![Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/itat-assessment-depreciation-section-263-taxscan-.jpg "Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment u/s 263 [Read Order]")
Depreciation Claim of 30.23 Cr on Intangible Assets Disallowed: ITAT upholds Revision of Assessment u/s 263 [Read Order]
In а recent ruling, thе Mumbai benсh оf thе Income Tах Appellate Tribunal ( ITAT ) hеld thаt thе authorities must adequately investigated а...
![Depreciation claim on Non Compete Fee Allowable Under Income Tax Act: ITAT Deletes Penalty Imposed [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Depreciation-claim-Depreciation-claim-on-Non-Compete-Fee-Under-Income-Tax-Act-Income-Tax-Act-income-tax-news-ITAT-delhi-ITAT-Income-Tax-Appellate-Tribunal-Penalty-Imposed-taxscan.jpg "Depreciation claim on Non Compete Fee Allowable Under Income Tax Act: ITAT Deletes Penalty Imposed [Read Order]")
![Building, Machinery Plant or Furniture not Exclusively used for Purpose of Business or Profession: ITAT disallows Depreciation Claim on Building [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/income-tax-ITAT-ITAT-Mumbai-Plant-machinery-taxscan.jpg "Building, Machinery Plant or Furniture not Exclusively used for Purpose of Business or Profession: ITAT disallows Depreciation Claim on Building [Read Order]")
![Depreciation on Fixed Assets Permissible Despite Application of Income Claimed During Purchase Year; No Double Deduction Involved: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Depreciation-Fixed-Assets-Permissible-Despite-Income-Double-Deduction-ITAT-TAXSCAN.jpg "Depreciation on Fixed Assets Permissible Despite Application of Income Claimed During Purchase Year; No Double Deduction Involved: ITAT [Read Order]")
![Rejection of Depreciation Claim on fixed Assets u/s 32 of IT Act Due to Improper Filing of Depreciation Report: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Rejection-of-depreciation-Claim-on-fixed-assets-IT-Act-improper-filing-of-depreciation-report-ITAT-directs-re-adjudication-depreciation-Claim-on-fixed-assets-Rejection-of-depreciation-Claim-taxscan.jpg "Rejection of Depreciation Claim on fixed Assets u/s 32 of IT Act Due to Improper Filing of Depreciation Report: ITAT directs Re-adjudication [Read Order]")
Once Trust is Assessed as AOP Denied of S. 11 Exemption, Entire Receipts shall be Assessed as Business Income: ITAT Allows Depreciation Claim [Read Order]
The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has allowed the depreciation claim holding that once a trust is assessed as Association of Persons (AOP) has been denied exemption under...
![Once Trust is Assessed as AOP Denied of S. 11 Exemption, Entire Receipts shall be Assessed as Business Income: ITAT Allows Depreciation Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/03/Once-Trust-Assessed-as-AOP-Denied-of-S.-11-Exemption-Entire-Receipts-Assessed-Business-Income-ITAT-Depreciation-Claim-Taxscan.jpg "Once Trust is Assessed as AOP Denied of S. 11 Exemption, Entire Receipts shall be Assessed as Business Income: ITAT Allows Depreciation Claim [Read Order]")
Lapse of 15 years to produce Supporting Documents before AO: ITAT disallows Depreciation Claim [Read Order]
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench disallowed depreciation claim as there was Lapse of 15 years to produce supporting documents before Assessing Officer (AO). The assessee,...
![Lapse of 15 years to produce Supporting Documents before AO: ITAT disallows Depreciation Claim [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/documents-AO-ITAT-depreciation-claim-taxscan.jpg "Lapse of 15 years to produce Supporting Documents before AO: ITAT disallows Depreciation Claim [Read Order]")
Depreciation Not allowable on Intangible asset on payment of Non-compete Fees for Acquiring 'Going Concern': ITAT [Read Order]
Delhi bench of Income Tax Appellate Tribunal (ITAT) recently disallowed depreciation claim under section 32 of the Income Tax Act, 1961 on intangible asset on non-compete fees paid. Assessee in the...
![Depreciation Not allowable on Intangible asset on payment of Non-compete Fees for Acquiring Going Concern: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2017/08/Depreciation-Taxscan.jpg "Depreciation Not allowable on Intangible asset on payment of Non-compete Fees for Acquiring Going Concern: ITAT [Read Order]")
Slump Price paid to Acquire Business has to be Bifurcated between Tangible and Intangible Assets for allowing Depreciation: ITAT [Read Order]
Pune bench of the Income Tax Appellate Tribunal (ITAT) recently held that slump price paid to acquire a business has to be bifurcated between both tangible and intangible assets for the purpose of...
Company is Guilty for making False Depreciation Claim: Delhi High Court Rejects Plea of Accounting Mistake [Read Order]
While rejecting a plea of ‘clerical error’, a division bench of the Delhi High Court confirmed criminal proceedings against Ambience Hospitality Pvt Ltd, who made a false depreciation claim in its...
![Company is Guilty for making False Depreciation Claim: Delhi High Court Rejects Plea of Accounting Mistake [Read Order]](https://www.taxscan.in/wp-content/uploads/2016/06/Delhi-High-Court-Tax-Scan-1.jpg "Company is Guilty for making False Depreciation Claim: Delhi High Court Rejects Plea of Accounting Mistake [Read Order]")
Depreciation Claim is Mandatory for Claiming Benefit of s. 80-IA of Income Tax Act: SC [Read Judgment]
While dismissing an appeal filed by M/s Plastiblends India Limited, a two-judge bench of the Supreme Court held that assessee should claim for depreciation while computing incentive under section...