![Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Depreciation-CBDT-Instruction-CBDT-Books-of-Account-ITAT-taxscan.jpg "Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]")
Depreciation can be allowed on Factual aspects under CBDT Instruction, even If the Value is not Recorded in Books of Account: ITAT [Read Order]
The Amritsar bench of the Income Tax Appellate Tribunal ( ITAT ) has held that depreciation can be allowed on factual aspects under CBDT instruction,...
![Revenue Expenditures on ERP software Capital in nature: ITAT allows to Claim Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/ERP-software-Income-Tax-Revenue-expenditures-Capital-ITAT-Depreciation-Revenue-expenditures-taxscan.jpg "Revenue Expenditures on ERP software Capital in nature: ITAT allows to Claim Depreciation [Read Order]")
![No Claim of Purchase of Asset as an application of Income: ITAT directs to allow Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/claim-purchase-of-asset-asset-ITAT-income-depreciation-taxscan.jpg "No Claim of Purchase of Asset as an application of Income: ITAT directs to allow Depreciation [Read Order]")
![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]")
![Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Depreciation-Computer-Softwares-ITAT-TAXSCAN.jpg "Depreciation at 60% Allowable on Computer Softwares: ITAT [Read Order]")
Excess Depreciation Claim cannot Vitiate the benefit of Reduced Tax Rate u/s 115BAA: ITAT [Read Order]
The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench, has recently while deciding an appeal filed before it, held that excess depreciation claim cannot vitiate the benefit of reduced tax rate...
![Excess Depreciation Claim cannot Vitiate the benefit of Reduced Tax Rate u/s 115BAA: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Depreciation-Claim-Tax-ITAT-taxscan.jpg "Excess Depreciation Claim cannot Vitiate the benefit of Reduced Tax Rate u/s 115BAA: ITAT [Read Order]")
Purchase of Raw Material and making packing material is manufacture: ITAT allows Additional Depreciation [Read Order]
The Income Tax Appellate Tribunal (ITAT), Indore Bench allowed additional depreciation as Purchase of raw material and making packing material is manufacture. The assessee-company, M/s. Madhuri...
![Purchase of Raw Material and making packing material is manufacture: ITAT allows Additional Depreciation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Purchase-Raw-Material-packing-material-manufacture-ITAT-Depreciation-TAXSCAN.jpg "Purchase of Raw Material and making packing material is manufacture: ITAT allows Additional Depreciation [Read Order]")
Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has held that once goodwill is accounted for in the books of account, goodwill arising upon amalgamation is eligible for depreciation...
![Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Books-of-Account-Goodwill-Amalgamation-Depreciation-ITAT-taxscan.jpeg "Once Goodwill is accounted for Books of Account, Goodwill arising upon Amalgamation is eligible for Depreciation u/s 32: ITAT [Read Order]")
15% Depreciation allowable to Stainless steel tables, Stools, etc used for production of vaccines: ITAT grants Relief to Serum Institute of India [Read Order]
The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has allowed the depreciation at 15 % to Serum Institute of India Ltd on products like Stainless steel tables, Stools, etc which are used for...
![15% Depreciation allowable to Stainless steel tables, Stools, etc used for production of vaccines: ITAT grants Relief to Serum Institute of India [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Depreciation-production-vaccines-ITAT-Serum-Institute-of-India-taxscan.jpg "15% Depreciation allowable to Stainless steel tables, Stools, etc used for production of vaccines: ITAT grants Relief to Serum Institute of India [Read Order]")
Relief to NXP India: ITAT directs Fresh Adjudication on Depreciation on Networking Equipment [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT), Bangalore directed fresh adjudication on depreciation on networking equipment, and thereby granting relief to NXP India Pvt Ltd. ...
![Relief to NXP India: ITAT directs Fresh Adjudication on Depreciation on Networking Equipment [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/NXP-India-ITAT-Depreciation-taxscan.jpg "Relief to NXP India: ITAT directs Fresh Adjudication on Depreciation on Networking Equipment [Read Order]")
Depreciation allowable for Goodwill on Exclusive Rights such as Patents and Trademarks: Delhi HC [Read Order]
The Delhi High Court, in a recent ruling has held in favour of the assessees, Daikin Shriram Aircon Pvt Ltd and Daikin Air Conditioning India Pvt Ltd that, the assessee is entitled to claim...
![Depreciation allowable for Goodwill on Exclusive Rights such as Patents and Trademarks: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Depreciation-Goodwill-Patents-Trademarks-Delhi-HC-taxscan.jpg "Depreciation allowable for Goodwill on Exclusive Rights such as Patents and Trademarks: Delhi HC [Read Order]")
Depreciation allowable u/s 11(6) when Cost of Fixed Assets not claimed application of Income: ITAT [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that depreciation is allowable u/s 11(6) when cost of fixed assets is not claimed application of income. M/s. Podar Literacy...
![Depreciation allowable u/s 11(6) when Cost of Fixed Assets not claimed application of Income: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Depreciation-Cost-Fixed-Assets-Income-ITAT-taxscan.jpg "Depreciation allowable u/s 11(6) when Cost of Fixed Assets not claimed application of Income: ITAT [Read Order]")