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Depreciation

Subsidy not to be reduced from Actual Cost of Fixed Assets u/s 43(1) for purpose of Calculation of Depreciation: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Pune has ruled that, Subsidy is not to be reduced from the actual cost of fixed assets under Section 43(1)...

Relief to Vibracoustic India: ITAT allows Additional Depreciation Claim on Plant, Machinery [Read...

Use of Car for Business and Personal Purpose: ITAT restricts Depreciation to 15% [Read Order]

Depreciation not allowable for Expenditure availed on Professional or Legal Services which don’t...

Goodwill Acquired under Slump Sale Agreement eligible for Depreciation: ITAT [Read Order]

Shares are not Intangible Assets U/S 32(1) (ii) and No Depreciation on Purchase Price of Shares: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench presided by Mr. Prashant Maharishi, AM, and Mr. Pavan Kumar Gadale, JM has held that shares are not intangible assets under section 32(1) (ii)...

Consideration paid excess than Market Value of Net Tangible Assets is treated as Goodwill: ITAT allows depreciation [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that consideration paid in excess than market value of net tangible assets is treated as goodwill. The assessee Gea Process...

Period of Depreciation should extend up to Date of Payment of Duty: CESTAT [Read Order]

The Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Ahmedabad held that period of depreciation should extend up to the date of payment of duty. The brief facts of the case are that...

Loss arising out of Foreign Currency Term Loan as Capital Loss, Depreciation allowed on Cost of Asset including Forex: ITAT [Read Order]

Loss arising out of foreign currency term loan as a capital loss, Chennai bench of Income Tax Appellate Tribunal (ITAT) allowed depreciation on the cost of assets including forex. The assessee...

ITAT allows Half Depreciation as Asset was put to use on Temporary structure of Office [Read Order]

The Income Tax Appellate Tribunal (ITAT) allows half depreciation as an asset was put to use for a claim of 100% depreciation on the temporary structure of the office. The only issue in this...

Depreciation claimed on Govt securities categorised as AFS is allowable: ITAT [Read Order]

The Ahmedabad bench of Income Tax Appellate Tribunal (ITAT) has held that depreciation claimed for the Government securities categorised as AFS is allowable The appellant was represented by Shri...

Payment of Lease Rental for Containers can’t be treated as Revenue Expenditure as Depreciation was Claimed: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the amount of payment of lease rental cannot be treated as Revenue expenditure as the assessee’s claim for depreciation was...

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