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Income Tax : Computation of Deduction under section 10A and depreciation on computer accessories

The relevant facts of the case are that in the year under consideration the assessee who is wholly o

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Income Tax : Depreciation on the vehicles financed by assessee and registered in the name of third party

The assessee is a public limited company, classified by the Reserve Bank of India (RBI) as a non-ban

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Income Tax : Amount recoverable given in advance cannot treat as income and depreciation can claim on all asset used for business

The revenue has questioned the first appellate order on the following grounds: “1. On the facts a

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Income Tax : Once the asset merges in block of assets is entitled to get depreciation till the block of asset equals to zero or company is closed

Fact of the case is depreciation on block of asset.

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Income Tax : Depreciation of asset of the institution under section 12A to be deducted to arrive at income available for charitable purposes

On the facts and in the circumstances of the case, the Ld. CIT(A) erred in allowing depreciation on

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Income Tax : No concept of deferred revenue expenditure under the Income Tax Act and integral part of the computer entitled to depreciation at 60%

The grounds raised read as under:- “1. Whether the Ld. Commissioner of Income Tax (A) was correct

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Income Tax : UPS is an integral part of computer so depreciation should be charged accordingly

The facts concerning the only issue in dispute are that the assessee company is engaged in the busin

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Income Tax : Depreciation under section 32 when the cost had already been claimed in the preceding year by application of Income

Facts, in brief, as per the relevant orders are that return declaring income of `1,92,16,940/- filed

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Income Tax : All acesesories of computer cannot work in isolation allowed depreciation @60% and expenditure on exempt income cannot be allowed

There are several ground raised by Revenue as well as assessee please check the judgment to obtain t

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Income Tax : Depreciation on construction in integral part of the plant

On the facts and circumstances of the case, the order passed by the learned Commissioner of Income T

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Income Tax : Sec 234D is applicable only on regular assessment year and difference in depreciation due to exchange rate need to transfer to PL account as per AS-11.

That on facts and in law, the CIT(A) erred in upholding disallowance of additional depreciation to t

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Income Tax : Depreciation @ 50% on cars can be allowed only on the fulfillment of definition of Commercial Vechile

Brief facts relevant for adjudication of grounds No.1 & 2 are that the assessee is a company engaged

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Income Tax : Only on computer 60% depreciation is allowed not on networking equipment

On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in directing

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Income Tax : Only on the basis that machine not liable to Claim depreciation penalty cannot be imposed under sec 271(1)( C )

The facts are that during the assessment proceedings, the A.O. noted that the assessee claimed depre

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Income Tax : Depreciation on computer can be claimed at 60%

The return of income in the present case was filed at a loss of Rs.19,03,733/-. The only addition ma

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Income Tax : Additional amount paid for custom duty can be capitalized to claim depreciation even the decision is pending

On the facts and circumstances of the case, the ld. CIT(A) has erred in overlooking the fact that th

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Income Tax : Provision of sec 36(1)(ii) not applicable in the absence of evidence and depreciation at 60% should be charged on computer

It was submitted that there is a major increase in sale as well as the profit of the company and tha

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Income Tax : It is the burden of the assessee to proof that the expenditure related to the business and depreciation on computer can be claimed at 60%

We have carefully considered the arguments of both the sides and perused the material placed before

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Income Tax : If Asset owned by the assessee used for business purpose depreciation cannot be disallowed and provision of income tax written back cannot be consider deemed income

Following effective grounds of appeal:- 1. That the ld.CIT(A) had erred in deleting disallowance

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Income Tax : In case of mere advancing depreciation cannot be allowed and in case of finance lease only lessee can claim depreciation

Briefly stated the facts of the case for the A.Y. 1998-99 are that the assessee bank filed its retur

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