Depreciation allowes or not
This query is : Resolved
12 September 2013
hi, i am accountant at pvt ltd hospital some fixed assets are in the name of our directors and payment for the same are made through loan in the name of directors. but emi for the concerned loan was borne by hospital. whether depreciation is allowed or not
please suggest.
please suggest.
13 September 2013
Depreciation not allowed if the asset is in the name of Directors,
Citation: Edwise Consultants (P.) Ltd. - [2013] 35 taxmann.com 149 (Mumbai - Trib.)
It is held that Whether, merely because cars were shown as assets in books of account of assessee company, depreciation could not be allowed where cars were registered in name of its directors
Citation: Edwise Consultants (P.) Ltd. - [2013] 35 taxmann.com 149 (Mumbai - Trib.)
It is held that Whether, merely because cars were shown as assets in books of account of assessee company, depreciation could not be allowed where cars were registered in name of its directors
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS 194-T applicability
- Tds on commission charges
- Applicability of GST on Salary Reimbursement Component
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Dep. as per companies act
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- CHECK RELATED
- New GST registration for new place of business.
- Tax rate change regarding
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
Featured
11 September 2026
Audit Executive
RBSM Corporate Advisors Private Limited
Pune
CA
View Details
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
ARTICLESHIP
07 September 2026
Article/ Paid Assistant
Murali and Sumeet Chartered Accountant
Bengaluru
CA Foundation
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
CCI
Pro
CAclubindia
