpose and can be used only for the business purpose of the assessee. - AT