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![Limited Company being an Inanimate Person, cannot have anything Personal: ITAT allows Depreciation on Luxury Sports Car used by Director [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ITAT-Depreciation-Luxury-Sports-Car-Director-Company-Inanimate-Person-Depreciation-on-Luxury-Sports-Car-Income-Tax-taxscan.jpg "Limited Company being an Inanimate Person, cannot have anything Personal: ITAT allows Depreciation on Luxury Sports Car used by Director [Read Order]")
Limited Company being an Inanimate Person, cannot have anything 'Personal': ITAT allows Depreciation on Luxury Sports Car used by Director [Read Order]
The Income Tax Appellate Tribunal (ITAT) company is an inanimate person and there cannot be anything “personal” and therefore, allowed depreciation...
![A Sovereign Country cannot be treated as a person or Authority for the purpose of Sec 43(1) of the IT Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/09/ITAT-Kolkata-TaxScan.jpg "A Sovereign Country cannot be treated as a person or Authority for the purpose of Sec 43(1) of the IT Act: ITAT [Read Order]")